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Full text of "The Commercial and financial chronicle"

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in 2007 with funding from 

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http://www.archive.org/details/commercialfinanc61newyuoft 



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HUNT'S MERCHANTS' MAGAZINE, 



A WEEKLY NEWSPAPER 
Slcpvcscntiug the Inrtustvtul and Financial Interests of the Stnlted *tates. 

VOLUME LXI. 





JULY TO DECEMBER, 1895, INCLUSIVE. 




W1LLL\M B. DANA COMPANY, PUBLISHERS, 

PINE STREET, coBjfBB PEABL STREET, NEW YORK. 

IhmtmrmKi iK^;ur<liU4( U> Aat ot UaaytoM In the T*»* ISQO, bj WiuiAM B. Oama Comtaiit, In oOee of LUirmrUui of CoBKrew, Wmililngton, O. O.) 



INDEX 

TO TOB 

SIXTY-FIRST VOLUME. 



\ 



Embracine the Numbers from July 1 to December 31, 1895. 



Kditorlal and Communicated. A.rticles. 



Page. 

AbnaUl* »nrt Itmly ., 221 
Mcrlran Bankers' Aaaoctktlon Oou- 

veoUon oSl 

AaMtlean C«ttou Ull Co , Anuuiil Report 8UU 

Aniriiniii .iixl kiiKlmli Railway Practice ■J'.iO 

An. 'I'wr Mlbe Nc)fotl8tlon» .. 724 
An: nufut uid tlie Ueogrepbl- 

, , 301 

Ai. lu Price ol 725 

Ai n 86 

All rnlliK" 172 

Ai;' 1>. liiiuruvciiient In 491 

A" ■■ Mlvt-r 181 

At: luil Cuttnn-Maunlac- 

turiii.- Ill llii --<iiitu SOO 

Autllt. Iiiili-|>riiilt'iil. l.lHilUkUnus of U88 

Audit or KmIIm iiy Accouutit, lud«I>eDdeDt 

WW, 988 

AiutraUwU. Oold and SUver Mining In. . . S40 

Bairour(Mr.) on Hlinctulll«in 887 
altlu.ore ^ Ohio KK . Anniiul Report 8U0 
Baltimore' .V Uliio iioiitliMusiern Ky , 

A' rt 8M 

Bu u'a (N. Y.). Movement t» 

K. till 218 

Bank citiuiuK^ and IniprovliiK Trudu 

•J. 3!<0, 58 . 984 
BankH, New York, Boatoii and Pliiladcl- 

ptala. tn UKUe Loan Certlt)calc« 1132 

Bank statement — Uold UoMliifnlncreu*- 

loc 1038 

Bank Statement and Syndicate Payment 

otProUta 586 

Banker*' Aanoclatlon Convention, Amer- 
ican 681 

Banker*' A««oclatliin, New York State, v 

Annual Couvrutlnn 43, 55 

Banklnn and Money by Mr. Uoraco White, 

.Notlieof..^ 1042 

Bauklni; System National, Growth of 

A> rested 812 

Bond Bill PropOMd by Houae of Bepm- 

aenutl ves 1184 

Bond Bale, Kumon of, Without Poundu- 

Uon 490 

Bond Sale and dyudlcuto Profit 53'i, S35 

Bo&d sale, ByuUlcaie Prottta Under the 

532, 535 
Bead Syndicate I>ei>ORlta of Oold with 

Treaanry 172, 250, 390 

Bond Syndicate. "Marveloua Induatrial 

Contraat" 5 

Bond Syndicate'* Uperatlotia In Forrlicu 

Excbxnxe 3-«4. 31« 

B«Dil> Siitiji'i t to Call and Railroad Sink- 

ll. /Itt iMVESTuKH' SUPrLK- 

Mi T. 

Br.- )...rt.H,Our. lf)94-0.'i 92 

BreatUlii - ■>< Lak» and Klvcr 

Peru I 1 . 22:), 4 50. (UO. rt,->4, 1046 
Britlab I I tlie Policy TUcy 

lodlcale 178 

Brooklyn. Building Activity In 179 

Builillnx Activity In New York, ChlooKO { 

and Hroonlyn 179 I 

BuiKsria anil Kaatcrn Euro|>e 87, 137 

BualncM Activity and Uur Mineral Pro- 

dacUona 493 

BoatBea* Outlook a Currency Qiieatlon— 

How to Secure Permanent Proi<v«rlly.. 634 

Canada Southern RR. Yearly Statement 1086 
ar HulIiIliJtMii \t'ir, ll.Tj 

Car I. in Speech 678 

C»i ■ rency Speech 

at- 892. 894 

OarUslt'- K. i">rt and Proapcc- 

tlTeTr.- 'i» 1083 

Oheaaprnk KK.. Annual Report 302 

Chlcaifo, HiilMiiijj .\rtlvlty In 179 

Cblr*r<>. Milwaukee* St. Paul RR., An- 
nual KciMMt 392 

Cbleago Milwaukee & St. Paul RR. Iin- 

orovlng EaruluK* 490, .■)33, B78 

Cntcago A Nortbwealern RR. Anuuiil 

Report 176 

Chl< aao A Morttawealem BB. Ciureot 

Eamlnn 298 

ChlOMO * Nortliweatem RR. Increaie* 

pirBeBdl. 984 I 



Paob. 
China, Effect on TradeofOlmning Addi- 
tional Treaty Porta 181 

City Bond Sales, Review- of (monthly) 

80. 240, 483. 626. 840, 1030 
Clearings and ImproviuK Trade.. 2, :)flO, 

586, 984 

aearlDgs by Telegraph 13, 182, 407, 

596. 815, 997 
Clearings In United States (uiuntbly). 

4, 173, 391..'J88, 810. 986 
Clcve. Clnn. Chic. & et. Louis RR. and 

i Low Rates 593 

ClcveUnd'H (President) Message on Fl- 

i nances. Text of 1080 

Cleveland's (President) Message and Re- 

tlreuu-ut or Legal Tenders 987 

i Coal. Antliracitc, Advance In Price 7'25 

, Coal Priiducllon. Anthruolte 86 

OoiU Una I (Anthriicile), Karnings 172 

Colli Trade. Autliniclle. Improvement in 491 

I Colorado Midland KK. Kumings 98."« 

I CopyriKlit— Proteetiip)? t>ur Publications 724 

I Corn, Condition, Acreage and Yield, 

I 42. 25ti, 444. 638, 852 

Com Crop Estimates, Explanation of 777 

I Cotton CouKuniiitiou of Uiuope and the 

I World (hy cable) 733 

Coiton, Cnnsiiiuptlon and Overlanl 

i Movement (mou lid \ )....■ 594. 778, 995 

t Cotton frop of ISOa-yii. Annual Report 3b7 
Cotton Ooji or 1895-!MJ-What the Agil- 

cultural IJepariinent's Figures Indicate 850 
Cotton Kxi-hangc (N.Y.). Transactions ou 

(monthly) 13, 182. 407, 59(i. 810, 997 

Cotton Mauuiacturiug at Fail River in 

18115 265, 900 

Coiton Mnnufacturing in the South and 

the AilantuKxposiiiou 990 

Cotton ami Rates or Kxchangc. Irregular 

Movcmciitand Wide Kmotuations 724 

Cotton Receipts at Suutbcrn Ports 

(monthly) 52,639, 853, 1046 

Cotton Speculation and Yield 678 

Crop Conditions Highly Favorable 130 

Crops, Condition and Yield of.... 42, 257, 

444, 638 
Currency and How to Secure Business 

Prosperity 634 

Currc'cy LrglFlatlon— Ketlrement of Le- 
gal Tcndirn the Keal .Seed. 1040 

CnrreiK-v. President Cleveland's Message, 

Text of, L'rfe'cni Need tor Relief 1089 

Curn-iicy (Ju -stlon the C'outrolling Influ- 
ence In wall 8tiect 725 

Currency Question, Why Not Settle It 

Nowt 892, 894 

Currency. Sound. Illustrated 687 

Cuetomn Payments, cbangeain 175 

Days of Orace on Promissory Notes 
138. 227 
Denver 4 Rio Grande RR. Annual Ke- 

l.ort 395 

Denver di Rto Grande Railroad Resumes 
Payment of Dividends on Preferred 

Stock :.„. 1038 

Dividends, Railroad, for 1895 1137 

f^ lection Expenses Paid bv the North, 
t a Sure Way to Defeat tree Silver in 
theSoiith 45 

Klectloiis— Result and Cause 808 

Electric and Horse Koiids, Relative Re- 
turns from. Ace STKKtT Railway Sup- 
ri.r.MKKT, August. 

Electric Power oir steam Roads 264 

Eipciricliy— Utilizing the Power of Niag- 
ara Falls 46 

Elilsnn's Annual Cotton Revlewfor 1894- 
05 (liy calilel 733 

Engllsli and American Railway Practice 2'20 

EnroiieHU Centres of Tnulo Disturbed by 
Political CoinpliCHtioiis. 770 

Euro|>ean Financial bituatlon, Vaning 
Asiacls of 946, 9W4, 1039 

European Markets and Lord Salisbury's 
AildrcfB 846 

Enn>)M-nn Political Sltuaiionsod Our Ad- 1 

vcrno Financial Cniidltlon 770, 808 

European and World's Cotton Consump- 
tion (by cable) 733 J 



Page. 

Failures, Mercantile 2,586, 596 
all River Mill Dividends 2(<;», 900 

I Financial lieraugenieut. How toCurc... . 987 
Financial Ri view (monthly). See Quo- 
tation SUIPLEME>T. 
Financial Situation. See First Article 
each week. , ,„.„ 

] Foreclosure. Bight of Redemption After. 1043 
ForeidD Bourses and Exchange Affecting 

Trade in the United States -770 

Foicign Commerce in the Late Fiscal 

: Year ■• 90 

Foreign Exchange Affected by Venezuela 

Controversy 1081 

Foreign Excliange, Bend Syndicate's 

0)ierations in 344, 346 

Foreign Excliansie and Cotton, Trrcgular 

j Movement and Wide Fliictiialious 724 

Foreign txcliange Market and Gold Ex. 

' ports 846, 892 

I Foieign Exchange, Peculiarity 01 the Ad- 

' vance in 6/8 

'■ Foreign Exchange Rates, Fall in and 

1 Stoppage of (iolil Exports 490, 532, 

Foreign Kxcliauge, Reaction in 344 

Foreign Eicliaugc. Reduction in Kates.. 298 

586, 632 
Foreign Trade Movement (monthly), 

87, 257. 492, 680, &94, 1081 

Freight Rates, Need for Better 300 

French in Madagascar 684 

Georgia, Free silver In 132 
old. Abraded Coin anil Express 
Charges— Treasury Regulations Modi- 
fled.. 948 

Gold Exports Attract Little Alteulinn, 

•.,18, 256 
Gold Exports and Foreign Exchange 

Market 846, 892 

Gold Exports Neariug an End 490, 532 

Gobi Exports and Syndicate's Deposits of 

Gold 390, 444 

Gold Milling in 1895 '263 

Oold Holdings 01 Banks Increasing 1038 

Gold Price of SUver, Eflcct of Free Coin- 
age on 267 

Gold Reserve Above Limit, and "Mar- 
velous Industrial Contriit't" 6 

Gold Heccrveand the Coming Bond Issue. 1132 
Gold Reserve and the House Bond Bill. . . 1134 

Gold aid .Silver Mining in .\ustiala.«ia 540 

Oold, United States imports an t Exports 
of (nionthly)....87, 258. 492, 080, («94, 1081 

Grace, Hays of 138, 227 

Great Britain. Railroad Speed In '298 

Great Bntaln-Ru^sia— An Alliance Sug- 
gested 539 

Great Britain, Suggestive Features of the 

Elections m 91 

Great Northern Ry. Annual Report .895, 953 



H 



orse and Electric Roads, Relative 
Returns from. See RtKBET Rail- 
way Sdpplkmest, August. 



Illinois Central RR. Annual Report S39 
lliuols Central KK's Current Earnings. 

218, 984 

Independent Audit. Limitations of 988 

Independent Audii 01 Railway Accounts 635 
•' Industrial Episode"— The Wide Fluctu- 
ation in the Stocks 88 

Industrial Revival and Govcmmont Flp- 

ances 174 

Inequalities of Possession and Socialism 2(2 
lutcrual Revenue Receipts. Clinnges in.. 176 
International Kailwav C<iiJgre»s, The 

Laloandtiie Next 133 

'nier-State Commerce— Ohedience to the 

Law the Remedy for Rate Cutting 727 

Inter-State Commerce Coinmission 

Awards Damages tor Excessive Kates 949 
Inter-State Commerce Law and Unequal 

Rates 848 

Intcr-StateCommerce Statistics— Railroad 

Industry In a Year of Deiircsslon 732 

Irou Furnaces in Blast. 256. 445, 632, 846, 1039 

Iron Piodiicllon Increasing 42, Ua2 

Iron Production in the United States- 
Current 135 

Italy and the Abyeslnlan Question 221 



JalyDeoeonber, 1895.] 



INDEX 






Paoe. Paoe. ! Paob. 

Japan-Cbin* War, A PoMlble Reaalt | Ptr»ey— ProteotlintniirPobllcBflons 72-i j Sound Cnrrenpv Illustrated 687 

of 539 Poollog. Action of Board of Trade sad : Suutli, CoiiouMauiiraotarlngln, and tbe 

! Trantportatiou 63r ' •• • " "' 

Kafflr (Atiioan) Mlninr Sbare*. Break , Prodnce Kxchan.'r> iMev Tork),Tranaap- 

to 632 1 Uuiuon (muiiUihi ..13, 183, 407, SiNS, 

KiOCT Co'onty. BnUdlnic ArUTitT In 179 1 815. vi> 

I PnbUo LandSalen Diinlnlililng 

Lak" Rhnr* A Mlrhina Southern RR. 
V '■■ ^' • 10S6 g^voTjLTiny PrriLUtBtT (monthly!. 

-line 993 ^ Moniblr Ri'vlrwandMonthlyTablea 

'•■, and Vn- oft^tock Kxi-liiini.'e and otber Bond, 

M8 Slock. Ac. PrUc!.. 

to,Ttae Bemvdy far Rate < 

727' MyailroadCarand I.4iooiDotiTe Building 

., CarlUle at ■» In 1 " 

«92, 894 Railroad 

^'••Und'iiPlan KaUraa<l 



Lau'l 
Law 

Law. 

Cm 
Lm;:< 

Clr. 
L»c. 



1133 



.987. lOlO kallnuul 1..... 

aiW Rfportii . 

..'Iiance. 2'Jo. •iS'*. 2'.'- 

-.., »t.ll3« 4»2. 533, 534, .- 

113* 772. 808, 810. HI' 

Annual R^ 
590 Railroad Earning 



r,;i. 351 



WadMrawar. rrencb In .-•v,--- •"* '. Railroad Earnings .v^tiu 
»n,.',..t„ri.... i.wiiistriea of Maiaa 



AiIuDIn ExpuHitiou 090 

Soiitli Polti and tbe Geographical Con- 

urecs 301 

* I" >■" '■ 'ii"!ir. Ann"nl B«port 350 

• <19 in Groat Britain 298 

.^slimilon of 87, 137 

'•■'•Poweron 264 

1 York). LUtlnice 

.arlS95 94.1138 

s.- . .. ._. York) share Sales 

iiuoiitui.v) 4, 174.3!t2. 5fi8. 810, 086 

Stock K.x«liiiiiirn (Vew York) Transac- 
tions on (niontli1y).13, 182.407. 506.815, 097 

3.1132 Stock-.— Wiilc Fluctuations In ludiislilals 88 

1137 8tri<<it Rallwav Topics. See STKKKT 

' r^irrent R»ii.«-.t suPfLEMtciiTg, August and 

171. No\ iMii'ior. 

I'll. strii't K.iilways. Growth of. SreSTKEBT 

771. U\ii.WAV SuHPi.KMi.sT. Xovemher. 

■i-'rt, Stni'i Railways. lli'Mc ami Electric. See 

' 1.13. 1134 .StKKKT Railway Sui-ixemknt. Augusts 

Slrwt "-" «. WUatTbey Pay to etate 

:i)45> ami Stkekt Rau.wat Bcp- 

' PI 1 ml»er. 

"•-.1087 « ■••■i way.TbeSltuatlon In ... 

Iiond) Deposit of UoM with 

172,256, 

• - ■' and "Harrelous Indus- 



1 lor 



94« 



8 

390 

5 



'•>" ••■-, -.ii'-A- '"! Railroad BmUnr* an O' 

Mir. M>nU>ly>. «erQco- ! State and Fpd»-r>iM*H - 

TAi Railroad ■- ' " 

•fa*- M-tarInc Industries .lou— I 

"' ,- --■ "** Rallroa.! 

Mer. 2.58^ 506 Railrowl Ratr W.r 

»"• '".'iw Railroad Rates- h 

*•**""- "•■ ■* .'•,-^, Commlsalon Awar mmk 1j;iiiiui;i< lur 

- 1091 ExocssIts Rate* 940 

Jllrhimn rentral KR Yea t lOM b^i,„^ SlnkloK Punda'anid Btondi'sub- 

TIi.-lrCaii«e and Cure 1135 | iikrt Ootober 

M>>i-r»' Pmlncuousii;. S^i and Ba«lnea« i Batlraad HDeot In Grfiat Britain 298 Taxation. Unrqiial 992 

v<l«t<v *Ml£llISS»p^llin'.jSlBuSS::.V.V^'^ IS T<mr. - .- — Plan for Settling 



1 1 Payment of Pruflts, 

Return 586 

mIi. Operations In For- 

844, 346 

«\ n.m-uti- « u>und), ProOta Under the 
Bond Sale 532, 535 

'■^axatlon— Tbe Massaebosetts System 
I ■ 729, 775 



M"ii.*v iKi-! 
.V.iti.-.- ..; 
.Mr»n.-.v .M.i' 
.M»rit-V I'll 
Mouror 1).. 

M'lntlilv H. vir 
trit-r«-i;*I. .*^#- ' 
(•iiontiilvi 

MnnUMiMil It.iiwl : 



loramWklte. 



1043 

1 1 •^■1 



»p»e<l I 
Trunk 



Rall'oad Trunk I.iua AgreMtent for - ,' 

MalnUlnlnr Rutc« ^... 440 ^™"',. 

: lilroad Trunk l.iu>- Agreenent. Text of -J"^, 

M3. 003, 046, 953 "*'• 
.kilroad Tmnk I ini> Ootopael, New .». ■ 

637. 892. 016. 053 Tra.1.. > ... 



N" 



■in*. Oo«»e of ■ 992 Trade Uertral and Bai 
1 Harts. Relative ' 

.svi- snutBT RaII-Wat 
August. 
t of lte4«MMIa> After 

1CH3 

Aofl Railway Accoonlo. Indepeadeut Audit o; 

rta.^. OSS 
luna 



t 958 

krts All Disturbed 

.lions 770 

I irkcts "Waiting" 

770 

-iu» .. •• V' '?0, 318 



>. 1030 



. BallnMKl 
I B.Uf>il- 



Bi 



\«peets of tbe Veu< 
tMh noldlnirs 



. »12 Ballwaj v 

Healesll3-i _"', • 

179 B^I«»J 
I. LAto a.' 

535 *»^»' 
y Trwlc -1 

H Railway I'u 

n'RlirrV'iiiL RallwaT. of 

i,M.<i A int. • 



The 

of Board of 

II 

LdW lite 



988 

1 



-■•■. 808 

. i>.ia- 

1080 

590 

Tir-ementa for 

Wliyl 589 

i and Score- 

1088 

'1(1 Dlftlmrse- 
'!ou Not Re- 



'im Internal 



Modlfled as 
"•Its and Ex- 



811 
580 



UK 

'. lis trial 



948 
130 



RK. 



SAM llAle H'rfr«. 1;.* .ii'*-- 

RalM, rrPHIit. Sr. 

<■> Il-*ir«. 1.0W. aiiil ti. 



' I for Halutalnlng 



174 
5 



iiilarSiato Cum- 



aO^l 1 mil w 1.1 iM .ViTf 



■ i.ii. UK. ' 
kiiii Japan 



446 

TiiruT.Textof .643,903, 

946, 953 

uls Trntit I.lnr rnmpsct, New 637, 89<, 

946, 953 

uc. rourseof 903 

-. Invrstmcotaof 260 

,rt akl TurSiN lU'l th" ijrcut Powers. .851. 984, 
" *" 1039.1044 

898 



die 

Norway and Mwi-.|cn. I 



8l»»'' 



Oi 



,-AA and Kciro- 

... 846 

• of 
1>0«,1<>"<' 



774 Turkey .inl Itio Sultan's L4<tter. 
3)^4 i Tiirki- -...-../-»..._, 

! W^n ■ 



! of 63- 

* »h» Remedy for 



'I, How Hr«t ui 

T72. 

"-lator Tkar> 



- tlrrincnt 



w 



a WayOntof 1044 

i.v. Kromnlzatlon Plan 683 
KiDaui-es tor tbe Fiscal 

6 

1 1 oeral Productions and 

vcnvilT 498 

.'• Publln Land Salea Olmin- 
993 

! Roads. StalrmenU of 1086 

ill uuestlon and Monroe Doo- 

1083,1085 

lela (Jurstlon, Financial Aspects of, 

1080, 1133 
.1,. >^.....tlon. President Cle»o- 

1082 

.........1 i!..™.,.« 340 

11 222 



633 Wfi' 



I'lj,- In.u i'ii..ii, 
Corrtint ..,.. 



lOMi 

: lasl 



ports II r 
I Bodallsm biki i 



i'-<4iiMiiW»^ ■«■ k'v 



.- ,,.. 726 

; Viclilof 638 

'1 Money and Banking, 

- ... . 1042 

332 World's Consumption of Cotton iby oabla) 733 



Foreigrn OorreMponcIence, F'ina.noia.I, Oomtnercia,!, X<.a,ilroa,<ls, A;c. 

(Aiwiiuil tt pv iti an <nW«aMl <■• hUuk-fattd figuruA 

rkam. I Paob. • Paob 

%hh»ri!V4-" "■■ lOfls AltoonaClearflclil V Northern P" I'll ■— "• ' ■' 67 
iMi-'ii ■ •. 667 American Ball T.-l'iihooe Co rio Co 280 

>i\T-u I-.. RR 708 

^"- ■> -norlean Totf. - '■'- ..83 <.->.> i. '•>•! ■'.••••••■■"•.■- .i.-< kK 470 

•neaoOni' »*7l Ashuiy Park A Belmar SIreot Ry 703, 

.'HeanlMii;. 460, '^57. 1012 793,1012 

.....U.U.I .,, i.i. ..,. ,\,.,.-' --''-'- ' ••'■ "'■ • <■•■ f ■■■■'■<■■ \'« . 834 

5«9. 610. I104 924 
•tinrir By »14 Ai- 

— ... i-*~. -.;■,, ..«. iii.i ..■..-. r, 

. I;i; 74(> 6111, iWMi. 7i>:i. 7l'i. 7!i:(. >i-jti. xii. if.'-t. 

K '.JTO, 557, 792, 969 pflO, 906, lorj. 10^1 , I0«.'«, U06, 1133 

f 



nr 



INDEX. 



[Vol. LXr. 



Paoe. 

AUMtip Atv (Rttmt RR S10, StT, H » 

AtUi.i • Rr 19», 70n 

AUii 10«5 

AUan' fMW 

Atiact'i- A NiTiii 1 .iriilln* RR 470 

AUuilv* farlflr KK 111. -^80. -MB. 

6«i0, HVO. 870, UU4, 1106, 1153 

AtUaUcXhnrt l.lov RR Ill, I'M 

Aabara cut KB 74» 

Ab«u«U (lilt.) RiirrI Rr. TO.'i 

AiwnwU * BaraonAh RR ~ 111. TM 

BAlUmoT* Oltjr PauroKPrRT 1063 
•Ittaorn * Ohio RR .70, lll,l!V3, 

473, 5M, S60, 661, 703. 7 ID, HIS, 829, 

f»3S, ti'.'4, 93T, 1106. ll.')3 
BaniBMt* A Ohio Southwrritrm Ry. 

7U3, V33, U-JI. 930 
IWthnArr ft WMhlnictan Buulvvard 

El,.. - l.M, 2311 

Bani. ■ok RB 610,793, 8-.'!) 

B»n^ - > 7U.1 

B«n»t<>r Am. ri. , - V •■• 19.\ 6<I0 

Rank nf KoKlair ~ of (weekly 

by cable). lt*r ; -iiuatlon. 

Rank of Knclaii i« (weekly). 

/Irr Monetary i rolal EMlisb 

New.. 

BankofNi'' «!<> 

Rank )i(Ht< Boston nud 

flilla. (»• • "■ (tiiirette. 

Bank and 'Irn-.' ' ■ '. . « 

lo Sew York 

Gazette. In li . . . v 

Ttny St'l'fLKMKNT MlloM[lin'». 

Banker*' (iazelte (weekly) . ! . 17, ftO, 101, 

14-J, liin. 281, 270, 310. S.W. 410,457. 

501. M.%. »0», «4I». Otto. 73M. 783, 819. 

860, 009, 95*!, 1001, 10,->:i, 1093, 1144 
Banks, National. AlMlnx'to from Keportu 

to Oomptroller of Currcnr) 403, 91 ."> 

Banks, KaiiODaI,OmDl7.i-d (weekly). Ser 

Osmmerelal and MlnccllaniHiiiK Ki-ws. 
Ba7 State Oaa Co. (Del.) . .610. 793, 924. 1107 

Baatriee Rapid Tranult A Power Cu 111.') 

BeeehCre«k BR 7Wa 

Balialre ZanesTllle A Clnclonatl RR..26. 2:19 
Belt RR. & Union Btock Yarda Co. of 

Indlfinnpollx 08 

r • - , Teun.) 610 

, eoo 

I Kv.Co 151 

bpnimKiiaiii .Mitrnt-ia dt Tenne*««e Rlrer 

BR...' 20, 111.516. 8i.'9 

BoDda Called for Payturnt....l51, 324. 

470. ntil . 793, 966, 1003 
Bonda. Price* of all Cluiwe*. t(ee Q(i<>T.%- 
Tlo> BOPPLEMt'KT (inontlily). See 
Baoken' Onzette (weekly . 
BoDda. «feTltlc»— United Stateo, State, 
City, Municipal and Railroad Bond'. 

BoMon A Albany RH 194,280,364, 

703, 829 

Boston A Lowell RR 27 

Boaton A Maine RR. . . .27, 68, 280, 831 , 

470, S 1 3, 870, 10(« 
Bofitoo, rhlladclpbla and Baltimore Stock 
Exobanire Pricea (weekly), hee Bank- 
era' Gaiotte. 

Boaton & Revere Beach RR 1005 

Boaton Revere Beach ic Lynn RB 7U3 

Breadatnffs, Agrlc. Re|iorU ou..78. 290, 

481.671. 883, 1073 
BreadatnlTa, BrltUli Price* aud Statlstlcx 
(weekly). See Monetary and Conuuer- 
elal Enirllsb Newa. 
Breadatulb, Exporta of, from the U. S. 

70,291,481.717, 883, 1124 
BreadatulTMarketaDdBtutiBtiea (weekly). 
Bet. Commercial Ttinea. 

Brlgaotlne Bench RR 282 

RrooKlyn BrtdKe Proapect Park .k East- 
em RB 1063 

Brooklyn A Briirbton Beacb RR 1107 

Brooklyn City RB 68 

Brooklyn City .t Xewtown BR 829 

Brooklyn Klcviiiid KK ...19.5, 279, 280, 870 

Brooklyn Ohh (VwujiiiQles 473, 7.53 

Brmiklyu IIciKlitfi KB 323,323. 9:24 

Bronklvii Ouecnit County A 8ul>urlian 

(Street) Rh 7i)3, 1012 

Brooklyn Sinit Railwnya 740 

Brooklvii Tra^-llon I" .838,829, 9fi« 

Bnin«wlck T.niilnfil RR 830 

bnffalo A Nlaitarii Kiilln Eleclrio By 558 

Buffalo hoc eater A: IMtt*lmrK Ry 

330, 28(1. 65«, 703, 709. H.10 

BtilTiilo Stnit Ky 339, 8T<' 

Buffalo * ("umniehiinna KB 6S8, 793, 1063 

Buffalo North Main 81. A Tonnwanda BB. 5.5S 
Buffalo Tntctlou Co. (Kaffalo. N. Y.).830, 

1012, 11,53 
Bnlllon. Str Gold and Silver. 
Bnrllncton Cedar Btipida A Northern Ry. 74!» 

California Eaatem RR 1106 

" alumet Elect rli' Street Ry .|07 

Canada Southern RB 1106 

Canadian rncitle By V.IS 

Canal and Mlrcellnneoua Stock and Bond 

Mat. lire iNTKaTORa' SDI-i-I.EMF,KT 

(quarterly). 
Cape Kear A Yadkin Valley Ry..3(15, 55h. 

749, 830. 870, 9e«. 1 153 

Cape Girardeau Street Ry 2« 

Capitol Tnwllon Co 283. 328, 558 

Carolina Cnnilwrland Gap A Cbloairo RR. 

610, 793 

Cedar Falla A Mlnneaotn RR iiS4 

Celluloid Co 870 

Central Branch I'nion Paelflo RR. '" 924 

Central of Ueoricia Ry 740. '. 93. 830 

870, 873. 968, 1012, 1063, 1106 

Central Iron c> l.ijl 

Central Jei- ri Co 113 

ri"I"'!i,'i' l^^ 1063.1100 

Central Rl: ^- Co. of Oa..2il. 28 

68. Ill, Hi. i..:i. 195, 197, 2311. :f21. 

365,366,420. 470, 171, 516.600,601. 

703,749, 793 



Page 

Central Paclflc RR 26. 751. 1154 

Central RR. ofNcw Jeraey 280, 324 

CcntmlBy. of Peorlu (III.) 793, 966 

Central A South AnierlranTeleirrapb Co. 

870, 1005 

Central Traction Co (IMttaburit) '.Oi, 1154 

Central Traction Co. (.--ioux City, la.) 1063 

Centnil Vermont RK ; 324 

(Vulral Wiialilniftou Ry..611, 662, 704, 1012 

Ceuiriillii A Chexler Kft 195. 1012 

Cerrilloa C 'bI KK 1153 

CharlcHton Citv (H. C.i Street Ry 151 

Churle«ton (W. Vn.) Street Bv 26 

CliarlcKtoii (-leudeniiln A Sutton RR 1012 

Chi»tt»iiiHii.'i> Kelt KK 68, 112 

Cbuttanoo):» Kleitric Ry 749, 793. 1154 

CThattHuoova Konie A Colnrohna RK. 

195,470,793, 1154 

ChatUiiooira Southern Ry 68. 830, 1012 

Chattauooica Union KK .. .68, 5.59 

CbeaaiM-ake A Olilo Ciiiial 3o 68, 280 

CheaapcakeA Ohio Ky 331, 33« 

'Theaapeake Ohio A Soiitbweatern RB — 1154 

Cheater Valley KK 280 

Clilca«o A Alton KK 366 

CblcaKO A Atchlaon Hrid^e Co 5-58 

Cbloairo City Ry 324, 880, 960 

Chicawo A Eaatcrn Illinois RR 609 

Chlcaffn Elevated Terminal RB 151 

CblcaKO A Erie BR 559 

Cblcaar Gaa Co. ..6s. 558, CIO, 703, 793, 

924. 1012, 1106, 1107, 11.54 

Cbloaxo General Bv 924 

Chicago Great Western Ry S5S 

Obleago A JeSeraon Urban Traiult Co. . 516 
Cbloaso Junction Ry. A Union Stock 

Yarda Co 160, 1010 

CblcaKO Kalamazoo c<r S.tglnaw BR 1063 

CblcaKO Milwaukee .i: St. Paul Ry. 

I&1.41N, 437,1154 
Chicago * Norlliern I'aelflo RK..68, 924, 1063 
CblcaKO* Northwestern By.. I 84, 198,1154 

Chicago Packing & Provision Co 924 

Chicago Peoria A St. Louis RB.. 68, 195, 
230, 280, 324. 365, 470. 558, 661, 703, 

793 870 

Chicago Rock Island i Paelflo BB .' 793 

Chicago St. Paul Minn A Omaha BR 280 

Chicago Santa Ke A California Ry 610 

Cbl.-ago A Southeastern By 824, 924 

Chicago A South side Kapid Transit RR. 
26. 240, 2K0, 431. 470, 661, 1012, 1063, 

1106, 1154 

Chicago A West Michigan RB 703 

Chicago Wisconsin A Minnesota RR 924 

Choctaw Oklahoma A Gulf RR. . .68, 516, 

610. 1012 
Cicero A Proviso (CTiicago) Street By.... 280 

Cincinnati & Green River BB 470, 870 

Cincinnati Hamilton & Dayton RB.. .68, 1064 

Cincinnati A Jackson RB .324, 793 

Cincinnati Jackson & Mackinaw BB. 

130, 793, 870. 1106, 1151 

Cincinnati Lebanon A Northern RB 280 

Cincinnati A Muskingum Valley RR 151 

Cinelnnatl New Orleans A Texas Pacific 

RR 26, 67 

Cluolouatl Portsmouth A Virginia RR., 

70*, 966 

anclnnati Street Rv 366, 1154 

Citizens' Street Ry. (Detroit) 26 

Citizens' Traction Co. (Pittsburg) .... 112, 

616, 661 
City Bonda, Prices of. See QtlOTATiON 

Siii'i'i-iiMENT (monthly). 
City Klectric Street Ky. (Decatur, 111.).... 558 

City A Suburban Ry. (Baltimore) 661, 748 

Claflinlo., H. B 67 

Cleveland Akron A Columbus Ry 420, 701 

Cleveland Canton A Southern RK.68.240. 

793, 1010, 1106,1154 
Cleveland Cincinnati Chicago A St. Louis 

Ry 378, 864,559, 667 

Cleveland Electric Ry 749 

Cleveland Lorain A Wheeling RR 703 

Cleveland A Mahoning Valley RR 966 

(■|cvclan<rs. President. Message 1015 

Cleveland Terminal A Valley By 661, 793 

Coffee. See Commercial "TimeB (weekly). 
Coin and Bullion. Prices in New York 
(weekly). /See Bankers' Gazette. Prices 
in Loudon. See Monetary and Commer- 
cial English News. 
Colonial Electric Street By. (Kingston, 

N. Y.) *. 1064 

Colorado Coal & Iron Development Co. . . 661 

Colorado Fuel A Iron Co 26, 112, 152, 

324, 466, 47i, 1108 

Colorado Midland By 195, 557, 870 

-Olumbin Construction Co 241 

Columbia A Maryland Ky (Electric).. 239, 966 
Columbus A Hocking t'oal A Iron Co. 

2«, 195. 240. ,558, 661, 703, 830 1154 
Colnmbna Hocking Valley & Toledo RK . 966 
Columbus Huntington A Onyandottn RB. 

470, 793 

Columbus A Ninth ave. (N, Y'.) RB 871 

(Jolnmbus Sanduskv A Hooking Rv.26,68, 

195. .-^16, 558, 749, 830. 924 

Olumbus Southern RR 195, 470 

0>lumlins A Western RR 1012 

Commercial Epitome (weekly). See C!om- 

luerclal Times. 
Commercial and Miscellaneous Naws 

(weekly) 15.57,99, 141, 184,229, 

268. 308, 353, 408, 455, 499, 543. 597, 
647, 689, 737. 781, 817, 858. 907. 954, 

999, 1051, 1091, 1142 

Commercial Times (weekly 30, 73, 

117, 155, 200, 242, 284, 329, 378, 432, 
475, 520, 570, 619. n(i5. 711, 754, 796, 

833, 877, 933, 969, 1022, 1066, 1118, 1156 

Comptroller of Currency, Report of 1020 

Conistnck Tunnel Co 747, 763 

Com nrd * Montreal RR 27,68, 871 

Cone> Island A Brooklyn BB 195, 793 

Conneilicut Klver RR 470 

Consols— Dailr Prices of in London. See 
MoneUr.vand Commercial EngllBh News 
(weekly), 



PA(3E. 

(Consolidated Oaa Co. of New Jeraey 87 1 

Consolidated Electric Ry. (Fort Wayne, 

Ind.) • 1107 

Omsolldated Pack Ing Companies 794 

Consolidalod Street Ry. (Portland, Ore ) . 966 
Cou«olldated Traction Co., Pittsburg. 153, 1 1 54 
Continental Hatch Co 749 

CorS'Mcal. \ «« Breadstuffs. 
Cotton— S<« also the title "Cotton" in 
Editorial Articles. 

Do Acreage, Movement to keep 

down.. 1160 

Do Agricultural Bureau's Report for 
July, 17: August, 289: Sep- 
tember, 479 : October, 669 : 
November, 881: December... 1071 

Do Amount of Crop in sight (weekly). 

Do Amount on Shipboard not cleared * 
(Wf*kly). 

Do Atlanta Exposition and fotton 

Manufacturing in the fionth-. 990 

Do (Hearanees from U. S. Porta 
(weekly). 

Do Consumption in Europe. 77, 288, 

479. 733. 881, 1070 

Do Consumption and Overland Move- 
ment— June, 35: Septtniber, 
594 : October, 778 : November, 995 

Do Oop Movement, Consumption, 

Ac, in 1894-5 (Annual Reprt) 397 

Do Crop of 1894-5 Apportioned to 

States 758 

Do East IndlaCrop Prospects.. .382, 

575, 6«9, 800, 837, 1027, 1122 

Do East Indian Mills 800 

Do Egyptian, Alexandria Report by 
Cable (weekly). 

Do Egyptian Crop.. 159, 381, 575. 

758, 973, 1160 

Do Ellison A Co.'s Annual Review... 733 

Do Exports (monthly) . .79, 291, 481. 

717, 883. 1124 

Do Exportsof Yarns and Goods from 
Great Britain. 159, 333, ,524, 

715 938 1122 

Do Fall River Mill Dividends. .'..265', 938 

Do First Bale at New Orleans 159 

Do Galveston Exchange Election... 1027 

Do Georgia's First Bate '289 

Do In Sight 1894- 5 479 

Do Height of Rivers (weekly). 

Do India Shiiiments (weekly by 
Cable). 

Do InteriorTownsMovement (w'kly) 

Do Liverpool Market (weekly). 

Do Liverpool Stock 623 

Do Louisiana Agricultural Report... 246 

Do Manchester Marki-ts iweekly). 

Do Manufactures. Exports of (month- 
ly). ...121, 289. ,524. 758. 937, 1123 

Do Manufacturing in 1895. Fall 

River 938 

Do Markets and Statistics (weekly). 
See Commercial Times. 

Do Memphis District Report 669 

Do Memphis First Bale 333 

Do Mississippi's First Bale 382 

Do New Alaljsma Cotton 289 

Do New, First Bales. 77, 159,289,333, 382 

Do New Mill in Rhode Island 479 

Do New Orleans Exchange Election. 

1027, 1071 

Do Overland Jlovement (weekly). 

Do Port Receipts and Daily (jrop 
Movcmeiit (weekly). 

Do Quotations for Middling at Other 
Maikcts (weekly). 

Do Receli>ts from Plautat's (weekly). 

Do Sea Island Movement (weekly). 

Do Temperature and Rainfall Aver- 
ages 'J05, 333, 574 

Do Texas Crop 800 

Do Visible Supply (weekly). 

Do Waco, Texas. Crop 881 

Do Weather Record for June, 206: 

July, 334; August 575 

Do Weather Reiorts by Telegraph 
(weekly). 

Oawfordsville Water A Light Co 871 

Cumberland A Ohio RK 1155 

Cumborlaud Valley RR 152 

Dallas Belt A Terminal Ry 470 
alhia Consol. Street Ry 1013, 1107 

Dallas Rsilwav Union Depot 661 

Debt Statement (monthly). See U. S. Debt. 
Davenport A Rock Island Street Ry.H2, 

280, 324, 470, 753 
Delaware Lackawanna A Western RR. 

240, 420. 924 
Deer Creek A Susquehanna RR. .470,558. 1013 

Denlson A Northern Ry 470, 871 

Denver City Cable Co 324, 470 

DcnverConsol. Tramway Co 748 

Denver A Rio Grande RR. . 68, 279, 418, 

„ 431, 871, 1014. 1064 

Denver Texas A Fort Worth RR . . 1156 

Denver Texas & (5ulf RR 1156 

Depew ATonawanda R« 1107 

Des Moines A Fort Dodge EB 195 

Des Moines A Kansas City RR. . 1064 

Detroit Iftiy City A Alpena RR 281 

Detroit Lansing A Northern RR. . 324. 1013 

Detroit* Mackinac RR 281,470, 558 

Detroit (Mich.) Rv 749 924 

Detroit A River et Clair Ry ' '" 794 

Diamond Match Co '749 

Distilling A Cattle Feeding Co'.'.2'7' '68. 
112, 152, 195, 240, 281, 324, 366, 558, 
„._, , ^ , ^ 610,660,792,1153 

Dividends Declared (weekly). See Bank- 
ers' Gazette. 
Dry Dock East Broadway A Battery RR. 

152 1 3 3 793 
Dry Goods Market and Statistics («'e"ekly5 

See Commercial Times. 
Duluth A Iron Range RR..152, 661, 966, 1012 
Dnluth Mississippi River A Northern RB. 281 
Duquesne Traction Co., Pittsburg.,, 794, 1154 



Jal7-Dec«mber, 1895,] 



INDEPC. 



Paok. 

EanMrerAAtlaotioOoeMiRS. 020 
asiTmueoMe l.aDd Co 1155 

EaMcrn Trunk Uitw. .470. 6«1. T-t9. T(U. 

t)2l. 1004, 1107 
Edln.- ' -749, 1155 

Ediro rUalU- 

mct 1155 

El^lii '11)1 UK 3»4, 1155 

Elect -rVifoTATIojlScr- 

Elaotriv XracUuu Cu. of PhUa.. .152. 197, 

4«9, tf«3, 795 

Electrci Ga- Ci 1107 

' 9«3 

RB 794 

749 

tit fi> 749 

i • Ky. ...... 1013 

tu^.t^k CoiTe.>^uU«t*c« ikod C«bLe Re- 
port I vcrkly ) . &» MimetUT ajMl Com- 
ni'T'-l.il l.iii:li*h SeVfs. 
I 1013, I0B4, 1107 

: 470, 661 

'•■ ...381, 8dO 

I R 866 

74« 

1 - teeklj). 

D«Uj price* of 

K>. - f Bpeoto aBd Mo^ 

<. ValiwoftweaUT) 

-lUMeliaaeoosMew*. 

t>i 1 liuturUwfUteUiittejStetaa. 

- ' I '".1 Btale*. 

f^allure*. 4^ McreuitUe Pallnrea. 
>11 Brook KS. 7»4 

112 

:, 794 

..-<><;. MM 

I juuUr KK 871 

470 

470 

eai 

nee oa Market* 
• ry »a4 Ovauaer^ 



, I.-. -Ka_- 



.516. 

fir. '.'.'■ 



Me 

.. Ml 
* St. 
0»4. 926 

VaUer KR 104 
7UI 



O" 



Oui- 



tlitrninn Ry 



Ti. 



■ .'0 470,61" 
Ji ri.niilii <j 1 13,4',M, 

43*. 871, IIS.- 

r\*Kr 5:,. 

471 

"Tet* 



finmt >or -, ai7, 

„ ■ 94o!lloa 

vreeaBaj njtjMiia \ -i. i* > . »;4, 

Ooaar Ba(« (wecklr). «m<-.mi , ii. il/rt.*** 

H>«n«toini A Pommae ElectUdlv 
K.. (HiKmrtowD. Md.) ..1064 

Barrlinaii .<! >.■. n,. „,i, m UK HAS 

H»rv,v T'..ii- t ( .. .J,, 

Hr.t...n!;. M;,::':, ■. r , niirmt ('Pfcll^ 

4«« 

I. on, V.M 

••■ 

" 995 

" nodueb RB. 99 

1 J. S«9. SA8, (90, 

749, 966. 106S, 11B4 

' 8pe>'le end Mrr- 
Vaiuevtiweek'f > 
■o«llaiM«e* Rr«« 

' taeUiiMad9tale>. 

K^ra Rjr 113, 794, 

loi.t. I0«|, lotu 



I 

Irrtp. 



«•« 



. Btr«*tRjr 
•rtcrlr Art 
' «BIIT. 

Katlroad I' 

J37,37U,Jlu.;iUl, 
'■'>,J!M. 096. 744, 
.:. 1007,1009.1099. IISO I 



Page. 

LHVBaroiis' SnrrLF.MENT (publlRhed tbe 

l»!it Sanirilay of every third month) nrlU 

I" this Tuliiiiic St end of July 

■ . respei.tlv.ly. 

^•■ KB 46T 

It nnicrciul Tiiuee (weekly). 

Ir. 925 

Ir.t - >tCo toil 

lUiacaslrcct By 5.S8 

JsckmnTlUe Lnulnrllle A St Lonla By. 750 
•cksonvllle Maypori di Pablo RK ic 

Nav. to 152 

Jarkaonvllle St. Ao^ruxtlne A Indian 

Rl«rrBr 112, 470 

JaekionTlllc & Sombeaktcrn By 750 

JackMurUle Tampa A Key We<t RB.194, 

871 
Jarrla-Conklln Jlort«B«e Trust Co.. .611, 

871, 1013. 1064 
Jote Bnttn. Bsi^Klng, etc. <WMUjr). 8m 
Cotton B«part. 

Kannaa Hty Clinton \ Sprtoslleld BB. 1010 
aoaaaCtiy Fortt>c<iti j[ 111 "" 



'•>■ ' ' 

70, " • 

•241), .ViN. 7 •■ 

1)11. Tliy 

. 1K64 

a By. 471 

471 

339, 0C7, 1107 

: i'-M 

69 



ipUlaBB. 

27,1119. 8AS 

CltyGMOo 

City Memplita & Kirmlngbam BK. u 

Cltr AOwahaKl: 

KansaaCltyPltti>bari;dt< "'i 

Kan»a»fltr Wntir <n 
Kansaa ' 
Kan*a«> I 

Knilack; ^ 

Kentucky XtdlaJHl i 
Keokuk* Weateiu i 
KeVBuace Lake 8ii| 
KlBdwkoak* aa<l- 
Kia«» Omrty Me*" 

KiMCaQneraaABna. 

Klaiston A Pembroke kH 

KDokVlUe Cumbrxland iidii * LoBlarUle ^ 

KR -'471 

KnoxYlUenecUto By U9. 196. 24u 

LaelelaOaaUcMCo 69 

•to Rrte * Weatem BB 340. 

794 

LakeHaaawafltrept By ""onn. . „-.. ;!4i) 

Lake Share dr Mlebljnui I-" i:v ;».«. u35. 1 1U7 
Lake Street Kle rated Kh ' Uira.-") .97, 

4J1, 662 

LaiwaatavAQiUHTTTlllr KK 69 

LefetehOaalA Mi>*lmi«ii (\>...U9. 152, 1K4 

Lebl(h<» »■■• " ' nn. '■- • 

(.rlilith . 

l..rbll<h .V 

Lf h- ■■ ■ 

1 1.^5 

■. .. i'XIl 

nn>4 

-JHI 

K ,v .n 111)1)'^ ■ ■• it.iu. 611, 9*J5 

: Aiiil Loiwloft M.irketa iverkiy). 
iielitry and C'omtiioretal EB«IUii 

611 
4«tt. 999, 871 
■ • t3tj 

'>«5, 1155 
67 



Paoe. 

MmneaimllAA 8t. LouUBB 69, 6<tT, 1065 

MlnueHota Iniu Co 601, 1012 

MlM-«llniienii« Keciirillef. CjuotatJouK of. . _^ 
Str Ql HI ATI(» Si;ppi.EMF..\T (coiithly). Siw 

MI.«Kiiwi|>iil Vulli'v R ]<•«, ."559 

Ml'Hourl Kan. <ii Vexon Bv.ll3. 471. (i82, 

791, 967, 1U13, 1064. 1155 

Missouri Paelflr Ry 1.V2, 830 

Mobile & lJlruiiii|;littm BB 69, 1104 

Mobile J: (ilrard RK 793 

Mobile Uifht A Ky. Co 27, 282 

Molillo 4: Oblo Rk 239. 6&7. 694 

Mobile & SiTlOB Hill Ry " 282 

Mohawk .k Malone KR 926 

Monetary iind CotittiiiTcia! Eutrlish News 
anil -Market I'rlics l>v C'aiile («wkly) 
13. 6«. on. 139, 183. •J-.'S, 'Ji;?. 307, 3.'i2, 
407.454, 4U»<, 542. .■>!•<!, 04ti. (;s7, 73,r,_ 
780,816. B57. 906. 953.l>U8. lU.'SO. 1090, 1140 
Honey Market (weekly). Ste Bankers' 

rtaiette. 
Money Market In Ixndun and Continental 
T'ltiff* (wetklv . .V'* Monetary and 
: News. 



.-•naport A Wabaah Valley OaaOo 
■ «l<1aii<l RH 



II 



%99 

oO* 

.V .>.<>ii. nil' Kii ei', luti, ^10, 

(l«1. Oil. ••19,750 9:9,1107,1155 

' !(ew Aliisar * Ctrieice Ry . . & 1 s 

■.••alaATVi. r.: 063, 794 

rbaaStmi ... 611 

I'ttrbam Ht! 471 

IIJ, 153, 1065 



in. 030, S71 
: lIKI. 

166, 471 
V5W. SOW 

3S4 

..« 10< 

io«r, 



"u Ji .Nor.lirrp K: 

Maine Central RR 

Halm • Ami. L.a«rrucr h 
KiiilllhCare KB 
abaabe'-trr ,k Aiik'nM i- 

Haarbrx' 
Naaebe- 
Mailbat' 
M.I 
Ms 

Marietta X .■■■ 

Market 81 rr.-: ' 
MafTlaO'' 
Mary Ian 
IfaaipM* '. 

MctaaatlUi I'ailuru 

MerakamUae, stock* of. 

fiO"uHilv. .30. 'Jf 

' ••mnierrisl ^ 

-ire.rl HI; 



669, 067 

•01 780 

151 

326 



■'>. 
i7 9, 334 



uui street Ry. 

! .!iaoi)<U«ttRy.(N 

I MetropoUUa Traction C<> 

M- West Side l.lcvatal (CUl- 

- ....69. 431 

il Ky. 281 

■sphCo lo«5 

raeaA PsciflaMI 196 

• I Rk 11U7 

...472, lOII 
3rt« 

1013 

907 

794 

■ RR 281 

MiU.>iik<;a8UiwlUy....l 100.1. 1107,1155 

MliiiiiKStacka,Prlteaor. > <r i^ui.tatium 
arrrtanBiiT (nwthly). 



... 1106 

. 662 

:!. 1012 

S30 



il, ijiiotatloiis of. .See 
... .- L I'l-LEiiKXT (monthly). 
■1 -KcKuu TcruiiualRy 928 

\a.<.hTUle Chattanoo^ A 8t. Ixtula Bv. 
472,411, SIS, 1107 

MaahTlUe Traction Oo 559 

N»>aau Electric Ry 152, 829, 925, 966 

N nilooal Banks. St* Banks. 

.NutlooalLeadCo. 817, 1107 

•> ' -I ' '• ■lOilCo 325 

'oul*» 611 

Haak 1150 

■■■■'>^o. 1065 

703, 1106 

■« 473 

Conneetleut RR. 

468, 967 
New . .i7, 420, 472, .^17, 

•ill, 662, 871, 967 

N"e» I Ik RB 919, 871 

Ne« I KR. : 47a 

^ 611 

a RR SIS 

; 69 

n hii 1107 

> 871 

l« 9911, 831 

S-it i.iii. ■ • ■ - . 1107, 1155 

Sew York ' t-r RB. 

'i,Hi:o,ll07 
Xew YorV ' i-.m. ,. u .240, 871 

.New Yiirk 1 nilcmrnt (weekly). 

.s r K tli> 

New", 153 

New linporta 

iwe. : Mlsoel- 

lancMi* >(«>«'>>. 
Kew York City Forelirn Trade (monthly), 

Hi<>. 2iw. 4 )«, 647. 8*8, 1081 

Sew York '; 1060 

New York a • y. Lines ... 240 

New Yiirk I ' rVi Rk 240, 

v»i.a.ii. "17. 5.M», 

'. 9tlM, 1064 

Kew York .' ' 935 

Kew York. V 1.1 'I 1107 

KewYorkANeo liK. 27.69, 

'7. 420. 517, 067 
Sew York New llm. id R . 

113,240.466,47:*. '<i!»,tlll. 

' 'I. H3 1,1155 

New York .k New J 'r-' 928 

>«w York uotarlo A 278, 

.; I, .W!», 871 
New York Pennsylvania .\ nhi" i^R 472, 

«72. 925, 1068 
Sew York * Plillsdelnhla Tnirtloii Co. . 113 

New York. k gnveii- CiHiutr Ky 1065 

Raw York ic Kuckaway Beach Railway 

4119, 1150 



»57. Wij. :''.K. loi!>, 1140 
Hew York Stock Exchauicc. Ll^tiuKH ou. 

•le ';;'. 11-'. 103 

Rew>- - 'e 

Boi. 
Rew V. . - 

240, 420, 692 

Now York * Wp«lrhe«ter Water Co 1108 

MMLiira t-all« I'liw.r Co 69 

'! SIS 

.'40,471, 04,925, 1013 

'•0 1013, 1064 

1; . 152,100,325,517,1155 

•riy 517. H«2. 794 

iUiB Kk... 872 

Norili ."liiM. li.ii'Uoii Co. (Boaton)..112, 

(102, 9-.i6. 1010 

.\..rlli.rii Al.l1.. una Ry 829 

r«.y KB 3M4 

"240, 282, 750. 794 

KK H7, 196, 24 I. 323. 
3«4, .i'i7..M7. SSI.."<.^0.011.662. 70t, 
7.'.0,7ll4. 838, «J1, >»72, 925. 1012, 1065, 

1108,1100 

Sortbenstem BB. (8. C.) IIOS 

Nortliweateni Elevated (Chli-oKO) Ry. 

113.241,325, 472 

OHtK Market (wecklvi- *'«■ lln-iidstuflli. 
Udeii«liiiricAI.HkeClmiii|>luluBK.4«8, 026 

Ohio Mv.r * (■Imrlentiiii R.. 27 

Uhlo Southern RK .. 27, 152. 325, 307, 

750. e7'2,n20. 101-3, 1065, 1155 

OldCnlooy RK 172, SIS, 517, 659 

Olympla Light Jt Power Co 817 

Omaha * B«poblioau Valley Ry 47S 



n 



INDEX. 



[Vol. LXI. 



i*l«t l.ivit. ItR 
Orrtcuii I 
Or.- 



Or. 

27 ' 

O«weico 
OIU* u '< 
UvtrUiKl l:K 



PaOI. 

oil, )()6^, nos 



1 -.■-■ 

')3. 1IS& 

i:v., 

'-•(J. Utll. 1013, 1108 

75<> 

Ifl'J 

6&9 



F., tp • r«l.!c (-.( ...in6K,lI08 

'f.Cu 'J5, 2U, :>60, 7US. 



1 



1013. 1108 

l«. Ilnnils Iskin-d to. S€» 

VI. 

ai8 

RR..69, 

('13,1107 

iBH ■13.1108 

PaMHtc A- Scwark I .■ i . . .iiu- 

|);i; 420 

Pen \ KR 871 

Peui . I Heat A PowerOo. 

749, ILI.-i 

PmniTlviiDinMMlaud RR lOti.^ 

P*iinMiv.iiiln RR •-'8,69,196,472,751, 79.'i 

P«-ii (o 69.326, 472 

Ff ■■.\. (I'btlii.) 469 

Pcoj . ■ lft2,lU7,469,56u, 

668, 795 
Paeri* l>ccatur 4i Kraimine Ry 282, 367, 

131,472.517,569,612, 831,1108 

Prc.i HiiUway* 367 

Prl 1063 

Pel <ee Commercial Tlmea 

Pet! tU 70. 291. 481.717, 883, 1124 

Pill leuiriil nnd Prtce* 8toclu 

t •• y). Stt Bankers' Gaiette. 

Pli i;rli> KR 517 

Pill '*<■" 517 

Pbi i uic RK..28. 70, 113, 

!■ ">I7. .S«9. <«i3. 750, 

''■• -. 1014, 1065, 1108, 

1100,1135 
PhUadelphla Ecadlug&New Entrlaud KR. 

241,431, 831 

Pbllad(')|ililu Htteet Ry. Coniiulidntlon '283 

Phlladeliibia Iractluu Co.. i&l, 1.''2, 197, 

.■569. 863. 11.55 
Plilladpl|>lila WllmiuKton di Baltimore 

RK 



Fine Bluff* Eufttrrn RR 

PItUbnric AkroD A Weitrrn RR 

Pitiabiiri;, Allcgbeuy A MuookeHter Trac- 
tion Cu 

PItlrlmri; Jk RirniiUKbnni "rractloii Co..!. 

Plltuburic Cincinnati Cblcai.-ii A- St. Louis 
RR 151. 751,87'2, 

PItUbuTg Clrvelanrt A ToJcdo BK. 

PittkbuiK Cradon A Maii.sUeld Traction 
Cn 

Pill- UR 

Pi" •■ * Ch'caiio RR....! 

f'"- ■ la * Wbeellug RR 

Pltt»i.nrt; .'-liriMiiiiii.v Lake Erie KR 241, 

Piltabur^ (Pa.) sirctt by. Conaolination, 

~ - I'^a, 

PIti- 794, 

•Kton RR 



i-nger Ry. 



282 
612 
240 

1108 
282 

1155 
70 

612 
153 

872 
282 
7»5 

.■)17 
1154 
28 

612 
1156 
1014 

704 

926 
70 
1014 
469 
1014 
1124 



705 
472 
472 
747 



Pit I 
Pill 
Pill i: 

Pit ilx'tbRB 

Pill . ., KK.... 

Port i:. \:i\ .1 « .^t.ru Carolina RR..283, 

704, 
Po^tftJ Tf'ii'LTnpli <'ahle Co.. 

Poll , in hR 

Pf" 'yl'land BR... ■.■'!!.■ 

P^l.^ held KK 

Provi^i... ~ 1-\|.. It-. 79.291, 481, 7i7!883, 
ProrUtonit Market. Ste Commerv'l Times 
(wrcHv). 

Pu ■ "<• I nlled States Debt. 

•^1 ' (Bangor, Maine) 

Pi" ' 197 

Puei.Ji. 1 ii, in- Street Ry 

Pnllmaii's Palace Car Co '..'.912, 

Q't'ty BR 282 
I'lty Ry S16 

V(i ■ 1 (imiilisbed 

mMiiliiji will I.. i.mumI ill this volume 
on July II, Aiiit. lo, Sept. 7, «xt. 5, Nov 
2, Dec. 7. 

Railroad Coustructlon In 1895 1142 

ailrniMl KnriilUKs. Sfr Kditorlaj AnV- 
rl' • ■ H" Bnnkeni' Uatette 

ai lit and Railroad lutelU- 

„;;' 1142 

KaK .1^ 

R«>| lid Bond List. «'ai](vs«r^ 

I'h- • NT (111 ninuUily). 

KailiiiMii - 

Railnwd u. prioes of. 

*•' K: weikly. Ste 

, V ' iiiontbly). 

«•!' ■ Rh 751 

S'l »'iiy 737, 1066 

"•■' ■,, 1014,1118 

S" 'BR saa, 831 

Kei i. rti' •-'«. 7(1. 1 13 

197, 2M , ; - i(i 

IU7, «1<' II 



Pbc.'. • 
Rill > 
Rbl i 

Till* HI 

RlrliUK'Ud A PrlrrsburK HR... 



'.■'. 11.52 

. 1014 

K.IIU& 

' ■ MV- 

...t03, 1014 

.I0»'/ 



Kicbiudiid sin-pi » J. ( ttlclunund, In«i.) 28 

Bilbnii nd liaiiiou Co 472 831 

Bio Grande & KMUta re KK ' h8 

jue Oiude eotuiiem ua.i&a, 872, ioii; use I 



Face. 

Pb. (Ininde W..«terii Hy 701, 7«i8 

■ I- ■ I'- -"'DC City) 228 

5.58 

'282 

, 398, 026 

1 153. 107 

l! ...._ 283, 328 

Kii('k|MH I .v .Nui iini II an...,. ■. .. 1108 

Rutland KK 194 

^aiTBUient. ■■' ■'••••' V Pownr Co. 1.53 

^t. cioml r Co 282 

W..l'.s.|.h A : .'J67. H31, 1014 

HI. .loKi'i'h ,1 A I'owcrCo... 020 

St. JoM'l'li 1 ! :.rlitiiiKCo -.328, 026 

SI. LawriiM. li.ck KK 026 

St. I^uis Alum .V iirm Haute KK. 68, 

195. '239. 2'*(>. 3e.'>. 431, 558, «S 7, «61 . 703 
St. Louis Cape (.iirurdeau A Furt Suiitb 

Ky 282,704, 872 

St. Louis Cliioaifo 4 St. P»al KR 872 

SI. LonlK Irou Mountain ABoutbern RK.. 1.52 
St. Louis & 8au t'raDclsoo Ry..67, 151, 

470, 616, 557, 703, 820, !)«.'> 

St. Louis Southwestern Ky 560, «o8 

St. I.OUU SpriiiKllehl & Peoria RR .558 

St. I ouisHircet Ky. Consolidation 197 

St. Paul.V Uiiluth UK 6.i8 

St. Pauli;a»Ltiibt Co 872 

St. I'uiil Mluu. A; Man. RR 558, 703 

San Ulego laud & Town Co 612, 795, 1065 

.•*an IJiego Paoitlc & Eastern RR 70 

8au Franotaco & North PaciUc KR 160 

San Frandaco it Sau Joaiiuiu Valley KR. 

872, 1156 
Savannah Amerlcus A Uontgomer}' Ry. 

196, 420, 470, 610 

Savannah A Atlantic BR 1 53, 195 

SBvauiiah Florida it Western RK 661. 968 

Savauiiab * Wistem Ky .28, 68, 195, 

107. 305, 420, 470, 661, 703, 1012 

SohuylklUTrattiunCo 663 

Seaboard Air i-iue RR 751,1153 

Seattle Consol. Str«!et By. .569, 612, 968, 1118 
Seattle Lake Shore <b Eastern KK. . . 747, 

79B, 1014 

Second Avenue (N. Y.) RE 282, 872 

Shetllcldlron & Steel Co 153 

Silver ami Hold Coins. Prices of, in New 

York (weekl.vi. See Bankers' Gazette. 

PnceH tu London. See Monetary and 

Ccinmen-iai News. 
Silver and Gold Export.^ and Imports ut 

».w York (weekly). See Comiiieroial 

and Miscellaneous News. Exports and 

ImiHirls or the U. S. See V. 8. Exports 

aim lmi>ort.-«. 

Sioux City * Nortliern RR 1014 

Sioux Cllv Tenniuiil KR & Warehouse Co. 431 

Sixth Avcuiie (.v. Y.) RK 025 

South Hriinswick Terminal RR 283 

South Califcrina Motor Road (San Ber- 

uanliiii'. Cal.) 283 

South Ciiroliua A Georgia HR 747 

South Jcreey .street Ry. (Point Pleasant) . 705 

South PeniiHVlvauia KB 1,52 

Southern CentrnlKR....28, 197, 377, 558, 611 

Soutlicrii Irou Co 151 

Soiitlierii New K ugland Telephone Co 795 

Koutheni PacifleCo 28, 420 

Southorii Pacitic KK. of Cal 67, 71 

Southern KailwaT..26, 67. 68, 113, 153, 

325, 363, 372, 4'20, 517, 569, 610,' 

1065, 11.53 

Southwestern RR. (Ga.) 926, 1150 

Spi'cle. See Gold and Sliver. 

Standard Hojie <fc Twine Co 862 

Standard Telephone Oo 472 

btHte liiinds. Market Prices, etc. iSee 

Bankers' Gazette (weekly). See QtlOTA- 

Tii'N .'Strii.E.MENT (monthly). 
State and Citv Department.. 37, 80, 124, 

163, 210, 240, 328, 3S4, 438, 483, 527, 

579, 626, 672. 718. 762. 803, 840, 885, 

941.976. 1030, 1074, 1126, 1163 
State and City Department Index. .166. 

202, 385, 581, 764, 978, 1164 

State Trust Co 795 

Staten Island Ry 737 

Statcn Uland Rapid Transit RR 872 

Steel Hails, Kates on from Colorado to 

San Francisco 1108 

Steinway Ky. (I^ L City)... 283, 377. 795, 

1014, 1065 
Sterling Excbanee. $r<! Exchange. 
Slock and Bowl Market and Prices (week- 
ly). Sre Kaukers' (iuzelte. 
Stock and Bond Tables. See Investors' 

StTi'i'i.KMKNT il'i-monthly). 
Stocks and Bonds, General Quota, ions all 

classes (monthly). S« (JcotationSI/p- 

PLE.MK\T. 

Stocks. Range in Prices of. See QtJOTA- 

TiiiN Sin pi.K.MKNr (monthly), 
strict Kailruad Seciiiities. See Qdota- 

Tins Stri'LtJiKNT (monthly). 
Street Railway and Illuminating Proper- 
ties 1011 

SiKKET Railway Supplkxemt will be 

found in this volume on Sept. and Nov. 

Str<;et Ky. and Tracilon (;o. Earnings. 

.Srr Investment and Kallruad InteUi- 

gem-e (weekly). 

Stonigi'Hfttlery Co 240 

Stuttgart A Arkansa* River Kv 283 

Sub Ticiisury. New York. Dally Transac- 
tions at (wceklyi. Ace Bankers' Gazette 
orCoiiiiiii I , liil :iiiil Miscellaneous News. 
Siil'iirli: <<). (Orange, N. J.).... 569 

Sumir. 1 ilal Times (weekly). 

SuperiiM II KR 280 

Siisquchuiiii;! Jt Tide Water Canal Co 473 

Syracuse Ulughamion & New Y'ork RR.. 

283, 82 , 920 

Syracuse Consol. Street Ry 70, 328, 704 

Syracuse Gas Co. (N. Y.) 1065 

^■^elesraph A Telephone Stocks, etc., 
M Prices of. See QUOXAIIOH SlJFi'LE- 
miKT (monthly). 



Paok. 

Tennessee Central RR 795 

Tenn.Coul. li-on.fe B-<.Co 153, 612 

T.unes.~«e MIdlaiiil RR 69,710,872, 1013 

Tfrliiiual Ki.or Buffalo 1111 

Terre Haute Elect rlo Ky 1060, 1108 

Texas I.ouisinuadi. Eastern By... ; 473 

Texas Trunk Ky -■ 241, 612 

Tex ai) Western Ky 328 

Third Avenue (N. Y.) UR.3«4, 795, 8«)», 

872. 926 
Thirteenth & Fifteenth Streets Passenger 

Rv (Plilla) 1155 

Tobacco. See Ciimmerclal Tinier (weekly). 
Toledo Ann Arbor & ^•orth Michigan Ky. 

28. 70, 113, 328, 557, 792 

Toledo & Ohio Central Ry 408, Sit 

Toledo Peoria A Western Ry 514 

Toledo St. Louts & Kausas City RR..473, 

514, 795, 1066 

Toronto Hamilton & Butfalo ER 197, 758 

Toronto Ky 241 

Treasury. See V. 8. Treasury. 

TrICity Ry 470, 753 

Trow Directory Co SfiS 

TroyCity Street By.. 872 

TrunkLtties, M. etfng ,. ;.. 518 

Trunk Lines. Kates , — 283 

Trust Companies in New'^ork hnd Brook- 
lyn ,T ;.114, 154 

Trust Company Stockn. See Bank and 

Trust Conijiauy StocMb. 
Twin City Rapid Transit Co 279 

IT lster& Delaware KR. 3«4 
' ndorgroiuid Trollev 471 

Union Elevated RR. (Ohiiago)..431, 75:t, 926 
Union Gas Co. (Brooklyn).. 473. 753, 831, 

968, 1014, 1066 

Union Ry. (Chattanooga, Tenn. ) 610 

Union By. (N. Y. City Street). .468, 518, 

832 872 
Union Paolflo Hy..70, 153, 107, 241, 283*, 
.367, 377, 431, 47:^, 518, 612, 662, 663, 
704, 705, 710, 751, 705, 832, 872, 968, 

1014,1066. 1118,1156 
Union Paciflo Denver & Gulf Ky .710. S.SS, 

1066, 1156 
Union Traction Co. (Phlla.) 152, 283, 431, 

473 518. 569, 663, 793, 1022 

Union Traction Co. (Reading) 1118 

United Gas Improvement Co 79S 

United States Hond.s Held to Secure De- 
posit.sand Circulation (inoiitblv). .15, 

230,455,647,858, 099 

United States Book Co 431, 872 

United States Cordage Co. . .70, ll.S, 153, 

198, 241. 283. 328. 431. 518, 569, 872, 1066 
United States Debt StatHmeiit (iiiontblyl, 

56, 18.1, 463, 645, 815, 997 

United States Expre-is Co 710 

United States OoveriunentBond Redorap- 

tion 068 

United States Government Revenue.. 15, 

1«5. 4.5.5, 597, 817, 999 
United States Imports Exports and Im- 
migration (monthly;.. 93, 266, 497. 34, 

905, 10S9 
United States Leather Co. .114, 198, 283, 

603, 737 
United States Legal Tenders and National 
Bank Currency Movcinen's, Coniptrol- 
ler's Statement (monthly) . 15, 184, 455, 

507, 1051 
United States Mints. Coinage by (month- 
ly 15.220,4.55. 598,851:1, »»» 

United States Rubber Co 114 

United Slates Securities, Matk"t and 
Prii'Bs (weekly). See Bankir,' Gazette. 
Daily Prices of at London (weekly). 
See Monetary and Coin. Engli>h News) 
(luonihly). Seel^roTATm.v Suii'LIiMKM. 

United States Sngar Reflueiy 1111 

United States Treasury. Keport of the 

Secretary 1112 

United Traction & Eleetrio Co. (Proyl- 

dence) 663 

Univers.al GasCo. (Chicago) 70 

Utah Hot Springs & Ogdeu KR 70 

Utica Belt Line Street KK 1014 

Valley Ky. of Ohio... 70, 153, 198. 241, 
473, 50i». 661 

Vanderbilt Roads 753 

Vioksburg Shreveport & Pacific RK 515 

Virginias KR 793 

VBT" abash RR...; 364,377, 419 

»" aco & Northwestern Ry 431, 663 

Wasliiniitou Alexandria & Mt. Vernon 

Electric Ky 474 

Wasiiington i Chesapeake Beach Ry 795 

Wa.sliiu»ton & Columbia River RK . . 70 

Wa.shiugton Conntv KR. (Maine) .108, 283, 474 
Wasiiington & Georgetown KI4.2(-3, 328, 558 

Wateitown A Brownviile (Street) KK 10'22 

Welsbach Commercial Co 28 

■Westchester Electric Ky. (S. Y) 518, 832 

West Chicago Street Ry...'. 518 

West End Street Ky. (Boston). .518, 96S, 1023 
West End A River Side Electric Ry (Mont- 
gomery, Ala.) 70 

Wcst.Tersey RR 28, 431 

West Superior Iron & Steel Co 618, 795 

West Virginia Cent. A Pittsburg Bv..377, 556 
Western N. Y. & Penn. RR... 278, 293, 

701,737, 746, 7.11, 872 
Western Union Telegraph Co. .474. 600, 
„ . 926, 968, 1066 

Westiughouse Electric A Mfg. Co -ta, 

153,241, 871 
Wheat. Sre Breadstuffs. 
WheelingA Lake Erie Ky..l53, 569, 926,1009 

Winona & Western Ky 518 

Wisconsin Central KR...1II, 281 795, 

„, „ 924, 926, 964, 1022 

Wisconsin A Michigan KK 377 

Worcester Traction Co 518 

^anesville i& Ohio River By 1010 




financial/ 

xmm 



HBPRESE-VTINO THE INDUSTRIAL AND COMMERCIAL INTERESTS OP THE UNITED STATB8. 

(Katerad aooonllax to Aot of Oonicreu, In the yev 1899, bj the William B. Daiia Oompuct, la the oOe« of the LlbnkrUn o( Congrea*,] 



VOL 61. 



SATURDAY, JULY 6, 1895. 



NO. 1567. 



%\xc (Cht*ouiclc. 

PINE STREET. N. W. CORNER OF PEARL STREET. N. Y. 

CLEARING HOUSE RETURNS. 
For the month of Juoe and the six month* the exhibit is as 
follows : 



The week';! total for i:!! cities shows a (;&>» of 31-9 per cent 
over 1894. The increase contrasted with 1893 is 0-8 i>er cent 
an I the fallinfjoff from 1893 is 11-7 per cent. Outside of New 
York the ukri^K^'^ 'or the current year exhibits an excess, 
an compared with 1894, of 21' per cent, and the enin over 
lH98is 9'2 per cent. The decrease from the 1892 flgurea 
reacbe* 12*2 per cent. 




IV Par laM* ml etoaHace kf Ml««ra»k ••• Paa« 13, 



* Hot'toeladed In totata. 



THE CHRONKJLE. 



[Vol. LXl. 



THE FINANCIAL SITUATION. 

A national holiday added to the usual holiday char- 
Mter of buiineea at this season of the year, and not 
distarbed in the least by any conspicuous event, is in 
brief the record of the past week. With such bui- 
roundings it is hardly needful to say that our markets 
h»Te been qaiet While that is natural and true the 
prominent features have been such as belong to 
% year when the general outlook is promising. 
The prices of railroad securities have been firm and 
in many oasea have advanced ; good bonds of all 
kinds have been sought for ; manufacturing industries 
hare shown increasing activity, giving the best evidence 
in the advancing wages of present prosperity and an 
assured future. Kven the railroads of the Northwest, 
where the depression has been prolonged later than 
elsewhere, are reported to be getting ready for the 
large crops almost in sight. To be sure the industrials 
■nffered a lapse a week ago. Since then a part of the 
loss has been recovered. But it is to be said that so 
long as the values of any class of securities rest on faith 
not works, on secrecy instead of publicity with refer- 
ence to the companies' transactions and earnings, they 
hold a position almost wholly outside of current influ- 
ences and stand strictly within the speculative field. 

TheMarge surplus which the Government revenue 
figures for June disclose is a favorable face. As we 
make them up, including the National Bank Note 
Fand (see our lliscellaneous News Department for the 
monthly totals of the year), the receipts are 13,086,000 
in excess of the disbursements. Looking at the figures 
more closely they are not as encouraging as this bal- 
ance indicates, for the surplus appears to be the result 
of smaller disbursements not of larger receipts. We 
we nevertheless assured by Treasury officials that the 
outlook for the remaining six months of the calendar 
year is more favorable. Of course in July there will 
be a considerable deficiency, probably reaching flO,- 
000,000, chiefly owing to 7^ million dollars of interest 
due July 1, but in part to other larger disbursements 
which fall in that month. In October it is expected, 
we are told, that there will be a deficiency of about 
$5,000,000, but that the other four months of the cal- 
endar year are likely to show an increase of revenue over 
expenditures of at least $5,000,000. If these anticipa- 
tions prove correct the net deficiency for the last half of 
the year will reach only $10,000,000. As, according to 
the debt statement, the cash balance in the Treasury 
July 1 was $195,240,153, the balance on January 1 1896 
ought to be about $185,240,183. If the Department 
is able to close the year in that shape, after losing all 
of the Income Tax, the doubt respecting the Govern- 
ment's revenue will be at an end. 

The better trade situation to which reference is 
made above finds forcible expression in the figures 
of bank clearings. We have prepared our usual 
compilation for the month of June, and in some 
respects the showing is the best we have yet had 
for any month. In the aggregate for all the clear- 
ing houses there is an increase over the same month 
last year of 2-2-1 per cent. This is a- large and 
satisfactory ratio of addition. But no doubt it will 
be urged that the gain the previous month was even 
larger, having been 24-7 per cent, and hence that 
the latest exhibit is not as good as the preceding one. 
The fact itself is correct, but the deduction is not cor- 
rect. There was in June an extra Sunday, so that the 
totals in 1895 are based on only 25 business days, 



Coast section, which 
this time records 16 
the gains are largest 
and financial centres. 



while last year they were based on 26 days. With th« 
same number of days in both years, the comparison 
for June would have shown a heavier ratio of gain 
than that for May. At New York the gains have 
been especially large right along, this being due to the 
prominence of financial operations here. For June 
the increase at this centre is 30-7 per cent and for 
May it was 35-4 per cent. 

A notable fact, indicative of the spread of business 
revival over the country, is that outside of New York the 
percentage of increase for June, notwithstanding the 
loss of a busi ness day, is slightly larger than for May, 
the figures being 13*5 per cent, against 12'3 per cent. 
The improvement in this Cise is the more noteworthy 
as many of the Western points are still feeling the 
effects of last season's crop failure. For instance in 
the Far Western section the clearings fall 2'6 per cent 
behind those of a year ago. Some of the other distant 
sections, however, afford markei indication that 
business revival is penetrating into even the . 
remoter parts of the country. The Pacific 
in May showed a decrease, 
per cent increase. Generally 
in the Etstern manufacturing 
For the Middle States (includ- 
ing New York) the increase is 28*8 per cent and for 
the New England section 17'6 per cent ; for the Mid- 
dle Western seotion it is only 8*2 per cent and for the 
South 9-5 per cent. We may add that for the country 
as a whole the results are not unsatisfactory even as 
compared with 1893 and 1892. The totals are 
smaller than in those years, but not so much 
so as might be supposed. The decline from 1893 is 
about 10 per cent, from 1893 it is but little more than 
3 per cent. Considering that the 1895 figures are 
based on one less day, that prices of many commodities 
and merchandise (notwithstanding the recent advance) 
rule lower than in the earlier years, and that the conn- 
try is still contending with the effects of last season's 
crop shortage, the fact that present totals come so close 
to those when business was in a state of full activity 
affords striking proof of the magnitude of the volume 
of trade which is being done. 

The record of business failures for the June quarter 
and the first half of the year, as furnished by Messrs. R. 
G. Dun & Co., shows results just about as would be 
expected. The figures are interesting now chi( lly as 
an indication of past business conditions. With trade 
reviving, mercantile disasters we may suppose will 
again be reduced to small proportions. Under the 
direction of Col. W. M. Grosvenor, the statistics of 
Messrs. D un & Co. are being given with much greater de- 
tail than heretofore, the compilations now distinguishing 
between banking failures, manufacturing, trading and 
other commercial insolvencies, and when this method has 
been continued for a number of years the comparisons 
should be extremely useful and instructive. The fail- 
ures for the June quarter are reported at 2,855 with 
liabilities of $41,026,261, against 3,802 in the first 
quarter with liabilities of $47,813,683, but agiinst 
3,734 with liabilities of $37,601,973 in the June quar- 
ter of last year. la 1893, however, the failures in the 
June quarter numbered 3,199 and the liabilities 
then aggregated $121,541,239. For the half-year the 
failures number 6,657 in 1895 with liabilities of 
$88,839,944, against 7,039 with liabilities of $101,- 
739,306 in the same six months of 1894, and 
6,401 with liabilities of $168,879,539 in the six 
months of 1893. In this form the record is one of 



JCLT6, !«».) THE CHRONICLE. 3 

— ^ ^^^^^ ^^— ^^*^ 

improTemeat. If the amounU for 1895 look large per cent for ninety daya to four montha, and 2i@3 per 

neverthelets, it shoald ba remembered that in the early cent for five to seven months on good Stock Exchange 

part of 1895 all mercantile and financial interests were collateral, and no exceptionally low loans are reported, 

disturbed by the critic il cjndition of the United States lie-disconnting for Southern correspandents is 

Treasury, that though the Syndicate contract removed ^low, but some fairly large amounts have been 

the occasion for further fear on that score, yet busi- placed in the extreme Northwest, and there is a little 

ness revival did not g- 1 under full headway until the inquiry from the West. Tne supply of new commer- 

last two montha, and that, moreover, through the ciaj paper does not materially increase, but the lighter 

whole six months business had to be conducted on a demand tends to cause an accumulation in the hands of 

very narrow margin of profit. tliB brokers, and therefore the market has the 

— firwi Qmartt. — . . — jMONd ^Horftr — . m.pearance of being better supplied. The in- 

'TZT ^"J:^ Sr^ ^r^ ^rr" nntlon among banks and other buyers to 

1S8S 3.659 »46.i2i.05i 2.3*6 »v8,6oi .pt nothing below 3 per cent has tended to 

"8^:::::::::::::::3JS? StSliT^ 15^ ^.;?6:33.; r.auoe the inquiry. QaoUtlons are ermly h^ld at aj 
1999 2^18 8a.8M.789 2.241 29.229.370 per Cent for sixty to ninety day endorsed bills receiv- 
es* »^» i!'*"'!i! I'ftl !*?^'"! able, 3 per cent for four months' commission house 

1800 W23 t7.8S2.M6 2.162 27.4nc.tin «- .tt ..u Joi^ 

1891 3^5 42.167.631 2jii» 'le*, 3@3i per CBUt for prime fouT months and 3^® 

1892 3.384 39.284.»49 8.119 ;<8r ooQt for prime six mouths and 4(a4J percent 

189S „ **» 47.«-«.800 3.199 1- j j i • .u > • i o 

13^ ^^,04 84.137.333 2.734 jJOOQ four to SIX months Single names. Some 

1895 ...;..'... 3,802 47.813.683 2.M5 u.u.:f>,.- i.astem mill papar hsviug four months to run has 

No one needs to be told that very little new roid whs this week been placed at 2} per cent against 2^ per 
added to onr railroad mileage in the first six months of cent last week for the same names. 
1895. But as the indications now faror greater activity The Bank of England minimum rate of discount re- 
even in this branch of industrial work, it it well to note mains unchanged at 2 percent. The cable reports 
how very small the totals really were. According to the ijiscountsof sixty to ninety day bank bills in London 
" Railroad Gazette" of thii city only 547 miles of new 4 & 9-16 of f per cent. The open market rate at Paris 
track were laid in the six months- Tne " Riilway Aj^e" is 1} per oeut and at Berlin and Frankfort it is 1} per 
of Chicago makes the total somewhat Urger, and yet cent According to oar special cable from London 
finds only 641 miles. Of conrae tbeee figures famish the Bulk of England lost £6^,047 bullion duriog the 
no guide lo the probable addition the current six week and held at the close of the week £37,933,838. 
months. In the first half of the year new tnck-Uying Oar correspondent further advisee us that the loss was 
is always light on account of the winter weather, and due to the shipment to the interior of Great Britain of 
the present year ve kuow the winter was more severe j.')ll,000 and to imports of £446,000, of which £199,- 
than usual. Ktilroad business is by do means in a ikki were bought, £177,000 came from Australia, and 
state of prosperity as yet, bat trade is reviving, and £70,000 from other conntries. 

shoald the crops fulfill their present promise railroad The foreign exchange market has been firm this 

building is sure to partake of the general improvement, week without the least change in nominal rates for 

The low rates for moaey which hive been raiing at sterling and no change in those for sfttnal busi- 

this centre have attracted hither muni^ipU and State new nntil yesterday. The conditions remain the 

borrowers from very many of the near-by localitii s. same as those reported Ust week, a very limited 

Rochester, Buffalo and o.her cities in this S(«t>-, also supply of commeroUI bills, some offerings of seen- 

cities in Mtssaohaaetts and Rhode Island, have bor- rity draft* by Speyer A Co. and Kuhn, Loeb tt 

rowed here for periods ranniug to November, and even Co., and the deficiency made good by bills drawn by 

December in some caaes. These loans have been the Syndicate. In connection with the sales by these 

placed at very low rates and will not be paid bankers complaint has been made that while 

off nntil the taxes are collected, in anticipation sodm bills have sold direct others have 

of which the money was borrowed. This practically gone into the hands of brokers to the dis- 

fixes for definite periods many millions of dollars, and advantage of those bankera who were in need of 

it is an important factor entering into calculations as to drafts for remittance. This, it is promised, will be 

the future coarse of the money market. The surplus rectified in future. There was a report on Wednesday 

reserve of the banks was list week reported at 1^34. ■ that gold would be shipped this week, and it was said 

■ii:),'jio. Though the movement of currency toward that arraogemenu had then been mide for the export 

this centre continues, it will probably soon cease, and of • round amount. It was thought probable that this 

then the outflow will begin, and it may be important by rumor originated from the possit>le export of 

the end of July. Spanish gold by one of the bankers. The priu- 

Money on call, representing bankers' balances, has cipal drawers of ex shange positively aseerted that 

this week loaned generally at 1^ per cent ; some trans- not only would no American gold be shipped, 

actions towards tne middle of the week were at 1 per but that there was no necessity for such 

cent, while others, considerable in amoaot, were at 2 shipment, and it was said that the disinclination to 

to 2^ per cent, with a few transactions at 3 export gold is so great that there would be little risk of 

early in the week ; the higher rates were de shipments, even though the rates of exchange should 

manded for an ordinary grade of collateral. The be advanced one cent per pound sterling, for there is 

average for the week hss been about 2 per nothing in the situation which calls for gold shipments, 

cent. Banks and trust companies quote 1^ per as the Syndicate and other leading bankers are ready 

cent as the minimum for new loans, and very little has to supply all the exchange needed. The ma.-ket 

been done by them for the reason that they have been opened firm on Monday with rates for actual business 

engaged in disbursing July interest, and this has kept in sterling at 4 88^(^4 88} for sixty day, 4 89i®4 89} 

them out of the market with offerings. Rates remain, for sight and 4 89}<94 90 for cable tranvfers. There 

however, at 1402 per cent for thirty to sixty days, i was no change on the following day and the market 



THE CHRONICLE. 



[Vol. LXI 



closed firm on Wednesday at the above-mentioned rate?, ,^,^, 
though some bankers were bidding 4 90 for c ible trans- omuied.) 
fers. Yesterday the feature was an advance in the Baiiaio 



Dstiolt 



Deaver.. 
St. Paul. 



actual rates for long sterling to 4 SSi®i 89— the high- junneapoUs. 
est of the year— and this caused an advance in the ^JJ^—; 
rates for prime commercial to the nnpiectdentedly oieveund..! 
high figures of 4 88i(g4 88^ and in documentary com- 
mercial to 4 87i@4 88. The following table shows the 
daily posted rates of exchange by Uading drawers: 

Ki1_ Mon.. Tnw^ We<l„ Thura, Krt.. 
June «8. Julir 1. July! JulyS. July ». July 5. 

Brown Bro*....(g,,l,t^.... »>)« HOH 
tWiUyi.. <o 



1895. 
9 
18 
25 
27 
14 
23 
21 
12 
19 



June 

1894. 1893. 



15 
23 
25 
23 
19 
21 
11 
1« 



20 
26 
25 
26 
29 
24 
21 
20 



1892. 
9 
16 
29 
37 
26 
22 
20 
23 
24 



. — January 1 to June 30. — , 
1895. 1894. 1893. 1892. 



102 
150 
145 

89 

132 

133 

69 

99 



93 
137 
133 
126 
112 
113 
70 
83 



« 

119 

183 

178 

175 

163 

152 

130 

122 



9 

93 
165 
196 
139 
137 
140 
128 
126 



*KSrenn*Oo.i8iiibC... 93 



No. AmerlOA.. 
Bank or 



1 8lKhU. 

|iM)d«y>.. 



Montmri tSlcbt... 

[w-^i.n Bank 1 80 dayi 

of Oomnwrea. ) SKbt- . . 
lalilalbaeb, 

•IbaunarJ 



fw-^i.n Bank 1 80 dayi. . 

-- \\f 

IIaldalbaeb,Ick- 1 (lo dayf . . 



•u 
89)4 

80 
M 



MarabanU' Bk. 
of Canada. 



W 
90 
dOdaya.. 86)4 
8Ulbt «0M 



M 

WAS mi 



M 
go 

90)4 



)-W4 
90M 
89 
>U 

IW)4 

MM 

80 

SO 

80 

00 

VUH 

•OM 

89 

90 

8M4 

ooS 



89M 

90)« 

?9 

M 

>0^ 

90« 

8» 
90 

80 
»0 

8(>H 

ooS 

(•9 
00 



89 

90 

P9)4 

S0.« 

80 

90 

F9 

90 

8>H 

90M 

89 

to 

89^ 
90H 



The market closed very firm on Friday at 4 89@4 89^ 
for sixty-day and 4 90@4 90^ for sight. Eates for actual 
business in sterling were 4 88i@4 89 for long, 4 89^ 
@4 89} for short and 4 S9i@4 90 for cable transfers. 
Prime commercial sterling was 4 88i@4 88i and docu- 
mentary 4 87}@4 88. 

We have referred above to the favorable character of 
the statement of bank clearings for the month of 
June. We give here our usual table showing the 
figures for each month since the beginning of the year. 
We have already explained why the ratio of gain for 
the country as a whole is a little less for June than 
for May. In the earlier months of course the gains 
were quite small. As against 22*1 per cent for June 
and 24'7 per cent for May, the ratio of increase in 
April was 14-3 per cent, in March 7-4 per cent, in 
February 6*3 per cent and in January 8"5 per cent. 

MORTHLT OLBABIMOB. 



Total .. 4.186 3,397 4,324 4,696 24.001 20,971 29,689 29,767- 
OttieromeB.'. 218 211 230 240 1.385 1,29 7 1.556 1,451 

Total aU . 4,404 3,608 4,554 4,936 25,386 22,268 31,24.i 31,218 
OotoideN.Y. 1,923 1,709 1,928 2,129 11,198 10,320 12.878 12.309 

On the New York Stock Exchange business was 
smaller than in the month preceding but larger than a 
year ago. The following is a record of the monthly 
stock sales in the first six months of the last two years.. 
For further figures and a review of the market for the 
month, we would refer our readers to our Quotation- 
Supplement which they will receive with the^ 
Chronicle to-day. 

■ALES OF 8TO0KS AT THE NBW TOBK 8TO0K BXaSANOE. 





1895. ! 1894. 


litaai. 


Ifumher 
of Shares. 


Valuet, 


Ifumber 
of Shares 


Values. 




Par. 


Actual. 


Par. 


A-CtuoL 


fan.... 
fab.... 
t4arob. 


8,24»,90.S 
8.024.032 
6,128,539 


t 

S18,4«2.B00 
800,314,780 
499,445,800 


* 

19:.S3«.084 4.519,463 
185.10a.308: 3.173.527 
301.268.171 4.755.383 


I 

445,082,520 
810,597,250 

484,925,000 


887,823,270 
186,67 1,536 
281,108,748 


Utqi 

April.. 
May... 
Jona... 


11,396.476 

5.036.710 
8,832.707 
6.030.416 


1,118.193.05c 

482.469.356 
859.162.960 
679,44i;,850 


680.010,563 12.448.373 

271,711,290 4,024,651 
463,8*8,576 4.808.808 
318,670,724 3,395,727 


1,220.801,770 

398,238.500 
485,310,060 
336,156,400 


725,101,554 

219,543,822 
324,363,706 
239.451,431 


Silqr. 


19,0O3.S32 
31,396,308 


1,921,074,155 


1.054.270,689 


12,229,188 


1,197,701,950 


: 83,358,960 


<mo8.. 


3,039.257.205 


1,734,281,152 


24,677,559 


2.418,309.720 


1,608,460,518 



Clearinti. Total AtL 



4.407.442 eSu 
8.411.14n,45> 
4,038,238,490 



p.a. 



Clearing Outside New York. 
1895. 1894. P. a. 



4,060,698,711: -|-8'5 8,012,770,245 
3,210,412.334 -HI-8| 1,846.705,2«< 
3.760,337.201 ! +7-4 ] l,797,4e7,47.'. 



Jiaaary.. 
Fabmary 
March.. 

Ut «uar.. Il35«,l«7.e0! ll,031,.17«.S6t| +7-5I 8,S6fl,972,91f 

AprlL 4.289,820.786 3,728,423,077 1+14-3 1.886,341.807 



May. 4.864.e68.44» 8,900.173.927 U-21 7 

Jona. 4.4P4.!)19.13; 8.eOS.05l.92< +22-1 

M qoar.. . 13.628.708.302 I1.23A.9l8.9.-'0 -|-2ir4 

• ninnvl*. 9^S8S8"5.01^ 24.2«8.-*t7.T(99:+l4'0 



2.030.8 11.8S9 
1,923,480,045 



6,840,633,721 



H.107,00i<.8a! 



$ 

1,80S.034,7U 
1.486,402,641 
1,711,526,71? 



+8-S 

+4-1 
+5-0 

6.00?.!>a2.e72| +5-2 
l,710,104,88ti'lOV 
1,807,338.51' jtl2-S 
1,709,I71,U1.2| (-12 5 

' IV! 

+8-6 



6.226,916,091 



10,319,878,(631 



With ref < rence to the comparisons with 1893 and 
1892, the following shows the clearings at the leading 
cities for the last four years. It will be observed that 
every point given except one records better results for 
June 1895 than for June 1894. The exception is 
Omaha in Nebraska, and Nebraska we know suffered 
more from last year's crop failure than any other State. 
It is rather noteworthy that at two cities — ^^Kansas City 
and St. Louis — the 1895 June total is larger than that 
for either 1893 or 1892. 



The Erie statement of earnings for May issued this- 
week shows an increase of $195,724 in gross and of' 
$69,733 in net. The Southern Pac fie for the same 
month has $44,016 decrease in gross, $40,180 decrease 
in net; the Chesapeake & Ohio $262,011 increase in gross, 
$112,288 increase in net; the Louisville & Nashville $51, - 
895 increase in gross, $l,771increase in net; the Buffalo 
Kochester & Pittsburg $136,634 increase in gross, $49,- 
407 increase in net; the Mexican Central $1,583 decrease 
in gross, $76,528 increase in net ; the Denver & Rio 
Grande $19,794 increase in gross, $20,994 in net ; the 
Canadian Pacific $9,066 decreafe in gross, $31,111 
increase in net; the Oregm Improvement $19,042 
decrease in gross, $9,073 decrease in net ; the Rio 
Grande Western $5,516 increase in gross, $7,490 in- 
crease in net; the Chesapeake Ohio & Southwestern 
$32,241 increase in gross, $10,508 increase in net. The 
following affords a four-year compari.ion for a number 
of roads. 

, May Earnings.- 



rooo.ooo* 

omihed.) 
■•w York... 

Oblcago 

Boa ton 

ruiadalpbia 
St.Loala.... 
Ban Frao'oo. 
Baltimore... 
riUabiirK.. . 
CloolonaU... 
Vew Orleana 
Kanaaa Uity. 
Mllwaakee.. 
IiOtilaTt.le... 



BAinC CUtAKDlOS AT LBADtMO CITIES. 

— Jtitu. . /— Jonuarv 1 to June 30. — 

1895. 1894. 1893. 1892. 1895. 1894. 1893. 1892. 

$$$ « $$ 9 9 

2,481 1,899 2,626 2,807 14,188 11,948 18,367 18,909 
353 373 447 2,238 2,080 2,575 2,421 
414 2,260 2,046 2,529 2,443 
327 1,684 1,460 1,8(99 1,91S 
lOO 620 



181.5. 
( 

.Gross 231.502 
Net 41.(96 

Canadian Pacific (Jruss 1.441.428 

.Net 



Name of Kort(i— 
BuOalo Koch. & PItte. 



Cbesapeake .& Obio (yross 

.Net 

Chea. Olilo & Soultavest'n . .Gross 
.Net 

Denver & Klo Grande Gross 

.Net 

Kan. City Mem. & Binn Gross 

Net 



3S5 
388 
308 
102 

(0 
63 
98 
32 
42 
20 
28 



3i7 
243 
91 
51 
56 
55 
54 
2S 
S3 
19 
21 



3S8 
305 
95 
57 
64 
58 
94 
34 
40 
27 
27 



63 
65 
87 
66 
32 
41 
30 
34 



325 
338 
349 
329 
227 
249 
116 
161 



957 


629 


325 


382 


331 


373 


323 


379 


317 


365 


220 


278 


232 


275 


103 


220 


197 


196 



592 
333 I 
390 
376 I 
369 
251 
234 ! 
163 
189 



514.619 
833.811 
269.121 
104,116 
63,169 
578.805 
2r.,780 

8.1.379 
13.972 
LoalSTlUe & NaabTllle Gross 1.538.!I64 

Net 461.207 

Mexican Central Gross 782.718 

Net 381.610 
Mexican International Gross 2^5,4*^3 

Net 94,007 

N. V. Lake Erie* West Gross •2.276.212 

Net •8S.%2;il 
Dreson Improvement Co. .. Gross 291,898 

Net 61,871 

Klo Grande Western Gross 202,056 

Net 77,025 

:tt. Paul A Unlutb Gross 117.792 

Net 26,602 

8onthem Pacific Gross 8,580,P80 

Net 1,068.023 

Toledo A Obio Central Gross 0S795 

Net 2.812 



1884. 
« 

01.833 

def.S.Sll 

1,460,4''» 

613,638 

571,800 

166,f'P2 

161.R75 

1 1,851 

667.011 

228.; 86 

71,5F8 

2.180 

1,481,4«9 

449,4:16 

784.301 

2<5.062 

163.751 

50,783 

'2 050, 188 

'615,498 

810,940 

00.741 

106,510 

60,535 

140,0.18 

39,767 

3 «J4,800 

1,(0.J,103 

76,078 

1,143 



1833. 

* 
807,051 
100,461 
1,606,642 
500.685 
888,120 
201,733 
185,229 

e;,45j 

767.717 

302.M9 

71.882 

def.l3.9fl8 

1.761,613 

611,059 

712,743 

288,1.'j6 

173,743 

411,419 

2,611,611 

1 43,693 

817,942 

57,174 

214,102 

77.331 

168.883 

26,031 

4.157.051 

1,445,781 

112,700 

38,543 



1S92. 

t 
263.50* 
07,188 
1,702,624- 
600,084 
744,455 
167,176 
167,flO» 
46,868 
€86.405 
261,190 

81.211 

1.538 

1,707,878 

560,011 

670,832 

239,145 

191,926 

97,370 

2,617,666 

806,002 

309.674 

51,861 

217.80S 

75,171 

120,980 

20,088 

3,802,590 

1,258,623 

152,583 

60,021 



• Flfnires for I'OSand 1801 given on a basis sIlKbtlydllTerent from that fortbe- 
prevtoufl years. 



July «, 1898.] 



THE ( HRONIOLE. 



^Ti'be following statement girea the week'g moTemenu 
-of monej to and from the interior by the New York 
banki. 



Wtm WmMmt J»tt S. laM. 

Ctmmcj 

iM... ■■•••*••»•■•■* ■•••••*•■•*■■'■■ 



'a.r. B anlm S.T. 



><* tttuno' 



I- 



49a,«oe; 



>; »o«.eoo[ ' 

("wTsLOOol' 



Oala. Mia.000 

[eslm. 116 000 



•3.88A.0OO M.lSLOOOlOf. T83.0U0 



With the Sab-TreMory operation! (he reaolt ia a« 
follows. 



/•!» t. 



!■<• 



MkbvTs n.sMke 



Omttr 



mi 



M.is4.Mea«ia. •m.ooo 



li.iOdow n. a <»o«o OML M00.000 



To«1s»UI»adU«»l«— *«r«.....>lT.W»000>l*.7»t.»OOq»t«- »,»M.0O< 

The following table indioatei the amount of bnllioB 
in the principal Earopean banks this week and at the 
oorreepondlng date last year. 



AHL-aaiW^ 



»u.mtigfm. 

VoLUu »Mt t«a tm.imr 

Tec wnr. »•» 191 III Mi 







A MARVMLOUS ISDUSTRIAL CONTRAST. 

The QoTerament fiforea for the first of Jul/ ar« 
soteworthj for sereral resaoos. Probably tbe piint 
disclosed which is most marked is the changed condi- 
tion of the gold balaooa, briofing it ap abora the W) 
million-dollar limit. We referred to that feature a 
week ago in oar Financial Situatioo, and showed how 
the total had been added to bj the final payment the 
Bond Syndicate made to the Oorernment on Monday, 
Jane 'i\- It is not oeedfal to repeit any of thoie facts. 

There is a contrast though which this act of the 
Syndicate signalize* that must not bepa«ed unnoticc<!. 
We refer to the contrast between the industrial litua- 
tion the first waek in July and tha situation the first 
waek io Febmary. Nerer within our biatory hare two 
such ditaimilar epochs occurred sod Me together. Only 
fire months apart, and yet the oatlook of the one was 
dark and hopeless and of the other is brig at 
and promising. What was chietly conspicuoui 
with relation to this matter was that the change from 
gloom to cheerfulness came suddenly. It so happened 
that 00 a certain day, yea at a ortain hour of that 
day, aa if by some sleight of band, erery unfarorable 
feature that had existed so long and been so disturb- 
ing became non-existent. A still more wouderfnl 
fa^t ia that sinoe that hour not one of those irritating 
inflaeooee has retnmed but the progrea to brighter 
surroundings has been both rapid and uninterrupted. 

Tnere was nothing mysterious about the conditio na 
in which affairs were inrolred the first week of F<)brn- 
ary and out of which we were so happily and sad leniy 
lifted. The Uoremment credit and the standard nf 
Talnes dependent upon that credit were the source of 
our business dislocation and danger. It was only a 
little more than two months since the last bond sale 
had been effected. The bids were opened the closing 
week of N'orember and as a reanlt of that sale the gold 
holdings of the T — '. — --r the first of Dacember had 
been raised to f : ■:9, or about 5} milliooa above 

the 100 million-iloilar limit. This transaction was thus 
on its face highly successful but the details of payment 



disclosed and could not help to disclose the point 
of greatest senaitifeness in our financial arrange- 
ments. Secretary Carlisle in his December 
report to Congress states that the Treasury 
gold November 14 was only $61,878,874. On the samo 
day the New York Clearing House binks held say 
91 million dollars 8p3cie, or not far from 86 million 
dollars gold, so that the totil available supply in sight 
of the metal on November 14 did not exceed 143 million 
dollars, and of this, as it turned out, there were to be 
when the bond transactioi was completed 106 millions 
in the Treasury. Henoe, with only 86 million dollars 
in the banks (of which eight of these institntions held 
40 million dollars), the work of snpplying the Ciorern- 
ment with say 44 million dollirs was to be executed. 

It hardly requires stating that such a movement 
nnder such circumstances would develop friction. 
What the G jrernment was in need of was gold; what the 
would-be bond purchasers required to meet their bids 
(Sjcretary Carlisle's report gives the total number of 
bids at 486. amounting to 1178,836,050.) was gold ; 
what the Clearing House institntions had to supply 
this demand with was, say, 86 millions of gold, distrib- 
uted through all the 65 banks, of which 8 banks held 
ahont ball. No surprise can be felt that under such 
cireumstancec some of the would-be purchasers brought 
th^ir legal tenders to the Treasury to get the gold to 
protect their bids, thereby in anticipation of their bids 
being accepted weakening the reierre the (iorern- 
mant by the sale was seeking to strengthen. Finally 
after the sucoessfal bidders bad been announced and 
the settlementa with the Gorerament had been com- 
pleted, the stock of gold in some of the banks was so 
far reduced ttut calls by them were almost immediately 
thereafter made on the Treasure's gold, so that its 
stock on the 17th of December fell again below 
the limit. Altogether, as a result of this experience 
it was manifest, and financial circles ererywhere 
acknowledged, that another similar appeal to the 
banks for the purpose of fortifying the Government 
reaerre would be a failure — that the risible stock of 
gold was insufllcient to do the work. 

The public nerertheless were not without hope. 
Ooogren had just come together and the Administration 
had meet earnestly appealed to it to gtre the Treasory 
a bond payable in gold and authority to sell whenerer 
needed to keep the reserve intact. It bad also in a 
clear way made the need of the Oorernment obrioos 
for such an obligation. Kren the possession of the 
power asked for would, it was felt, go far towards re- 
liering the existing discredit ; for having the authority 
to negotiate a secarity which would command gold in 
any market of the world would be a notification to 
oipitalists at home and abroad of the intention of the 
Treasury Department and of its ability to perform 
erery currency function the statutes had imposed upon 
it. But as soon as the people's representatives in the 
two houses of Congress began to talk this hops began 
to weaken, the public to be discouraged, and the situa- 
tion to grow gloimior. Even in December gold was 
exported ; in January the exports reached the phe- 
nomenal and (when compared with our small available 
supply) the enormous total of $24,698,000, it having 
become apparent that there was no use at all in lookiog 
to legislation for relief. The situation in that partic- 
ular is manifest when we state that on February 6 even 
an effort to pass io th»IIoasea bond bill with the word 
"o>in" substituted for "goll" failed by a decisive 
majority. 



6 



THE (mRONIOLR 



rvoL. Lxi 



What fuUowiii can l>u brii'fly related. OiiKebruary 
1 the stock of gold in the Treasury was reported at 
•44,705,957, the lowest point it had ever stood np to 
th«t date, but the decline continued, the total beinj? ii 
few da;s thereafter only $41,340,181. For the week 
endir g February 2 the actual exports of gold from New 
York alone were $7,282,800. Tp to Thursday of that 
week, and also during the first huif of Friday February 
1, further amounts on private account and for shipment 
on Saturday were withdrawn, aggregating altogether 
during the five days beginning with Monday 114,180,- 
000 ; hence were it not for the subsequent devel- 
opments in that week the gold exports would have 
been many million dollars larger than they were. 
About noon on Friday a rumor of a bond sale, which 
had been current and gained some belief on Thursday, 
took a more positive form, ending in a semi-official an. 
ncuDcement that an arrangement had been substanti- 
ally completed and that New York and London bank- 
ers had agreed to furnish the Government with the 
gold it needed. At once foreign exchange dropped be- 
low the shipping point, orders at the Sub-Treasury for 
gold were canceled, even gold on ship-board was re- 
called, and $1,800,000 gold which had been withdrawn 
from the Sub-Treasury was returned. 

Fridaya seem to monopolize the darkest days in this 
country's calendar. There never was a darker Friday 
than the opening of February 1; but before the sun set 
the whole face of affairs had changed. The contract 
with the Syndicate was not actually executed until the 
next week, Friday the 8th; report said that the delay 
was not because the terms had not been fully settled 
but becauEe the President wished to give Congress every 
chance to authorize a more suitable bond for the pur- 
pose. The arrangement which was entered into February 
8 has proved to be a notably ingenious plan, admirably 
fitted to meet the exigencies of the occasion, and 
has been bravely— for it certainly was a bold en- 
deavor — and most wisely carried through. For a 
long time the undertaking was believed by many if not 
most bankers to be an economic impossibility — much 
like damming up the Niagara River. The complete 
success secured without a single hitch or back-set will 
always be a marvel however looked at. 

To the country the benefits derived from the Syndi- 
cate management have been unspeakably great. It re- 
stored the stability of our standard of values, it rescued 
our finances from a most critical situation and saved us 
from an impending disaster. Bat besides that, it has 
restored confidence, given new activity to the move- 
ment of capital, both domestic and foreign, and the 
highly promising industrial conditiors that prevail to- 
day are evidence of the results. 



00 VERNMENT FINANCES FOR THE FISCA L 
TEAR. 

In the preceding article we have referred to the great 
changes which have been, effected in the industrial situ- 
ation since last February, when the contract with the 
Morgan- Belmont Syndicate was made. In the present 
article we purpose reviewing the Government finances 
for the fiscal year which ended on the 30th of June. 

It has been in all respects a very remarkable year 
and withal a most trying one to those charged with the 
management of the national finances, and will always 
hold a noteworthy place in the financial history of the 
country. The previous year had been unfavorably 
distinguished in much the same way, but in the late 



year the situiitioii got a great deal worse and reached 
an acute stage. The Government had to contend at 
once with deficient revenues and a vanishing gold re- 
serve — either one bad enough, but both together form- 
ing a combination to check whose tendency it required 
all the skill and all the ingenuity of which the ablest 
and wisest officials might be possessed. There is 
of course a certain connection between the two, 
and yet each was at the same time controlled by, and 
subject to, independent influences and causes ; and to 
make good the deficiency in revenues by no means 
sufficed to restore and maintain the gold reserve, as 
was abundantly shown after the November bond issue, 
when, with the Treasury overflowing with cash, gold 
was drawn out nevertheles?, and in enormous quanti- 
ties, and a suspension of gold payments was actually 
imminent at one time at the close of January. 

As to the deficient revenues, it is needless to say that 
they are a novelty in our fiscal affairs. Up to within 
the last few years such a state of things waa actually 
unknown to the present generation, it belonging to a 
past era — the period of the Civil War. At the same 
time the fact should not be overlooked thit Govern- 
ment finances have not been in a satisfactory shape for 
the full period of four years. Even during what may 
be termed the last two years of the previous Adminis- 
tration, namely the year ending June 30 1892 and the 
year ending June 30 1893 (the present Administration 
not having taken office until March 4 1893), it was 
very difficult to maintain an equilibrium between 
receipts and disbursements. In both those years there 
was only a small surplus of receipts if the operatioas 
on account of the National Bank Redemption Fund be 
disregarded, whereas with those operations included 
there was actually a deficit in both years. Previous 
to thi8_ time we had been accustomed to seeing a very 
large annual surplus, running for several years above 
100 million dollars per annum, but Congress in pur- 
suance of the policy to get rid of these surpluses 
adopted the two-fold plan of cutting down the reven- 
ues while largely and inordinately adding to the 
disbursements. In 1893-4, when the pmic and business 
depression further materially affected the revenues, 
the deficiency reached very large proportions — almost 
70 million dollars if the Bank Note Redemption Fund 
be left out of the account, and about 5^ million 
dollars less if the excess of receipts from that source 
be included. In the late year the deficiency proves 
smaller fortunately than was at first supposed, and yet 
is large enough— being 142,825,049 without the Bank 
Note Fund and $43,837,000 with the operations of 
that fund incorporated in the results. 

Thus the situation is that, on one basis of reckoning, 
there has been a deficit for four successive years, a 
fact of much conseqence in estimating the trials and 
difficulties of the year, and in showing how acute was 
the crisis which has now happily been surmounted. 
These continuous deficits not only weakened the 
Treasury resources, but they weakened public confi- 
dence in the Treasury situation. At the same time, as 
we all know, the public mind had been made very ap- 
prehensive on the question of monetary standards, be- 
cause of our ill- starred silver policy and the unfortu- 
nate lesults attending it— i state of anxiety which the 
large gold exports, the weakened Treasury condition 
and the development of the 1893 panic did much to 
excite and prolong. Unhappily, too, all the develop- 
ments of the first seven months of the late year were 
of an unfavorable character. Tariff legislation was 



JctT 6. 1895.1 



THE CHRONICLR 



completed much later than had been expected, nearly 
two months of the fiacal year having elapsed before 
the Ee«r law went into effect. The distarbance occa 
■ioned to baeinesa interests while the legielation was 
being perfected was continued to a certain extent, 
though in a different way, after the law waa in force. 
In the Treasury reTenue accounts it proved a deeply 
diatarbing factor, making the receipts fitful and irreg- 
ular, upsetting estimates as to the present and defy- 
ing calculations as to the future. Then the cereal 
crops were short, depriving business recovery of the 
•id expected from that source. In November came the 
neoessity for another bond issue — a necessity aris- 
ing not merely out of an impaired condition 
of the gold reserve but also out of an exceptionally low 
«tate of the Treamry cash. In December Congress 
again convened ; the silver agitation waa renewed ; ill- 
advised propositions on various questions were offered 
for discnsaion and consideration, and there waa alio a 
renewal of gold exports. In January confidence became 
completely undermined, and withdrawals of gold from 
the Treasury were so continuous and on such a pro- 
digious loale that a suspension of gold payments was 
only averted through the prompt action of the (tovern- 
ment in making the now famous arrangement with the 
Morgan- Belmont Syndicate. 

All this belongs to the record of the year. If it 
serves to indicate the very remarkable character of the 
year — how full of anxiety to the Government and 
people alike — it also serves to point the contrast be- 
tween the situation •• it was and as it is. On Ftfbraary 
12th the net gold holdings had been reduced to #41,- 
346,181 ; at the close of the fisoal yeftr they sUnd 
at tl07,fil3,3€2. Kven as compared with the close 
of the previous year th« ibangs in this rsapect m 
very decided, for on Juno 30 1894 the net gold 
amounted to only Ui4,S13,0ti. Bat jet more striking 
is the improvement which has ooearred in the cash 
balance of the TrsMury — that is, the available cash 
after deducting the current liabilities. On the 30th of 
Jane a jear ago this balance aoioontcd to only 1117,- 
:i84,436, and thereafter steadily declined. At the 
time of the Xovemher bond issue, or more ezaetly, on 
the 27th of November, the bslance was only 199,606, • 
765. In other words, not only was the 100 millions 
gold reserve eerioBsly impaired, bat the Treasary ac- 
tually held lees than 100 millions of available casb of 
ail kinds. The bond sale of that month and the fur- 
ther bond sale in Febraary had the effect of raising the 
available cuh, and now at the end of the re*r it is, 
aceordiog to the debt statemeat, •105,240,153. 
Heoce, as compared with the low points of 
the year there has been an increase in the gold re- 
serve from 41^ million dollars to 107i million dollars, 
and ao increase in the cash balance from 90| million 
dollsrs to 192^ million dollars. As compared with 
twelve months ago the net gold is up from 64} million 
dolbrs to 107i millions, and the available cash from 
117^ to 195i million dollars. 

As would be inferred from the great increase in 
these items the total money holdings of the Treasury 
are alio notably larger. Of silver the net amount 
now is •■^'.i.f<t;5. :.-,}, ,g,injt ♦ '.80 ; of Treasury 

not*8 ♦:$•», li)'j.(!'.i.i, ag&intt ?. iuS, and of legal 

tenders 126,166,560, against 118,973,645; of bank 
notM thf l.'IliDgs were only •i,643,489, against tC,- 
Vi^.-j,;. ,k ,,i ,,r fractional silver $16,552,84.'}, against 
•17,h»y.631. Altogathrr, counting gold, the Oovern- 
Bcnt h<ld #214,960,702 of cash in its vaults Jane 3o 



1895, against only $141,787,882 on June 30, 1894, an 
increase in money holdings during the twelve months 
of over 73 million dollars. The aggregate in th e de- 
positary backs has not been greatly chane;ed, being 
$15,768,941, against $16,121,589. Altogether, there- 
fore, of cosh in banks and sub- treasuries the amount 
is $230,719,643, against $157,909,471. 

We have referred above to there having been two 
bond issues during the year. The first of these was 
made in November and consisted of $50,000,000 of 5 
per cents. It was needed both to re-enforce the gold 
reserve and to replenish the Treasury cash. Toe second 
issue came in February and consisted of somewhat over 
$62,300,000 of 4 per cents. This issue was necessary 
solely to re-establish the gold reserve and ensure the 
maintenance of gold payments. The total addition to 
the interest- bearing debt consequently during the 
twelve months has been about $112,300,000. The full 
amount of this increase is not shown in the debt state- 
ment, which reports the interest-bearing debt June 30 
1895, $710,202,060, against $635,041,890 June 30 
1894, an increase of only 81 million dollars. The 
reason for the difference is that the foreign half (some- 
what over 31 million dollars) of the last loan does not 
yet appear^ in the statement of outstanding debt, 
though the money in payment of (he same has been 
received and counts in the Treasury cash. 

Of course the iiel debt has not been increased by the 
amoantof the addition to the funded debt Apart 
of the proceeds of the bond issues went to make good 
the Treasury deficiency for the year, but a still larger 
part went, as we have already seen, to swell the Treas- 
ury oaah. We make the net debt, inoludin; the full 
amount of bonds issued, and after allowing for cash 
on hand. $932,830,667, against $899,313,380 June 30 
1894, giving an increase of $33,.U7,287 — not such a 
very bad record after all for a year like th»t under re^ 
view, and oertainly very much better than would have 
been mpposed possible only six months ago, especially 
when we consider that the expected revenue from the 
looome Tax failed of realization because of the decision 
of the United S'ates Supreme Court declaring the tax 
unconstitutional. 

In the previous year the increaie had been $60,343,- 
'■K)4, making for the two years an addition to the net debt 
of $93,861,191. These are the only two ocoasionssince the 
Civil War when the debt was increased. Previously the 
debt bad been steadily and largely reduced. Of course 
the change is an unfortunate and a regrettable circum- 
stance, bat it should be clearly understood that it rep- 
resents an abnormal, not a normal, situation, and that 
it will not be allowed to continue. The policy of this 
( onntry in the payment of its debt is indicated by the 
redaction of the debt from $2,756,431,571 August 31 
1865 to $838,969,476 June 30 1893, and public 
opinion will insist that any deviation from this policy 
shall be but temporary. 

Though the net increase in the debt for the twelve 
months has been only $33,517,287, the actual deficiency 
of revenues for the year was $42,825,049, and if the 
operations on account of the National Bank Redemp- 
tion Fund are included $43,837,000. The Government 
received a premium on both issues of bonds, and this 
operated to reduce the increaie in debt to that extent. 
The November issue was sold at 117*077, and hence 
yielded a premium of about 8^ million d< liars, and the 
February issue was disposed of at 104*49, yielding a pre- 
minm of about 2f million dollars more. As against 
$43,825,049 deficiency of revenues (not counting the 



19 



THE CHRONICLR 



[Vol. LXI. 



lUnk Ki'dt'nipion Fumi) in the lite yciir, the deficiency 
in the preTious year, as already pointed out, was 
•^9,803,261. The improvement ii the result both of a 
deoTMae in expenditurea and an increase in revenneg. 
Aggregate expenditures in 1894 95 were $356,135,216, 
againat •367.625,280 in 1893-94. The pension pay- 
ments were jast about the same as in the previous 
year, being •141,301,024; the interest account was 
about three million dollars larger, but the ordinary ex- 
penditures were reduced from •198,606,589 to •183,- 
827,072. The reductions in this latter case extend all 
through the list, the Civil and Miscellaneous expendi- 
tures having been •93,272,691 in 1894-95, against 
♦101,943,884 in 1893 94; the War expenditures, 151,- 
820,305, a;?ain8t •54,667,930; the Navy expenditures, 
•28,800,335, against •31,701,294, and the expenditures 
for Indians, •9,934,441, against •10,293,481. It has 
been suggested that the Secretary may have withheld 
the money for some of the appropriations, but such a 
policy would find no warrant in the state of the Treas- 
ury cash, which, as we have seen, is of the most ample 
proportions. 

As regards the revenues, these were disturbed all 
through the year by the operation of the new tariff 
law. In July and August the internal revenue receipts 
were extraordinarily large by reason of the heavy with- 
drawals of whiskey from bond to escape the increased 
tax of 20 cents n gallon. The receipts for the two 
months were •52,762,000, against only •25,252,000 in 
the same two months of the previous year. In the 
succeeding months of course the internal revenue was 
correspondingly reduced, amounting for the whole of 
the six months from September to February both 
inclusive to only •47,376,000, and for the entire year 
the internal revenue fell 3^^ million dollars below that 
of 1893-4. So too, the Customs revenues furnish no 
indication of their normal yield. We need only 
mention the item of sugar in illustration. The im- 
portations of that article before the new law went into 
«ffect, and consequently when sugar was still on the 
free list, were pefectly enormous, supplying consump- 
tive wants for months and thus depriving the Gov- 
ernment of the revenues from that source. In July 
the imports were 766 million pjunds, in August only 
149 millions, and ia September but 66 millions, after 
which the total increased, though only in a small way 
for a good many months. In the following table we 
■how the Government receipts and expenditures for 
each year back to 1879, the results being stated exclus- 
ive of the operations of the Bink Note Fuod. The 
receipts are divided so as to indicate the amounts de- 
rived from Customs, from internal revenue and from 
miscellaneous sources, while the distribution of ex- 
penses under various leading heads is also brought out. 



Expfndituren, 



FUeairtanm^M 



M7t.. 



BtcttpU fr»m- 



• CuMtomt, 



ia7.2S0.M8 

L8a.5tt,oee 
it«,ise,«T« 

i aW,4IO,780 
; ai4,TM,4«7 
1»5.0«7.4M 
I lt:l,«7l,»38 
I»t,U09,(»8 
ZIT.WD.SaS 
81t<.0WI,174 

nM8a.74a 
in.aa8.ee4 

KBJXbfilt 
I8I.U 8.580 
iat.74».40« 



internal 
AtftvniM. 



iis.8ei,«io 

124,00»,a74 

i36jiM.a8e 

14e,4»7,fil« 
144,710368 
1*1,688,078 
IlZ.40ti,7M 
lt^80^»S7 
118.8»,S»1 
124.M8,)ITS 
180.881,614 
t4S,«(e,;0« 
146,«-«,9«» 
168,1)71,078 
18I.Ot;.«e4 
147,111.888 
143ja7.4m 



MitciUaneout' Total. 



t { 

a3,«is.6se I 

S7.SeS.2Sl I 

36.016.0% 

88,860.716 I 

•1,866,306 

S»,780,041 

88,788.787 

85,802,933 

86,878,089 

88,886,803 

S0.806,6»e 

27,408,90!) 

»8J>18,747 

8l,4dH,«88 

18,798,866 

i6.9»aje97 



873.827,184 
338.686,611 
800,782,898 
403,626,250 
SWI.887,S8I 
Sl«,f,l»,»;o 
383,>l90,7ua 
83i),43»,7S7 
371,403,877 
87V,2a«,07& 
8S7,OSO,0.-.9 
403,080.9m 
398.612.447 
364.937.784 
385,819,629 
897,782,017 
818,310,169 



Ordinary. 



196,486,463 
118.812,880 
187.0S3.618 
180.560,030 
140,836,488 
184,118,638 
152.738.118 
188.498.128 
146.161.601 
134.650.443 
153.870.868 
154.700,84' 
193,409,&9H 
I87.06J,161 
196,856,004 
198.908,58? 
183.827.678 



Premiums 
on Bonds 
Purchastd. 



8.796,380 
1,061,849 



8,270.842 
17.898.368 
20.804.284 
10.401.8-.tl 



Pensions. 



3S.181.483 
58,777,174 
60.069,880 
61,345,194 
66,618,574 
66,489,328 
68,108,887 
68,404,864 
76,089,102 
80,288,509 
87,684,779 
106,936.865 
181,415,951 
134,683,053 
159,867.558 
141,177,288 
141,391,684 



Total. 



* 

105,387, 
95,767, 
82.508, 
71,077, 
60,160, 
54,578, 
61,386, 
50,580, 
47.741, 
44.715, 
41,001, 
86,099, 
87,647, 
23.378, 
27.864, 
87.S41, 
30,916, 



,949 266.947, 
,575|267.642, 
,74l|280,712, 
,807257,981, 
,131 265,408, 
,878!244.12B, 



200.226, 
'M2.483, 
267,938, 
887,924, 
299,288, 
318,010, 
366.773, 
315.083, 
.«3.477, 
3»7,'25, 
356.135, 



Bxeasof 
RecsipU. 



a 

6,879.300 

66,883,653 

100,689,405 

145,643,810 

182.879,444 

104,393,686 

63,463.771 

03.956,589 

103,471,097 

,801 ♦111.341.874 

,978 t87,761,081 

,710 +s5,04O,872 

,906 t26.-«18.643 

,BSO| 9,914.454 

,«54| 4.341.875 

,2«0 <Jf.«9, "08861 

,816df.t2.88S049 

t AUowinK for the premiums paid, the actaal exoejs in 1888 is 1119,812,116: 
In 1889, $105,058,444; In 1890. tl06.34t,496 and in 1891, t37.239.76S. 

It will be observed from the foregoing that while 
Customs receipts in 1894-5 were nearly 21 million 
dollars better than in the year preceding, they were 50 
million dollars less than in 1892-3, and the smallest of 
any other year since 1879. Furthermore, the total 
receipts of all kinds, though 16 millions larger than in 
1893-4, were 72 millions less than in 1892 3, and were 
likewise the smallest of any year, with the one excep- 
tion, since 1879. There is in these facts and the re- 
vival of business activity the strongest of reasons for 
counting confidently upon a very material increase in 
the receipts in the current fiscal year. But that phase of 
the subject we need not discuss here. 



TEE SITUATION IN NORWAY AND 
SWEDEN. 

Of all the kingdoms of Europe the most peaceful, 
the most contented, and the one from which any serious 
trouble to Europe generally was least expected, was 
that of Norway and Sweden. Latterly, however, 
Norway has been the scene of great discontent and 
much political excitement. Partly, however, because 
of the out-of-the-way position of the two States, and 
partly also because they have not in many generations 
been mixed up in any of the European complications, 
the troubled condition of King Oscar's dominions has 
commanded but little attention. When civil war ia 
threatened — and this is really the situation — indiffer- 
ence must give way. We have had numerous reports 
during the last few weeks of quite a serious character. 
Our latest report is to the effect that the King, having 
done everything in his power to conciliate the Nor- 
wegian Eadical leaders, and having failed of his pur- 
pose, has resolved to put an end to the strife, peace- 
fully if possible, if not, then by force. 

Rightly to understand the situation it is necessary 
to have correct notions of the relations which S weden 
and Norway sustain to each other, and both to the 
Crown. These relations are peculiar. There is 
nothing anywhere else in Europe exactly like them. 
Some have found a resemblance between the present 
condition of Sweden and Norway and that of England 
and Ireland. There is really no such resemblance. 
Ireland demands Home Rule. Norway has Home 
Rule. The truth is that Norway so far from offering 
any points of resemblance to Ireland illustrates in a 
very striking manner the dangers of Home Rule. The 
nearest approach to anything like the government of 
Sweden and Norway is the Dual Government of 
Austria- Hungary. Just as there is a Ois-L nthan and 
a Trans-Lsithan Parliament, so is there a Parliament 



JVLT S, 18M. 



THE CHRONICLE. 



9 



atStcckholmaDdaDotherst Ghiistiana. Tnere are two 
Hoasesoi Chambers in each case. The EiecatiTe is in the 
hacJs of the Kiog, who acts ouder the advice of a 
Coancil of State. In .Sweden the Council consists of 
ten member*, at the head of which is the Minister of 
State. In \orwaj it is composed of at least seven 
Conncillors and two Ministers of State. Two of the 
Norwegian Councillors and one of the Ministers form 
a delegation of the Coancil and reside near the King at 
Stockholm. The veto power belongs to the King; bat 
a measure which thrice obtains the sanction of the 
Chambers b< comes law in spite of the veto. Ther« 
has alwayp, and Tery natarallj, been considerable 
jealoasy between the two peoples in regard to public 
appointments; and public offices in Sweden as a rale 
are reserved for Swedes, and in Norway for Nor- 
wegiaos. 

Such in brief oailiae is the Government machinery 
in the dominions of King Oscar. It is not easy to see 
how more could be granted to Norway without imper- 
illing the Union — a anion which has stood the test of 
eighty-one years, and which under the preaent line of 
kings has sc cared for both Norway and Sweden ex- 
ceptional peace and prosperity. Prior to 1814 Norway 
had for some centuries been under the cootrol of Den- 
mark. It had latterly, however, become a mere de- 
{)eiidency;aDd it was deemed advisable by the Powers 
assembled at Vienna to aHjua the affairs of Europe, j 
after the banishment of Napoleon to Elba, to detach 
that State from L><>Dmaik,aod to unite it with Sweden. 
To the union the .Norwegians at flrat offered resistance. 
It WM io vain, however, to resist the will of united Eu- 
rope, acd ucder the ftro, bat wise and hoaane, policy of 
Bernadotte, King by popular choice, the union was 
consolidated, and aider his ton aod grandtoa Sweden 
and Norway have greatly prospered, having largely en- 
joyed immanity from the oarea and tronblee more or 
Ie« common to the nation* of Central, .Sonthem and 
8ootheaatem Europe. But Norway is not now oon- 
tented. It may not ba jast to aay that the Norwe- 
gians as a whole are disooatented. The RadioAl ele- 
ment haa found its way in among them, and theBadical 
leaderr, iireeoncilable tbematives, have obtained a 
dominant influence among the peopU. It does 
not appear that they have any well-gronnded 
cause of complaint agkinat the Ujvernment. 
The principal oanse of complaint, so far as 
the facts are known, is connecte<l with the diplomatic 
and consular service. The Norwegians demaod a sep- 
arate servjro. They demand that Noraray shall have 
at the rliffe rent courts her own ministe rs, and at the 
different consuls r centre* her own coiuuls. The de- 
mand would not be nnreaaooable if the King and his 
advisers, in making appointments to sach offices, dis- 
criminated against Norwegians. But it is not so. 
Not obtainiog what they want the Norwegian S orthing 
or Parliament ref OSes to bear its shareof thediplomatic 
and consular expenses. As a resolt the legislative woi k 
io Norway has been brought to a sUndsttP. Sach has 
been the strain that King Oscar, wh'^ has shown every 
dirposition to conciliate oompttible with the preserva 
tion of the Union, has mora than once been on the 
point of resigning. 

It is not neoessary to enlarge on what seems the un- 
reasonableness, not to say the absurdity, of the position 
assamed by the Norwegiatu. Think of Austria and 
Hungary both sending ambassadors to Washington and 
London or of bo:h having consalates io Liverpool and 
Nsw York ! Think of Bavaris, Saxony and Wortem- 



berg ignoring the Imperial bond, and sending abroad 
each its ambassadors and its own consuls ! Union on 
such terms would be a farce. It is more important to 
know that the King has become tired of making efforts 
and sacrifices to bring about a good understanding 
between his Government and the Norwegian Ridicals. 
It is now confidently affirmed that, having done all 
that he can do to avert dissensions, having gone 
30 far in the suppression of his personal dis- 
likes and his personal desires as to invite 
into his Council men who had personally insulted 
him. King Oscar has made up his mind, if he cannot 
obtain a saitable Ministry, to seize the reins of govern- 
ment, and, dispensing with the services of the Stortb- 
>t>g> give the people evidence that he is prepared to 
govern the coantry for their good, even if force should 
be employed. Such a resolution on the part of the 
King — a constitutional monarch — reveals the gravity 
of the situation. If this extreme course fis followed 
ther* U reason to believe thit Norway will offer armed 
resistance. Ttii will moan civil war. The resulty 
however, cannot be doubtful; for the King has the en- 
tire and nrqualified sympathy of the Swedes, of whom 
thenar* five millions. Tbe population of Norway ia 
under two mf^lionr. 

What gives this difference a wide interest is the pos- 
sible interfen uce of outside Powers. It is quite trae 
that the constitutional arrangements which bind Swe- 
den and Norway together are under tbe sanction of 
the great treaty-making Powers, and that they are in 
duty boned to sustain the compact- But treaties are 
easily gotten lid of when nalioiul or dynastic inter- 
est* MO at stake. It is understood that Kaiser William 
is in thorough sympathy with King Oscar in regard to 
the use of force if the .Norwegians persist in their dia- 
obience. Rumor hts it that he is hUout to visit Swe- 
den, and that he will be the guest of ^he King 
at Stockholm, and of his son. Crown Prince Qna- 
tave. at TuUgarn. Apart from friendship, Russia 
is more interested in tbe future of Sweden and Nor- 
way than is Germany. Tbe United Kicgdom stands 
between her and the North f'lea; and at the present 
moment she is worried a* to how to find something like 
compensation for tto advantsges<rermany has obtained 
through her new oanal. (t is diflioult to see how she 
could obtain any advantage by interfering with 
Sweden. But war brings aboat strange surprises. 
One of the latest saggestions of the Russian pres* ia 
that tbe Kiel Caiul should be made neutral; and 
(iermany ia reminded thatUolstein, through which tho 
canal is cut, wss ceded by the Empress Catharine to 
Penmark as tbe guardian of tho Straits and the com- 
mander of the Baltic. This suggestion is probably of 
no moment, but at the same time it might be wiser if 
Europe would stand sloof and leave King Oscar to 
tiL'tit hi:i battle* with his own people alone. 



I'lirSlCAL CONDITION OF RAILROADS— II. 
Two weeks ago we discussed the reports of the oper- 
ating department of railroad propeities as a test of 
their physical condition; and suggested the importance 
of aeoertaining as far as may be whether sufficient re- 
ptirs and improvement* were being ma<le from year to 
year to keep road and cqaipmtnt in effective condition. 
To- day we wish to give a warning against placing too 
great dependence upon the ratio of operating expenses 
(». «., the proportion they bear to gross earningi*) in the 
effort to determine how thoroughly a property n being 



10 



THE (CHRONICLE. 



[Vol, LXI. 



eared for, aijd thiallj to mention a plan by which we 
hope to afford a better guide in this respect than any 
heretofore in general use by investors. 

The ratio of operating expenses to gross earnings is 
a feature which is widely misused. Many persons in 
their anxiety to assure themselves that the reported net 
earnings are not made at the expense of the property 
give the ratio a significance that it does not posses?. 
If operating expenses are as high as 75 per ceat or over, 
they assume a liberal policy of maintenance, and 
if below fiO per cent imagine a dangerously 
•mall outlay for maintenance. True, these as- 
sumptions may be in many oases correct, but 
uncertain they are always, absolutely false not in- 
frequently. It will help the reader to an appreciation 
of what our plan seeks to accomjjlish if he will allow 
UB to rehearse various facts, although perhaps well 
known to him, that indicate the poor reliance this 
ratio, of which so much is made, really is. 

In the first place we scarcely need say that the rates 
which the roads obtain for their traffic have a most 
essential effect npon the propartion between their oper- 
ating expenses and gross earnings. Certain roads, espeo 
ially bituminous coal roads, get only about five tenths 
of a cent for each ton of freight carried one mile. If, as 
if often<rne, four tenths of a cent or thereabouts mast 
be deducted from this to meet the expenses of operating 
and maintaining the road, the net earnings which remain 
may be but one tenth of a cent for each ton carried a mile, 
the operating expenses being in this case 80 per cent. But 
if on the other hand a company is able to secure one cent 
a ton a mile — a not uncommon rate even now — and if, 
as might well be true in some instances, it costs no 
more to carry the freight and to maintain the road 
than in the first case (i. e., four tenths of a cant a ton 
a mile), the net earnings would be six tenths of a cent 
a ton a mile and the operating expenses only 40 per 
cent. When we add that there are some roads able to 
command far higher rates for traffic — the Sin Fran- 
cisco & Northern Pacific for instance as high as 4"86 
cents a ton a mile — the futility of taking the ratio of 
operating expenses for a proof of good or bid main- 
tenance is at once apparent. A fall in the amounts 
obtained for transportation per unit of freight is alone 
Bofficient to occasion, as in fact it has occasioned again 
and again, a great increase in the ratio of operating ex- 
penses without any corresponding increase in the sums 
■pent for maintenance. At one time, it will be remem- 
bered, the Pennsylvania Railroad had operating ex 
penses of only 45 per cent, but then it averaged over 
three cents a ton a mile on its freight. 

Other causes which often greatly disturb the ratio 
are those which determine the size of the train-loads, 
for other things being equal it costs but little more to 
move 200 tons of freight to the train than it does to move 
100 tons— possibly a few more cars and two or three more 
men to the train, a little more coal and a little more ex- 
pense for wear and tear, but thereby the gross earnings 
are doubled and the average cost per ton is greatly less- 
ened. The number of tons of freight carried per train is 
therefore an important element in the calculation, and 
one that affects wonderfully at times the capacity of a 
road for producing net earnings, and so necessarily 
affects the ratio of operating expenses. 

The freight trains of a company (and to some extent 
the passenger trains also) carry on the average a load 
which is evidently determined by a number of con- 
ditions, among which the following are noteworthy : 
(1) The density of traffic, or the amount of business 



that is done, and the greater or less equality of traffic 
in opposite directions. (2) Tne character of the grades 
to be overcome, especially in the direction of the greatest 
traffic. Short and heavy grades upon which additional 
engines can be used profitably, hence called " pusher 
grades," are- less serious obstacles than a number of 
longer and lower grades, which limit definitely the pos- 
sible traffic per train. (3) The character of the road and 
its equipment; this was made clear last week in the cita- 
tions from the Richmond Terminal reorganiaation plan 
— light rails laid with little or no ballast, frail bridges and 
poor equipment make impossible the doing of a large 
business economically. As wo have already said, all 
our progressive companies have of late years effected 
great economies in operation by using consolidation 
engines, which can move several times as much freight 
as the old type, but these (engines are forbidden to com- 
panies which have not heavy rails, a good road-bed and 
strong bridges. Those in a position to judge siy that 
the economies of the future will be in the way of re- 
ducing curves and grades and so still further increasing 
the train-load possible of realization. A road like the 
Lake Shore that can average 370 tons of freight to a 
train, will, other things being equal, have a decidedly 
lower rate of oparating expanses than a road limited to 
100 or 150 tons per train. 

Finally, to maintain and to operate a road which it 
in bad physical condition, and which it is a constant 
struggle to keep in a condition to do the business offer- 
ing, often means an extraordinarily high rate of op- 
erating, the track and bridges absorbing the profits. 
And if to this is added a lack of equipment of is own, 
so that the road is obliged to resort largely to car 
trusts or to pay mileage rates to aa excessive amount 
to foreign roads— these rates being purposely made 
high to induce the prompt return of cars to the own- 
ers — there may be no net earnings at all. 

All these things unite to render the ratio of operat- 
ing expenses an unreliable test if we wish to know 
with any certainty the manner in which a road is being 
sustained. The Inter-State Commerce Commission 
nevertheless makes much use of this ratio, and in its 
summaries of the ten groups into which it divides the 
railroads of the country it goes one step further and 
calculates the percentage of that part of the operating 
expenses which is represented severally by the expend- 
itures for maintenance of way and structures, for 
maintenance of equipment, for conductitig transport- 
ation, etc. Percentages of such a variable quantity 
may have their place, but to the ordinary mind they 
are bewildering. They are also likely to leave wrong 
impressions, for when we are told by the Oammifsion 
that in 1893 group II. (comprising the States of New 
York, Pennsylvania, New Jersey, Delaware and Mary- 
land) devoted only 17"83 per cent of the operating ex- 
penses to maintenance, contrasting with as high as 23 
per cent in some other groups, we may be excused if 
we overlook the truth of the matter, which is that the 
amount so spent was equivalent to over $1,900 per 
mile in group II., as against $650 to $850 per mile in 
these other groups. 

In practice we need something tangible on which 
to base conclusions regarding the character of a road, 
and the manner in which it is being maintained 
physically. A few companies in their annual reports 
are explicit in this respect, and more will be when the 
public signify their desire for fuller information. The 
Missouri Pacific has recently taken a commendable 
step in giving in its report the data with regard to 



jcLT .law.] 



THE CHRONICLE 



11 



nila and ballaat. The Lake Erie it Western haa gone 
further, and iwued a complete description of its prop- 
erty. A few of the State liailroad GommiesioDS require 
statements as lo road-bed, bridges, etc., and we may 
hope the practice will become geoenil. The protection 
of the inresting public requires that it should. To 
further the moremoLt we have prepared a little table 
intended to gire as clearly as pojsible the phygical 
characteristics of a property and the changes they are 
undergoing. So far as we can secure the facu for this 
table we propose to incorporate them into the ab- 
stracts of railroad reports which we publish from weei 
to week in the Chronk i.e. If meagre at first they 
will be improved as time goes on. 

The table referred to is triren next below. To make 
it clear, we have filled in the facts relating to the Xfw 
York Ontario i, Western — one of the smaller compa- 
nies, but one ftiat has been conspicuously active in im- 
proving its property. Tbe years mentioned are for the 
fiiCal years ending June 30. 



disturbance by the rates received for traffic, and when 
intelligently used it is, within certain limits, a most 
valuable guide, enabling one to make comparisons 
between a road whose management is in question with 
one of established reputation, that is similarly 
situated as regards character of property and class of 
business. Engineers aud practical men have long 
rt cognized its value, but investors generally have not 
awakened to its importance. We shall devote another 
article to its consideration. 



Vwirf tmilm/— 


18M. IMS. 


Mate llM m»d Wtbm 




OWV..I 




319 

jroM. 


319 


w 


ill»- 






nWwa 


.... BT 


... 


*-. 


do 


61 




/lO !(»«.. 


do 


180 


... 


M> It'll., 




41 




BftllMt— 




MUm. 




HWjii«... 




... 3 




Oll'ler.. 




.... M 


... 


fir»»H 




...IM 




M*tur»l 


x^ll. H*. 


...100 




Total It^a'i 


1 IIOM... 


...104 


lOfk 






... U 


A3 


Tikbkl <iiwrA 


t.>l . .. 


..4T7 


477 


Sidioit* 




...100 


M 


flrulf^a. f 


' •ftttt- 






Iror, l,ri.W~ I«.f«9 ia,«M 


Woo.l»ri brklcm 


M07 %jna 


TnaUM. .. 


tt.Tton^sn 



ISM. 
lal 
133 
4.T8S 
l,3M 



18»S 

ISt 

lU 

>.3»0 



rTclcht,Ma,.«M«,.. 
to. ao4«r«artra«u. 

Qmm ranla«a p. B.»«.0.%e S>7,T7A 
Dokpertralaiuila... UlS 1,2S» 

IVikln Iftaito* — 
rrel«bt tr>ln (Iob*). ITO 157 
PlM inio (paM).. 37 41 

MainteiuiBe* A i«B«wal*ot track 

Paeailaaif irtfi aaid 

aad laaaMl (434 B.**! ,1S« f l,0a7 
B«1U laM (too*) p.m. •*• 9 

TIaa lahl (.to i p b.. 74» SOS 
At. par oarapaal eat 

•fMRM.SM'Mto- 

aiaefaUaMa. 947 «S3 



Let the reader notice what a picture of the property 
he has before bim in this table. The rails, originally 
iron u>d later light tteel, are being repiaord by 
new steel weighing 76 pounds to tbe yard, of 
which 3,ld4 tons were laid in 1894-95. Its ballast 
oonsitu chiefly of gravel, but stone is also being 
laid. Tbe bridges are aoatlj iron, the iron bridges 
aggregating 18,907 feet, ■• opposed to 3,007 feet of 
wood, and the wooden bridges are on the decrease, a 
reduction of 400 feet having be«o made in the fiscal 
year 1893-94L The roa<l haa about four miles of trestles, 
but the roadway at those points is being gradually filled 
in,>the trestles being reduced by 550 feet in I893-9i. 
Snoh structures are expeiuive to keep in repair, and 
well-conducted oompaniee nake a point of dispensing 
with them as fast as possible. Any road containing a 
large amonnt, like the St. Tjoais Southwestern, with its 
49 miles of trestles, is necessarily expensive to operate. 

The figures pertaining to rolling stock nncover tbe 
fact that there has been duriog the year no change of 
moment in its amonnt — no increase and no loss through 
failure to replace cars dismantled. Such is the de- 
scription, with its recotd of improvements, made of 
course in part through capital expenditures and in part 
through the application thereto of the earnings of the 
road. 

But it may be a*ked, how about the amount of earn- 
ng applied to " maintenance of way and structures ? " 
i inprovements {have, as we have sten, been carried on, 

rit what proof have we that a proper amount of the 



THE NEW YORK CENTRAL STATEMENT. 
In studying the results of the New York Central for 
tbe fiscal year ending June 30 it should be remembered 
that the last two years have been such as to test the 
staancheat of railroad properties. There 'can be no 
question that the exhibit is disappointirg, but there is 
nothing singular or surprising in that. Many other 
companiea have also presented disappointing exhibits — 
the Chicago k North Western for instance, which like 
the New York Centrsl is well managed and which has 
an eoTiable record of proiperity. The fact is, the con- 
ditions have been unfavorable, and a poor outcome 
could not btf^voided in the face of those conditions. 

Perhaps what makes the exhibit wear an espt cially 
unsatisfactory look in the Central case is that the com- 
pany at the previous quarterly date had reduced its 
iliridend from the basis of 5 per cent pet annum to a 
4 per oent basis, and that there is now a large deficiency 
even after the reduction. But that fact is significant 
cbiefiy in showing that the out in the dividend rate 
waa a wise step. As a matter of fact the company 
paid mora than 4 per cent during the twelve months — 
it paid 4i per cent. Htill the earnings fell over a mil- 
lion dollars short (actually 11,071,200) of meeting this 
4^ par cent. In the previous year, rnhfoh is recog- 
niaed as having been an extraordinarily poor year, there 
waa a deficit of only 1786,340 after paying 5 per cent 
diridf nds. But though the aggregate of the dividends 
in 1894-5 wss \ per oent l(ss than the aggregate in 
the previous year, the sum paid out in dividends 
came within 1249,000 of that paid in 1893-94. The 
explanation is that the amount of the stock has bean 
in or e a aed, so that it now requires a larger sum to pay 
a given dividend. With the total of the dividends 4 
par eank instead of 4^ per cent, the deficit, calculated 
upon tha average amonnt of stock outstanding, would 
have been only $589,000 instead of •1,071,200. 

This matter of the increase in the stock siso has a 
bearing npon tbe future, for it shows that the call for 
dividends at any given rate will be correspondingly 
larger than it has been before. The stock is now just 
100 million dollars, and to pay 4 per cent this requires 
foor million dollars. Tha surplus above charges in the 
lata year, according to the present preliminary return, 
waa 98,368,800. Hence in this very exceptional year 
the property is able to show over 3^ per cent earned on 
tbe fall amount of stock now outstanding. 

That the year was exceptional — that the conditions 
and influecocs generally were unfavorable — is not open 
to doubt. But some persons seem to hnve expected 



newaU has been charged to operating expenses ? better results than in the year preceding in view of tbe 

revival of business sctivity. Instead there has been a 
farther decrease in both gross and not. Oross, which 
in tha previous year had decreased from 140,936,693 to 
•43,678,300, has declined furthtr to •42,5'Jl.OOO, and 
net, after dropping from •14,644,816 to •14,169,794, 
is now down to •13,834,700. Hot if we examine the 



For this we most tarn to the items furnished under 
the heading " special statistics," and among these 
rarticularly to the amonnt per mile spent for main- 
t'nanoe of way and structures. Subject to vari 
ationj though this item is, according to the class of 
road and weight of traffic, it is nevertheless free from 



12 



THE (CHRONICLE. 



I Vol. LXI 



reGulta by <|aarteri. we fiod that the further decline in 
the Ute year, at Isaat in the gross, is due 
entirely to louei in the six months from 
July to December; that in the six months from 
Jannary to Jane the earnings were better than in the 
corresponding period of 1894, and that the iMt quarter 
of the year made on the whole the best showing 
of all. In the September quarter gross earniai^s 
decreased tl, 371,036 and net earnings 1217,693 ; in 
the December quarter gross fell off $509,683, while 
net gained flcOjeSS ; in the March quarter there was 
an increase of $112,964 in gross, with a decrease of 
#436,619 in net ; while in the June quarter gross 
gained as much as $680,613, though the addition to 
net (on acconnt of increased operating expenses) was 
only $148,607. By combining the last two quarters 
we find that fcr the half-year gross earnings have in- 
creased $793,577, while net has diminished $278,012. 
That this is a good showing, all things considered, will 
appear when we say that in the same six months the 
gross of the Like Shore & Michigan Southern, as 
was shown last week, increased only $140,076 and the 
gross of the Michigan Central bnt $31,000. As to the 
Oentral's loss in net in face of the larger gross, it is in 
part to be ascribed to the severe winter weather, which 
ooeasiofied heavy outlays for removing snow and keep- 
teg the lines open. 

But it may be said the Pennsylvania is now showing 
very striking gains; why should not the Central record 
« like degree of improvement? The answer is that the 
Pennsylvania suffered very much heavier losses than 
the Central a year ago, and furthermore that the Cen- 
tral is not in a position to gain from the revival in 
trade to the same extent as the Pennsylvania The 
Pennsylvania is very largely dependent upon the con- 
dition of the iron and steel industries, and upon the 
demand £o coal, of which latter commodity it is the 
largest ca/rier in the country. Both these industries 
were extraordinarily depressed last year ; first by rea- 
•on of the general prostration of business and still 
more by reason of the strike of the bituminous coal 
miners; in the month of May that year the Pennsylvania 
also suffered from the tremendous floods in the State of 
Pennsylvania. The present year the iron and steel 
trades are buoyant beyond all others, while the ship- 
menu of coal are again on a large scale ; and both 
inure to the special advantage of the Pennsylvania, 
jui?t as the reverse conditions a year ago operated to 



pointed out in these columns, the rate situation 
amorg the trunk lines has for a long time been very 
unsatisfactory, and steadily growing worse. Oa the 
grain tonnage especially rates were utterly demorolized. 
How bad the state of things in this particular was, and 
aho the urgency and need felt for a remedy, was 
shown in the calling together of the trnnk>line presi- 
dents last week, and their aotion in deciding to restora 
and maintain rates. 

Altogether, bearing these various considerations in 
mind, it is not surprising thit the Central for the late 
year should not have been able to make more satisfac- 
tory results. The following carries the yearly totals 
of the Central back to 1872. 



FUeal 


OroM i Net 


Interett 


^<t 






SurpitM 


Yean 


Enrninte- ! Enrntnut. 


atui 


PtoM. 


Dividenf. 


or 


« 






i iiental*. 




IpTctt 


t 


DtJUM. 




t 


t 


t 


% 


t 


1S7S.... 


28.5S0,67' 


9,134,239 


1,168,368 


7,971,8711 (8) 


7,844,83i 


+787,089 


187S.... 


39,126.831 


11,484,868 


1,961,806! 


9,683,067 (8) 


7,138,790 


•(-8,886,967 


1874.. . 


Sl.e.M.SST 


13,262,069 


3,518,731 


9,713,855) (S) 


7,13>1,&''5 


t-2,576,470 


\sn.... 


«9,027.2l8j 11.7r«,lI0 


4,483,915 


;.339,195 (8)t 


7,138,679 


+802,516 


IS78.... 


88,046.588 11.92^416 


4,709,340 


7,213,070 (8) 


7,13e.52» 


+73,848 


1877.... 


2«,57S.OS6 11,632.984 


4,689,577 


6,943,347, (8) 


7,14'l,«59 


—197,318 


1878.... 


28.010,556 18,774,578 


4,736,132 


8,033,448 (8) 


7,139,328 


+898,918 


1879... . 


88,3'»«.S'4 12,873,511 


4,679,025' 


7,594.488! (8) 


7,139,528 


+454 ,9 J8 


weo... . 


33,175,913] 15,.Si8,019 


4,756,799| 


10,569,230| (8) 


7,141.513 


-^3.487,707 


1881.... 


88,348,397! 18,883,610 


4,990,783 


7,892,827] (8) 


7,l:i8.343 


+751.484 


1883.... 


30,628,781 11,238.807 


6,488,903j 


5,743,904, (8) 


7,145,513 


-1,401,609 


1883.... 


8S.770,72Sl 13,090,128 


5,692,972} 


7,337,158 (8) 


7,148,132 


+179,0 i4 


1884.... 


88,148,669; 10.899,356 


6,630,598 


4,688,760 (8) 


7,159,641 


-3,490,881 


1885... . 


24,429,441 8,110,069 


6,983,787! 


2,176,342 &%) 


; 3,129,990 


—963,648 


1886.... 


80,506,381; 11,896,984 


7,845,883' 


4,650,099 <4) 


3,577,132 


(-1,072,967 


1887.... 


85,297,056 18,908,432 


7,780,924' 


5,147,608 


(4) 


3,577,132 


+1,570,178 


18S8.... 


36,132.980' 11,506,588 


7,831,463; 


3,675,119 


(4) 


3,577,132 


+97,987 


1889.... 


35,696,836' ll,eSJ,693 


7,868,081 


4,117,682 


(4«) 


4,024.274 


+93,358 


1980.... 


37,008,404, 12,516,273 


7,853,811 


4.662,462 


<.ni> 


4,084,273 


-H638,189 


1891.... 


37,902,116! 12,531,888 


8,831,964 


3,649,899 


(.i) 


3,577,138 


+78,167 


1892... 


45,478,686: 14,339,618 


9,805,8jl 


4,533,631 


(S) 


4,471,418 


-(-68,216 


1893.... 


46,936.A9j| 14,644,816 


10,0«,68), 


4,569,136 


(6) 


4.471,415 


-(-87,771 


1894.... 


43,678,800 14,169,791 


10,387,308! 


3,803,488 


(5) 


4,58 -,886 


-786,310 


I895S.. 


48,691.000' 13,834,700 


10,565.900 


3,888,800 


(4«) 


4,310,000 


-1,071,203 



For 1895, 1894, 1893. 1892, 1891 and 1890 fiscal year covers the 
twelve months ending June 30; for all the years precedlne. the twelve 
inBntn.s endliiR September 30. OperatlDns of the Roms Watertown <t 
OKdenshurg are Included since March 14, 1891. 

tin this .year 10 per oent altogether was paid. As, however, the ■« 
was no increaw in the rale of dividend, the aggregate iistributlou being 
larger simply because of a change in the divUend p irlt)d.i from semi- 
annual to quarter! »-, wo have allowed only for the ordinary 8 per oent 

J In this year the method of chsr^dug dividends was chanjjed, thi 
October, 18S4, dividend of II3 per cent, which under the old arrange- 
ment would have come out of th^ 1834-85 earnings being charged to 
aoouniKlated income, and the next f oi-- quarterly dividend.^, aggregat- 
ing SJa per cent charged to the 1834-85 earnings, thisplan having since 
then been regularly pursued. s = ^o 

§ Partly estimated. 



I 



the 
its detriment 

It is to be borne in mind, too, as regards the revival 
in business, that it is only within the last two months 
that it has reached large proportions. During the 
early months of the year the recuperative process was 
retarded by the critical condition of the United States 
Treasury, and even after the contract with the Syndi- 
cate the uneasy feeling was not altogether removed 
until It was seen how thoroughly and effectively the 
Syndicate was doing ite work. Then the Central like 
the -Western roads, suffered from the contraction in the 
gram tonnage and the other adverse effects resulting 
Irom last season's short cereal crops. AVe showed a 
week ago that the receipts of grain at the Atlantic sea- 

ift^A ru**"" Pf'""* '''"° January 1 to June 22 in 
1896 had been only 52,436,536 bushels, against 63,463,- 

m^^Att^. '\ . ' ^""^''P^^ding period of 1894, 

80,174,272 bushels in 1893 and '"' ' 

1892. 



137,424,198 bushel 



3 in 



Furthermore, what little grain tonnage there was had 
to be earned at very low rate.. As we have repeatedly 



It will be interesting to compare the figures of the 
Central with those of the other trunk lines— ^he Pc^nn- 
sylyania, the E-ie and the Biltimore & Ohio. We 
cannot make up the earnings of these latter for the 
full twelve months, as the returns for June are not yet 
available, but we can give the totals for the eleven 
months to May 31. The comparison is found to 
be unfavorable to the Central. While the latter's 
gross earnings diminished $1,087,133 or 3 '49 par cent, 
those of the Baltimore & Ohio fell off only $148,050 or 
but 0-71 per cent, and those of th? Ponnsylvaaia t»- 
creased $2,450,882 or 4-49 per cent. The Erie sus- 
tained a decrease of $1,062,283 or 4-36 per cent. Ap- 
parently, therefore, the Central fared worse than the 
others with the exception of the Erie. Bat, as already 
said, these other roads all suffered very much heavier 
losses in the previous year. To bring out that fact 
we have added a column in the following table to show 



both the amount and ratio of decrease for each 
roads in this previous year. 



of the 



1894-95. 
name 0/ nod- % 

■".e a ■ ■ • • • •, GroB».8S,897,58o 

(11 Monthe) Net... e,50.>,497 

Balt'more * Ohio. OroM. 20,618,026 
Ul Munthn) Net ... 0,072 121 

''(iTiriX)---'?'?"-"'"-^''-'*' 



Net...lN,I5»,'!t47 

;,Y. Central GroM.42.f91,069 

'"»•"""-■ Net... 13,8 ■4,776 



(18 Months ' 



189.1.94. 


. — Decreaee. — , 


■ — Decmte — . 
prevloiu iieari 




1 P. C. 


$ 


P.O. 


24,369,898 


I,oex>,283 4-36 


3,041,073 


13-7J 


8,999,871 


406,174 8 80 


1,9.17,178 


1-78 


20,786,076 


148,050 0-71 


S,216,«03 


18-41 




223,376 3 68 


184,473 


8-09 


64.676.701 •2,«60.«8i 4-49 


9,678,646 


1606 


18.689,886 


'l,6n4,721 9-4S 


1,080,979 


10-67 


43,678.803 


1,087,133 2-49 


3,2i8,491 


6-94 




885,011 i-3i 


476,081 


3-24 



' Inorease, 

The foregoing makes it very plain why the Central, 
by the face of the returns, has not done as well as the 



L.L. 



JVLT «, 1305. 1 



THE CHRONICLR 



13 



other trank linet. la its cue the oonpariaoa ii with 
leas unf*Torable results for the preceding year ; that is 
to say, ia l»'J3-4, when the gross of the Erie had fallen 
off $3,841,073 or 13-73 per cent, the gross of the Balt- 
imore A Ohio W.iie.ejS or 13-41 par cent, and the 
gross of the PdnasylTAnia (Bistaro line») a* mach as 
•9,673,646 or 15-06 per cent, the Oentral showed a loss 
of only $3,'-}53,491 or 6-94 per cent. To complete the 
aiutlytis and oring oat this fact more strikingly, we 
prvMDt herewith a comparison of the earnings for 
1894-5, with those of 1892-93. 




s P.C. 

tjni^u w:o 

uoia>a U87 

MM^H u-<n 

majM »-»T 

11-14 

«. » »M»i m 

SUMS »'S3 
itaSkacalMal- 

Tbog when the compuison is with two yean ago 
the Central is seen to hare done better rather than 
.worse than the others. It shows #4,345,634 or 9-26 
fm cent decrease in gross for the two years, while the 
groM of the Pennsylvania fell of! t7.-222,763 or 11-24 
per cent ; that of the Baltimore & Ohio 13,364,653 or 
14-03 per cent, aad ttiat of the Erie •4,671,811 or 
16-70 per cent. The heavier losses in these latter 
instances may be ascribe<l chiefly to the fsct that the 
roads are all large coal carriers, and that the indaslrial 
depression greatly diminished the demand for coal, 
while in the Central's case the oo*l tonnaK* forms a 
mnch smaller proportion of the total freight bosioeas. 
In the net the comparison is also quit* ttvorable to the 
Central. That road has loit dnriog the two yeati 
•810,040, or 5-53 per cent. Th« PennsTlraoia has done 
still better, having but •416/258 or 2-24 per cent 
decrwM in net. Bat on th« other hand, the B^lti- 
more A Ohio baa •857,849 foes, or 5*57 per cant, and 
the Hrie •2,301,112 loss, or 25 87 per cent. 



Clearlacs bf rele«rapk.-Ssle« •t tteek*. B4a4a, Ae.— 
Hteek Bxehasfe CIoarla<-lfoise TraaMoloaa.— Tbe cub. 
joined slati ui iBt. sovsfias the elswings for the owmot weak, 
usnaliy appears osi Ike Scst paa» at Ike OmaomoLM. bat 
on aooooal of tke laa(lk of the other fables ts orowdsd oat 
oace a mootk. The flgana are laosived bf tslsfiaiih from 
tke Isadioft eWaa. It waibeobsstvedlt—aaeo wpat ei l witk 
tkeeomspein^weekoliaMtkesatoaalaBwissi iatke ac- 
gragale o< 10 per eeot, tke total In sach yrar eabraclnic 
oolf Ave b wsi a sas dajrs, in o n BS> qa » i ioe ot the Foartk of July 
botiday. So far at the lodirldaal dtlM are oooeemrd !f «w 
York eshibiu an InBtsaaa of W per osbI, aad the gains at 
otlier points ar»: Boslea 804 per osat, St. Loois 17-1 per eeoi, 
aicaico W 9 per cent, tfew Orleans U't per ceot, Phils- 
daipkia 7-8 per osat ao<i Bdtimoc* 4-a per eeal. 



CtSAatMSL 




V#v OrtMBA. 



S>*«a atlM, t Sar* . 
iM^tSar* 



TMU aU «WMi S Sar*— 
IMbI an MMa tar «•••. 



Juit*. 



S8SfllSS1.SSS 

SI.1SS.SS1 

saisoi.sis 



ia.tes.sie 

SwSSMSS 



ses*«s3.Tis 
i4a.oii.sis 



sseT.444.sse 

1TS.1S1..UT 



SMsi^ses 



IJ11S4.SM 

S4.sssiiaa 

1SIS1ASS4 



ses4.4is.su 

uT.too^sse 



S74I.SIS.1SS 
1ST,S4S.S1T 



■fseo 
■»se-s 

+ t^ 
■h ss 
♦so* 

♦in 

411-3 



Pmr FolM 
or Ouontttv 



Shi. 
.▼aL 
aR.baad*.. 

8t«f« bond* 
Baakuoekj 

Total.... 
OoUtm..tU. 
OralB.baah. 

fotalTataa. 



9U)MimtU,lB»&. 



Aetuat 
rahu. 




lsiae7»«M«,i.ai4.«o(ii4u 
ia.MdUK< ' 

ius.*iS.aso^ 



Avw'tf 
PriM. 



tri ) 

■0-0 

lu-o 

lars 

«ei)~ 
sas-M 



Sts MimtiU. ISM. 



Far Vmhm 
wQvanltt* 



SI,4T7.U» 
tStlM<^'S(> 

ii7S.asv6ao 

tS.S.tt.OM 

Koss.ooo 

^MflLlCO 

fS«>i.cs^aso 
i«,saMao 



Actual 
Foiiu. 



S 1506440613 
•UT.88n,T0e 



Prie*. 



Mia,»u.64a 
MtT3ia,a«i 

tW0,Sl&.M8 



tS!7fle3S>7S8 



sr4 

78-4 
IM-S 

17« 



sas-tv 
SlMa. 



The transactions of the Stock Exchange CleariDK-House 
from June S4, down to and iDcludiag Friday, July 5, 
siso the aitgieffates for January to June, iocluiive, in 1805, 
18M aad 1898 are given in tabular form t>elow. 



■rooK azoKUNa ouiAanio nooaa ra^atuonoai. 



istt- 

Ikaaarr- 

AwCl.V. 



— Saorct.SoU tidti . 

Ottmrtd, r»M Volua. 

sasMSM S;«a4.T«a.«M 
siatttta i.;44.«oaii)Oo 



nusouse MSusauMS 
lasMjao CmmlSoo 




Baianem, on* tUU. . Slueli 

Mkan*. Ymttu ihar**. OatK. OltarML 

tia.M(i.ooo a^M^go 
t7s,7oi.oiio a,»agiooo 
is».tai>,ooo a,»(.iM 
isa.ao(xooo «Lasi.ooo 
MLi 101.000 4.sraioo 
•o.aoo,ooo i.7<«.soa 



a.ut 
M»6 



taOOQLOOO 



SilWO,«0S ^041^000 

_._-.--. 4Mao.ooo i.a>«.aoo (.we 

USS.WS susoi^ooe usano s,as4 

MMJoo n.taa.000 utasoo s.ioi 

USLi<w aLMt^ooo uaruoo csss 

LUTJOO •MOO.OOO l.4S4,000 iS» 



OM.Mi.oi'o ia.a<M.avo ia.«7« 



7.»44.rM 44waoo.soo iujoi.000 a8.un 



^JOM^OM lliaCsOO 5k4» 

i^4•Hoaa t.na.«ou 4.440 



uow as,7«aooo 1.481,100 



J a 



V\ 



~ ■ IMal rmlmi, 

. joo se.soo.ooo 

ssoliuo »t.aoo4oo 

40.SOO.OOO 
>0 SS.-MO.OOO 
<o 77.400,000 



. . >4>4n,00O l.MS.«>1 4.431 

Jlmjoo ii4,a«o.o'o i.ft44,«o <un« 

wTi ZsM si«,ooo,ooo a,44<ioo as.7i« 

aUrM 
fata* Saer w . Omah. OUmnd, 

14S.S60 S.S00.000 109300 S30 

••.aoo e.000.000 S9.oi>o sia 

103.400 S,»00.000 TS.MO 314 

00,700 4.SOO.0OO iS.tOO 807 

136.M0 7,700,000 17ll.a00 S85 

roc vft, . 4.S5S.SOO 3ao.soo4>oo Bwiaoo sZsooiooo Mftiaoo i.soi 

»«ISlHlS.Ot>.100 170^000.000 Sa«.400 13.000.000 803.700 1,138 

Jalr I. .3.034.900 137.900.000 900,700 11,000.000 351,700 381 

3.. tfOaSoO e4J»00.000 tQ3.M0 5.700,000 10S.300 310 

■* s i/n3.ooo e7.soo.ooo isi.soo e.soo.aoo 8».oo9 S39 

" « QOLID&T. 

- S.. 593.000 S«.37S.0«M 00,900 3,300,000 93,900 3S5 

riM.*(..4.SI0.)>J aO'l.lTS.OOJ 443.100 24.40J,S0O 4a0,S0O 1,184 
WUMIrTl.S4l.700 99.300,000 149,300 8,400,000 lOT.SOO 1 013 

fba seooka clearsd now are Amerioan Cotton Oil oomm' ■, 
reoamoa, ▲laaiiaaa Tobaooo oocamoa, Atok- 



>ss^ 
-t^sos 



♦ 30 4 
♦S7-S 



Si.i43L*ie.»<s ' seTs.ioi.asa ' ♦aoo 



Aaotber table, oar oaual monthly decailod statement of 
trananrtioos oa tke varioos New York Bsohamces, baa also 
been crowded off of the flrst pmip>. The results for tke lix 
mcMMtM of tke earreot jtmt are, however, given bek>w aad for 
parpoMa of oompariwia tke flgotes for the oorreipoading 
p*ri'^i ,t laMarealeo pteseotod. 



of N. J.. Ckesaaaaka ftOkto, OMbmo BarUagtom 
» laksey. Gkieaap Uaa. Ohfaaao MUwaalMa * St. Paal oasa* 
noo. Okusgo St Sorthweaum oommoo, Chicago Rock laland 
ft ftclAe. Dolawaie & Hudsoo, Delaware Lackawanna tc 
WeslatB. INsdUiag JT Oattle FOadhi*, OeoeraJ Cleouio. Uke 
Skore* Miekiaaa SootkerB. Looisvale ± Naakville, Manhat- 
tan, lOssoari Kansas A Texas preferrwi. llisaoarl Paciflo. New 
YorkOSotial. New 7ork U B. * West.. New York ft New 
Bngtaad, New York Oat. ft West. North. Pao. pref., National 
L«ad ooaainoa, PhiU. ft Bsad.. SoatiiamRy oomoxm and pre- 
farnd Tvaaa ft I>aoiac. Da. Pae., U. 8. Cordage oomoooo 
aM ptelsr i e d , Joito<< "MUn Uiatksr oommon and prefecrad, 
W ab as h oomoion and preferred and Wsatoro Qnioo. 

[Fro* ear own setTsapeadsaLI 

Lomwit. Saturday, June 23, 1600. 

Seldom baa money born so cheap at the end of a half-year 
as it Is In Londoa at present. During this week lix roootlts 
bank billa were disooanted at the rate of 13«. IL^d. per c«at 
per aanum and loans have lieen made for 7 days at 5< per 
oeol. The stock of coin and bullion held by the Bank of 
Bnglaad exceeds W millions sterling, and the reserve exceeds 
39){ millioos sterling, while gold continuee to come in from 
abroad. Bvidenily. ihrrefore, money will remain abundant 
atd olisap for a long time to come. 

Tke silver market is for the time being under the influence 
of the varying rumon ooooeming the Chinese Igan, The 
loaa contract was ligned in St. Petersburg on Tburadsy. ac- 
eocdiag to telegrams from that city, by the repreaentative of 
China, the Ru<*iin F'ioaooe Minister and the reprrsentalivas 
of the French backja. This, buwever, is contradicted on 
good autboiiiy here, and the loan has not yet been 8«no- 
Ueoad by the Bmp* rur of China. It Is known that the Chi- 
nese Govtroment object to many of the cooditioDS, eipcciaily 
to give some securities demanded and also, it is said, to bor- 
row furtlier in Paris. Bat it is itiougbt hardly probable tliat 



14 



THE CHRONICLE. 



[Vou LXL 



the Cbin«e Govern meat will now withdraw from the con- 
trmct, as that wjuld girt> gnre nB«ao» both to Russia and 
Fraace. IVrbaps, therefore, it will recofcnia? the alleged act 
of ita representative at St. Petersburg. Germany, however, 
koaiDKall her influence aftaiott the arrangeooient. In the 
meantime the price of silver id fluctuating between 33^d. and 
aOJ^d. per ounoe, with rather a weak tendency, and the East- 
ern exchange* are all declining. There isstill a good demand 
for India Council bills. On Wednesday, for example, the ap- 
pUoationa were for twice the amount offered : but the price 
obtained was again somewhat lower. Money is becoming 
easier in India. The Bink of Bimbay has lowered its rate to 
6 per cent and the Bank of Bengal maintains its rate also at 
6 per cent. But it ia not thought probable that there will be 
much further decline, as trade is fairly good throughout the 
oeuntry for this seaaon of the year, and as enterprises of all 
Unda, eapeoially railway building, are being pushed forward 
more energetically than for some yeare. 

The Stock Exchange has been very thinly attended all this 
week, owing to the abaence of so many members at the Kiel 
feetivities and at the Ascot races. Indeed there is more holi- 
dmy-making going on just now than for many years so early in 
the eeaaon. The tone of the markets nevertheless has been 
•trong, and the expectation is general that business is about 
to improve in every direction. In the American department, 
however.there has been more inclination this week to sell than 
to buy .chiefly owing to rumors that gold will be withdrawn in 
oonsiderable amounts from the United States Treasury. What 
little basts there is for these rumors your readers of courie 
know. Operators are afraid to make extensive short sales, as 
the support of the market from New York is very good, and 
therefore every now and then the " bears " rush in to buy 
back. The general public is siill holding aloof from the 
market, but it is taking good bonds on a fair scale. 

For the mojient the beat American bankers here are not 
■elling fresh bonds to any extent, but they all report that 
where the bonds are undoubtedly good there is no difficulty 
lo disposing of them, and that indeed the demand is rather 
in excess ef the supply. 

The reports from the South American countries are all fa- 
vorable. The political outlook in Argentina is batter, and 
trade there is undoubtedly improving. There is some im- 
provement likewise in Uruguay. The new Brazilian Govern- 
ment is giving much satisfaction to its friends in London. 
Ajad the Chilian Government is proceeding successfully with 
the resumption of specie payments. On tbe other hand the 
difficulties of Australian reconstructed banks are increasing. 
Four of the hanks have now applied to their depositors for a 
reduction of the iniereet to 33^ per cent, and most of them 
state frankly that if the depositors do not agree nothing will 
be paid. In one case the proposal has been accepted, and it 
ia said that the negotiations in the other cases are going on 
satisfactorily. The Royal Bank of Queensland is offering the 
British depoeitors 4 per cent debentures in place of the 4J>^ 
per cent deposits, the debentures to run for ten years and to 
be redeemable at 103 by 6 months notice at the option of the 
bank. 

Inter Bourse securities are fairly well maintained. There 
has beei' very little activity in Paris this week, chiefly because 
of the uncertainty respecting the Chinese loan. If, however, 
China definitely sanctions the loan nobody doubts that there 
will be a general rise to prepare for the issue', which in that 
cue ia expected to be about the end of next week. But it is 
to be recollected that at the close of June holiday-making 
begins in Paris, and for a couple of months, therefore, the 
attendance on the Bourse there is likely to be very smalL 

In the South African department there is a very hopeful 
feeling. Prices have risen somewhat during the week in spite 
of the abeence of business, owing mainly to renewed buying 
from Paris, and every one is looking for a great extension of 
business before long. The reports from the mines are most 
encouraKing, and the extraordinary cheapness of naoney here, 
and, indeed, all over Europe, makes it reasonably certain that 
speculation will extend in many new directions. 

Owing to the low rates consols rose in the beginning of the 
week to the highest quotation ever yet recorded— lOOf^. It is 
to be borne in mind that in eight years now the interest will 
be reduced to 2}^ p.o. During the last few days, however, 
there has been some decline in the price, but only very slight. 
All other sound securities have likewise risen, and especially 
there has been a great advance in Water Companies' stocks, as 



189.% 
Junr 1». 
£ 
SlrouUtlon 8i,S84.1»0 



it is now believed in the city that the decision of the Pariia- 
mentary Committee will be favorable to the Companies. 

The following return shows the position of the Bank of 
England, the Bank rate of discouit, the price of consols. Sec,, 
compared with the last three yeaia: 

1S94 18B3. 1892. 

June 20 Jwit £1. JtMM 2», 

£ 

21.833.190 2M43.410 gS,838,816 

Public l)«po>IU 8.9S?.»7i 9,809.90* 7,273.»4» 6,785,821 

Hher depoilU S7,«3-:i,270 34,398.267 32,218,778 31.8«,«M 

•oTernnientlsonrttlea 13,931.333 10,705,705 11.208,017 11.265,920 

Mber •eoarttlea 2l,05:t,»44 20.455.885 21,277.218 2«.40».8»1 

aanrra of notea and ooln. 29.M3.3J1 30,815,087 19,911,623 18,378.124 

Ooln & bullion, both departm'U 88.147,831 38,87ij,557 29,604,833 27,667,93 

Prop. re«erTe to liabilities.. P.O. e3 70 7-16 60H 47 11-16 

Bank rate peroenu 2 2 2K 2 

CooaoU. 2K per cent 1067-16 1016-16 9815-16 eeH 

gllrer aoXd. 28 16.16d.' 88d. 40Hia. 

OleaHDK'Houae retnrni 180,7^9,000 131,474,000 1S6,584,«0« 114,282,000 

•June 21. 

The Bank rate of discount and open market rates at the 
chief Continental cities now and for the previous three weeks 
have been as follows : 



Rate! 0/ 
Intereet at 

Piirli 


J^ru 81. 


June 14. 


June 7. 


May 81. 


Bank 
RaU. 

2 

8 

3 

3 

8M 

2M 

4 

6 

6 

8H 


0p»» 
Itarktt 

~Ui 
2H 
2M 
2X 
l>i 
1« 
1 

5)4 
6 


Sank 
BaU 

8 

3 

8 

3 

2M 

iii 

4 

6 

6 


Open 
Marx. 

2 

3 

2« 
lit 

m 
s% 

6« 

6 

3K 


Bank 
Bate. 

2 

3 

8 

3 

2« 

2H 

4 

6 

6 

3« 


0pm 
Market 

IM 

1« 
m 

6 


Bank 
Bat: 

~~2 
8 
8 
8 

8K 
2X 
4 
6 
6 
8W 


Oftn 
Markt 


Berlin 


m 


HamburK 

IhriMHtoit 

AmBterdam ... 

BnisselB 

Vienna 

St. Petersburg. 

Madrid 

Oooenhaeen... 


m 

IH 
IW 
8M 
an 

9 



The rates for money ha^e been as follows : 





1 

2 
2 
8 
2 
2 


Open Market Bate*. 


Interest oUouied 
for deposits ty 


Umdon. 


SankBUU. 


IraOeBUU, 


Joint 
Stock 
Banks 

H 
H 

H 

a 


Disc't Wet 




Three 
ttontht 

'~U~ 
ll-16-« 

H 
»-ie-H 

9-16 


four Six 
Xrnithe Month! 


Three 
Months 


Four 
Months 

~H~ 
IM 

1®1H 

i@m 


Six 
Months 

1M®I)« 


At 
Call. 


Ttoi4 
Days. 


May 21 
■• 81 

June 7 
•• 14 

•• 21 


13-16-M %»l 
M-1316 -a, 

11 16-5i( 13-16-J4 

9^-U-16 «®1 
9-18-5i • 


1 

1 
1 

J<@1 

Mai 


H 
H 


M 
K 
N 

n 



& Abell write as follows under date of 



♦ 11-1B®18-19. 

Messrs, Pixley 
June 20 : 

Qold -There has been sufflolent demand to absorb all arrivals, but 
Dotenoui;h to admit of any advaaceiu price. The Bank h^» received 
J1245,UOO ilurinit the week. Arrivals: Australia, £IS8,000; China, 
£26,000; India, £28,000; South Africa, £7,'),000; Ohlll, * (,000; total, 
£.{'20,000. Sblpments: Calcutta, £7,S00; Bombay, £103,000. 

Silver— With India out of the market, silver has been chiefly sup- 
ported by a number of soeelal orders. The movements have been very 
small, and range between 3(>».gd. on the I4th, and 30%d. to day. Ar- 
rivals: New York, £ io7,000 ; Chill, £27,000; total, £234,0JO. Ship- 
ments: Calcutta, £2,500; Bombay, £122,5'>0. 

Mexlo.n Dollars— A few pare Is have chmged hands during the 
week, and the last price was SO^gd. Arrivals from Xew York, £ 75,000. 

The quotations for bullion are reports i as follows : 



OOLD. 






SILVER. 






^.ondon Standard. 


June 20. 


June 13. 


London Stojidard, 


Jun« 80. 


Jun«18 




f. d. 


t. d. 




<L 


d. 


Bar gold, fine.... 01. 


77 9 


77 9 


Bar silver, fine... oi. 


30« 


30 8-18 


Bariold, parting.oi 


77 9« 


77 9)4 


Bar silver, contain- 






Span, doubloons, oi. 


73 8 


78 8 


ing 5gr8. KOld..oi. 


30M 


30 16-16 


0.8. gold ooln.. ..01. 


76 3« 


76 SW 


Cake silver oi. 


32« 


82 15-16 


Oarman Kold ooln.ui 


76 4M 


78 4)4 


Heztoan dollar«..o>. 


30H 


ton 



The following shows ihe imports of cereal produce into the 
United Kingdom during the first forty-two weeks of the 
season compared with previous seasons : 

IMPOSTS. 



1S94-5 1893-1. 1892-3. 

Imports of wheat.owt.57,703,796 51,402,515 49,065,392 

Barley 21,30B,974 2.1,988,606 13,»06,562 

Oata 12,017.077 10.596,414 10,905,316 

Peas 1,934,599 1,979,506 1,831.213 

Beans 3,63.'>,912 4,259,178 • 3.379.288 

Indian corn 20,680,414 28.604,156 25,611,315 

Flour 15,911,470 15,749,055 16,78t>,896 

Supplies available for consumption (exclusive of 
September 1): 

1894-5. 1893-4. 1892-3. 

Wlieat Imported. cwt.57,703,798 51,402,515 49,065,392 

Imports of flour 14,911,470 15,749,055 16,789,8X6 

Salea of home-grown. 18,28 1,013 18,714,933 22,830,603 



1891-2. 
53,670.99» 
15.122,580 
11,723,330 
2,336,544 
3.292,595 
22,521.677 
16,063,867 

stocks on 

1891-2. 
53.670,995 
16.063,867 
27,0s7,418 



Total 91,936,279 85,866,503 88,635,891 

1894-5. 1893-4. 1892-3. 

Aver, price wheat week.26s. 2d. 23s. lOd. 28s. 7d. 

Average price, season.. 20s. 6d. 25s. 8d. 268. 9d. 

The following shows the quantities of wheat, 
maize afloat to the United Kingdom : 

Tkitweek.. Last week. 1894. 

Wheat qrs. 3,655,000 3,608,000 3,210,000 

Flour, equal to qrs. 272,000 246,000 337. ooo 

MalM qrs. 333,000 S4L,000 603,000 



96,822,280 
1891 2. 
29b. lOd. 
318. 4d. 

flour and 



189S. 

3,465,000 

312,000 

448,000 



JCLV 6, 1885.] 



THE CHRONICLE. 



15 



8a«IUIt Plaaaelal •! •rite(«-Per Oakle. 
The daily closia^ qaotattons for securities, fto.. at Lnnrlon 
are reported by cable as follows for the week endinx July 5: 



BUrer. per os. 



JW. Mon. Tut. Wtd. I Tkurt. . /H. 



3\ p. eu. 



Ffek raa«M da ParlMtr. 

A«ak. TBp.*a.F* 

Caaadtaa PmUc 



30T„ 
107 >« 

I07»i 



■paake* Ohio 

CkW. MUw. * SI. Paol.. 
mfirT""-- *— ' 



30 >« 30>t 30»„ 

ID?"* 107»,« lOTV. 

„ I07i„ 1075,, 107»i. 

Ol<ii>« 0-J17'» 0217«» 107 80 
t»^ 9% 10>« 10 
Ul« > S&>* MH »A«9 

I 33% 2iS 2-J% 

6»<« •••« ; 70>« 69>« 
»8>t , 08>a »»% 99% 



I 



UialilliHAllMhTllte.J 59it 59>« 

MMlaui OsDtral 4* I 68«t M** 

5. T. CeMnl*BodMD:10«H |10«% 



v. Y. L«ke Krl* * Wcat. 

M fwiffflfc 

aartoU * WMt*B, pref 
Mftkara PaoMa. pntl. 

MBaarUaala 

PUlK Raad.. par 

pfir*... 



10^ 
68 >t 



10^ 
69% 



60>« ' 59% 

;zM% i e6>i 

104% 104>« 

11% I 10\ 

09 I 09 



30% 
)07>4 
10T»„ 
103-20 

10 

6»% 

69%" 
99% 



30»„ 
107 V4 
1076,, I 
02-27'* 

10 , 

MT, ' 

23 

«9% 

9t>% 



Chakqxs ly Legal Tenders asd National Bank Notes to 
JCLY 1. — The Comptroller of the Currency has furnished 
I iM the following, showing the amount! of nacioniil bank 
aotea June 1, toi^ether with the amounts outstanding 
July 1, and the increase or decrease during the month; 
alao the changes in legal tenders held for the redemption of 
bank notes up to July 1. 



gmhatuti Bank Vouf— 
AaMWiit oauiaodioK June 1, 189&.. 

Amoant lamel darlnR Juov 

A.Boaatratlr«<I durlug Juoe 



17% 17% 
9% 9*« 



WabMh.»r«r. 



14% 
41% 
18'^ 
SO 



14% 
41% 
19% 

■0% 



17% 17% 

86 5S 

9% 9% 

14% 14% 

43% . 43% 

13% I 13 

tO% i 30% 



59% 
06% 

104% 
10% 
69 



' 39% 

ibi'%" 

i 10% 
69 



Amount outstandln,- Joly 1, 1893* 

Ltftl Ttiultr HoU* ~ 
Aaoant oo di>pa«)t to redeem nattooal bank 

■MeiJuoe 1,1843 

depoaltHl durloc Jane 

tnlaiiedaBd bank notes reared In June 



U% 
9% 



17% 

55% 

»% 

14% 

43% 

IS 

20 



Amount on depoo't to redeem national 
banknote* Jnly 1. l-«9a 



613AS,0l>3i 
l,l&a^23l 



1 081 1.388,029 
313.669 
fSl 1.600,698 



»275,^73 
1,155,423 



936,418,1^1 
879,851 



•39.538.600 



<S«fmtttetrctalaad /yitscellaneoos ^et»B 

NXB AXD BxmDrnntES.— Throuch the 

uj of the Treaaary, ir« are enabled to 

' '— to-day Um dauila of Ooramment 

'4 for tiia month of June. From 

I tha Hcures for prerioa* months, 

1 :(j1«M the •tatomant for tha Sscal 



'UUtnlaUOtt o( Madooal Oold Baok*. not Ineladed In above, $90337 

Aooerding to the abore the amount of legal tenders on 
dapoait July 1 with the Treaaarw of the United Statea to 
radaaoi national bank notes waa $25,639,600. The portion of 
tbia deposit made (1) by banks becoming insolvent, (3) by 
banki going into voluntary liquidation, and (3) by banka 
redadnc or retiring their circulation, was as follows on the 
Om of each of the last five months: 



















18S4.U. 1 1— HC 




Om- 


t-^iSi. 


»^t 




m^. 


nuL 




Mm*. 


ib«%> rw>4 


rnm 


rM« 






• 


1 ( 


• 


• 1 (11 


• 


1 


laiy.. 


aw: 


■JDU Mi 


!.« 


m. i4.ss»| 11 






aas .. 


ti.sa» 


tIJWi •■ 


I^Hl 


41. lojMii tm 






(■at.... 


UJM» 


a.iaa ijm 


•74 


^. 


. I 


*i,mu 


CM.... 


iijat 


•jm \.mt 


Ml 


•>. 


• 


■MIS 


Hot.... 


U.«Si 


T.T.-« tlBI 


un* 


•i.- 




mm* 


Daa.... 


IMM, 


a^oe LMI 


tjm 




.1 


M4M 


Ma... 


itj»» 


a.iiJ UM» 


um 




Kjm 


9m .. 


lusi 


*ami 


•u 


«» 


MMWlj ISNM l>.aw t.tm 


■«• 


•*.«• 


■slat 


uja*! 


*»^ 


•1* 


*M 


fUmr ILMal ««•• 


ijt» 


•n 




Asm... 


iMua 


lUMt 


•m 


tjai 


■MW M«l tMi< 


MW 


».T7» 


t^sas 


Mar... 


lt.4T*< 


ia.ia< 


4M 


*»» 


WMM (Mi iajM7 


lai 


KIM 


**.S8* 


iaae. 


lt.lS» 


\\Ml 


•■ 


un> 


ajafl nw uu*' 


uaa 


a44a 


t7.SIS 




















It SIM. 


I9«.T«»I«1UM> 


^»jm 


»jm 


««js»llituna'i«Mii 


•MM 


ia.i«'n«.Mo 



JalT— 



I 

IS.11 



IT,4U 



'•*• '"- jjrj. IMA I' w*" 



• I t 



isjMoi ia<s* 



I 

tm r: i4.Taa 

7 IS Mjm, tiJHt UJSS 

T» sijmI i4.«aM ia.iai 

■.latl t*> tat»l MM MLMs 
m> i.\bi wsa. k isJmv «i» 
111 i.ita. m^»*f I vum iM.m 



Jas 



iTAi lo.aM, ijim 

ii.ne u.a» tjai 

laaw u.Mi, sa 

IMAM 1M» 



1.15 



SiLM> ' MiaM 
MM| J»j« , ia.is7 «ja* Tj*7 

n.«aB loot iu» 

9jm j ia.i» ttjni 
I.SM4 aMi». i4aH i*^!** , M«> 

ISAn . ts.4j» lAirr 

ijan ti- 



ll'SII 



£51 »— 



4U 



m.mt 

tmt »vx» 

I.I1W ■.«« 

Usn, ti.Mi 

um ai.<c7 

MW «a.»-a 

tw •s.osa 

i.'ias t'.Tss 

ta.es 'STniM 



Ooijiaic irr Unrao cttATM Mina.— fka (ouowum atau 
meot, kindly fomlahad oa br the Olraeaor of the Mint, abows 
tM coteac* at the Miata of the United States dnrtng the moo tb 
of Jane and the six moottaa of 18M. 



Jmim. 



I 




1^0^000 
80.000 



»U VoniA*. 



rates 



7M.7M 15.1(5.090 
SSA.1M 3.353.550 
•76,544! 4.89i,7i0 



•I 



110 



1,750.MO{ 3.009,696 »,3ei,440 

18.000' 863.47o' 803.470 

•M.Ma 3,19 .550 1AW9.378 

306.000 3.949,151 9*7.«88 

10.0001 l,e60.47« 105.047 



440.0a 
48J00 



71.S0O 



1.34) 



8.660.647 

6.617.'>34 
14.SS1,796 



8.1 14.088 

a3o.n&3 

148,3^8 



•Bal 



fa addtttsa W tba abave there was eseKilad at Iba Xlal at Hltll. 
ipbto 82M.0W0 la a« seat pleoss for Caaadwr. 



Oipm U t^w-l March 1. 



tasalv-Dtbka 1.085.148 
UmM'c baa 5,138.095 
MVanade ' 

aatof 1H~« 



'.744.094 



T»Ui 



AprU 1. I ITay I. 



/■UMl. 



Ju/y. 1. 



I.083.03W 1.031.53l| 949.9341 1.017,913 
S.I8t.068| 5.172,3581 5.304,718| 5.160,060 

31.a98.e7s'80,90a.71>' 



JSSl«7.60S.76ll87.094399 



30.303.80019,361,037 
26,418.451 25, 38,600 



* Aai al Juuo Uu. 18:4, and Jul/ 13. 1883. 

BOXM HXLO BT NAnoxAL Baxks.— The following interest- 
if UMaoMnt, fumishMl oy the Comptroller of the Ourrenoy, 
bow albe amount of each class of bonis held against national 
aak ofrettlaikm and to secure public moneys in national bank 
on June 80. 



le 



a. a. 



B^U /mms a 1, 18M. 10 Steim- 



Oaneaay Oe. Paa. BB... 

• parasau. 1894 

4 pw Ola., raadad IM?. 

• » » ssala. 1896 

• psrala..ta»4MlMt. 



aj5S.O00 
bM.000 

ii.Ma.ooo 

8781,000 

i,ota,ooo 



t18.t7>,000 



«anit 



•11.378,000 
13,886,880 

1494«3.10) 
10.4SS.500 
8a.5»iJ ttJ 

•SOl7.680.aof 



To4milU4» 



•13.530.000 
18.431,850 

161.875.100 
ll.OlO.MK) 
33.591.350 

•738.9514.800 



mroKTB AXD Exports roKTSS wcuc— The following are 
the Importa at Ife<r York for the week ending for dry goods 
JbM ti nnd for the week endioii for geoerJ merobaodiae 
Jmm W: alao Cotnla sioae the. h«nliinlm of the firat week in 
Jaooary. 



foaatoa larosrs at nw roac. 



mteWtA. 

Dry Oooda.. 

Oeel Bsi'dlM. 



TMaL 

mmmJmM.1. 
OtyOeoda. 



189a. 



MS1S8 



ta«i. 

• 1.941,439 
9,530.362 



•11.471.701 •10.215,085 



•2.311.853 
8.00J,3l(> 



1804. I 

•008,489 
5,370.477 



1895. 

• 1.973.880 
0.007.008 






•0,I83.9«6 •8.639.398 



861.319.830 873.7a6.3%9 841.653.047 •71.313.574 
3i4.468.306 35t .876. 063' 173.i70.302 1HU,00».S84 

»3a5.786,OI3|8a28.603.83T|w74.923,609lw60.32a.458 



The importa of dry goods for one week later will be found 
in oar report of the dry goods trade. 

Tb » following ia n statement of the azporU (exclusive of 
specie) from the pjit of Now York to foreign p jrts for the 
week ending July 2 and from January 1 to date : 
mwromta raoa saw roaa roa raa waaa. 



nirthevMfe.. 

PfWeMpoftod. 

Vslal3« weeks. 



1893. 



1893. 



I 



1894. 






•7.1X8.417, •7.3.18,4S5 
IUH.a09,.<87 180.153,940 

1204.189.725 •170.H7.504i81s7,392.425 



iau5 

•0,746.316 
100.43 1«,809 

• 173,185,164 



The following table shows the exports and imports of specie 
Uthe Dort of New York for tbe week endtn< June 39 and 
staM January 1, I90S, and for tbe ojrrespondiog periods in 
18M and 1893 : 

azroars aao ikpobts or sraoia at bsw roaa. 



MaporU. 



tmportt. 



Britala. 



Oarmany.... 
Wsa* Indies. 



•onlh Aaerloa 

AUatbsT ooantotos. 

XMal 1894 

Total 1894 

Total 18P3 .... 



"•.200 

'id',do6 
""iisisoo 

3,915,009 



Junes /aa.l, 



ir««A. iMnet Jaa. X 



f 9,000.768 81,102,293 
1.910.40U 



tl.9ie,40V 

!\.773,<i>t« 
7.4149.140 

893',i54 
361,484 

•34.444.243 
67.381.874 
OH.072,476 



9 
3.381 
1.043 
3,060 
1,380 

•1,301,785 

107,712 
602.820 



• 14,780,139 

4,003,988 

1.527.191 

102.980 

3i,204 

21U,500 

ftW.4S0 



131,393,433 
)),54:i,U79 
6.947,478 



16 



THE CHRONICLE. 



|Vol.:LXI» 



Mmt. 



era*ttelt«la 

Fraa (•.... 

Ootid aar 

WmI IndiM 

Mulro 

■oath America 

A otter eosBtilM. 

Tbtoll89S 

Total IxM 

T^tal 1893 



MaparU. 



W-k. 



V747,991 



MnM/M.1, 



$1«,3T2.138 

13.485 

100,406 

3B0 

593.142 

18,317 



ImporU, 



Wfk, BiHeeJan, 1 



•19,440 



The exports from the several seaboard ports for the weeJr 
I aiding June 29, 1895. are shown in the annexed statement: 



»747,991 $17,087,877 
540,303 17,791.7^9 
781.0151 14,669.068 



•19,449 
84,«g4 
89,760 



•49,246 

3,364 

3,R09 

171.603 

304,2»>1 

305,352 

15,555 



•S 53. 1 93 

823.703 

2,100,830 

Of the aboTe imports for the week in 1895 $4,360 were 
American gold coin and 1165 American silver coin. Of. the 
exports during the Hune time $U,'20O were American gold 
coin. 



WhtaU 

ifrrni^— bmh. 

!l*w York 381.11X 

8o«ton UO.SOI 

■\ntland. 

Ptallkdelphia 21.000 

lUltlmore IH.OOO 

New Orleani 15.883 

(lorfoU 

■••wport Nam 

VODtrMl ni.iie 



Com, 

385.504 
147.958 

"itjUi 

I07.7B» 

6M 



Hour, 
bblt. 
83.013 
31.570 

"wHi 

1.170 



OaU. 

bush, 

10,8><6 

240 



Ryt. 
btuli. 



■,aa,aia io.S40 



Peat. 
bMk. 
11.228- 



3».93» 



Total weak... 
tematlma 1804, 



:6S.248 
a62.38J 



173,304 
232,093 



Citr Bailroad Secorltles— Brokers' Quotations. 



Atlas. Ate, B'klTH- 
COB.»«.«., l('Sf..A40 
l»Pt. »isir..l9S4..J4J 

Bleat. 8t.*Fal.P.-8ik. 
let iiiort..7>, 1900. JAJ 

B'way *7th ATew-Btook. 
letiiiott..S>,1904.JAD 
Id Bort..6^1914.JAJ 
B-wiT let,6i.goar 1924 
*d6ii.liit wr«Df).190S 
Coaeol Si. 1943... J AD 

BrooklTD Cllj-8tock ... 
Coneol. e>.1»4'....JAJ 
Bk'Tn.C'roiot'DSa.igoS 
Bkj'n Q'D»('o.A8ab.lsi 

Bklja.C.AM'wt'wn— Btk 
»». 19S9 

Brooklya Traction 

Pre'erred.. 

Ceatral Croaatown— Stk. 
latll..6*,]92-i...MAN 

CeB.Pk.N.<tB.RlT.-8tk 
Cosaol. 7a, 1902...JAO 

Cbrtat'p'r A lOtfrsr.-Htk. 
let mon..l808...AAO 



Bid. Aak.1 



110 



107 
|8S 
2»H 

(no>« 

197 201 

!10« ,108 
108 110 
llOHl 
104 106 
i 112SI12>< 
178 178 
11'2 ,113 
109 I 

iioa 1104 

200 I 

]08H,109 
16 16% 
61<t! 62>a 

185 20O 

}118 I 

I 164 166 I 
«114 >118 
I 150 155 
' 106 '108 I 



31H 

112SI 



Colnmhaa * 9th Ave. 6«. 

D. 1>. K. B. A B«t'jr-8tk. 
I lM,||Old,5s, 1932.JAU 
I Sons 

EUhtb Avenue- Stock... 
I Scrip. 8«^ iB14 

426 A Or. St. Fer Stock 

42d SUA Mu.ABt.N.Av. 
: Utiiiort.6e.1910.MA8; 
j 2dmort.liioome6a.JAJ 

Long lalaod Traction.... 

Lej.Ave.APav.Ferry 6». I 
iMetropolltaD Traction.. . 

NIntI) A venue— Stock. . . 
iSecoad Aveoae— Stock.. 
! letmort.,5s,1808.MAN 
' Debentare6a,190».JAJ 

jbiith Avenae— Htnok 

iThlia Avenoe— Stock... 

lBtmort.,6B, 1937.JAJ1 

.Twenty.Tlilrd St— St'k. 

Deb. Sa, 1803 j 

Union Bt— Stock | 

let 58,1942 

' Weatcbeet'r, let.»n.,Ba. 



Bid. A Ik 



110<^ 

177 

116 



568016 
ei>».351 

The destination of these exports for the week and since 
Sept, 1, 1894, is ab b> low. We add the totals for the corres- 
ponding periods of last year for comparison: 



B9!porta tor Wttk 

taMk and f <nc« JuMi9. 

Sept. 1 to- bblt. 

Onited Kiniidom li7.902 

Oontlnent 28.810 

i. A a America.. 23.393 

Weatlndlea. 18.184 

Srlt. N. A. Col>. 7.4-8 

Hharooontrlea.. 7 



-flour.- 



Since Sept. 

1. 1894. 

bbli. 

7,218 769 

1.1184 .3-12 

1.087.008 

1,030.497 

3<l4.2a2 

32.074 



350 I 



Total 

V0U1U84., 



17.1,304 10.798 952 
2b2.t»3 11.390.789 



Week S(n« Sent. 


, Com , 

Week aince Sent. 


June 29. 


1, 1894. 


June 29. 


1. 1894. 


busA. 


buth. 


61UA. 


Muh. 


^63,370 


se.7ia.094 


447,937 


16.899.395 


94.818 


12.843,331 


266,821 


6.832,895 




20.888 


4iO<8 


16«.6»7 




8.981 


49,890 


488.908 




2,8;o 


too 


116.334 




137,037 




34.648 


658.018 


.39.626,184 


788,216 


23,51.1.211 


Hm.Sbl 


44.037.940 


632,380 


49.U97.367 



The visible supply of grain, comprising the stocks in granary 

•t thf principal points of accumulation at lake and seaboard 

ports, June 29, 1895, was as follows 

Wheat, Com, 

buah. buah. 

.... 4,174,000 617.000 

20.0c 18.000 

18.000 

566,000 



^^Dd acemed mtereet. 



9u Seenrities— Brokers' Quotations. 



SAS OOliPAMIES. 



BraaklTB Sae-Llfbt... 

Oeami 

CJoaaaaere' ( Jereey Oltr). 

Baada 

CltUei a' (Brooklyn) 

Jaraej City A Hoboken.. 

MetioLolttan— Bonda 

MntoaliN. Y 

Haaaaa (Brooklyn) 

Scrip- 

V.y.i BaatRlT. litSe.. 

Preferred. .„ 

Common 

Oeaeol. Be 



132 
150 

87 <t 
100 

66 
186 
108 
172 
220 
100 

92 

65 

soil 

76S 



Ask. 



92 



93 s 
86<i 
32 
77 H 



I 0A8 COMPANIES. 

People's (Brooklyn). ... 

Peoples' (Jersey City)... 

Metropolitan (Brooklyn) 

Wtlliamabarg 

1st 6s „ 

jFnlton Mtinlalpal 

j Bonds, 6s 

Ennltable 

' Bonds. 6s, 1899 

.Standard pref...... ..... 

Commop 

Western Oas 

I Bonds, 6s 



Bid, 

"ii" 

I'iO 
175 
205 
IDS 
175 
106 
194 
106 
105 

66 

61 -i 
i92>t 



Aet 



175 



108 



197 

i07>» 
68 
63 
84 



(And aoaraed Interest. 



Breadataira Plcarea BrouKbt From Pace 36.— The 
•tatrments below are prepared by us from the iigures of the 
New York Pre due e Exehaogr, We firsi give tbt leoeipis a 
Weetern lake and river ports, artanged so as to present tl e 
eomparativf movement for the week ending JuDe29, 18>S, 
•nd since August 1, for each of the last three vears: 



Jlwidf fa al- 


flew. 


Wheat. 


Com. 


Oats. 


Barltv. 




BMs.l9«f5< 


Biuk.60a>i 


Biull.66l5< 


ButhMU, 


Bt«aA.48n 


Okleaao . 


37.049 


62,946 


622,0<3 


1.4e8.8(9 


47,400 


Mllwaakea- 


34S65 


144.6(0 


I'.luO 


173,000 


20,000 


DalBtb. 


46,737 


S 08,998 




13,759 




Minneapolis. 




2S1.110 


17.420 






MkAo.... 


7»7 


9,600 


39,7 


3.000 


2,400 


oamiu... 


2,100 


13,000 


10,8(0 


36.5 5 


1,800 




tas 


9,860 


8,748 


30,001 


1,491 


V.Loala.. 


13,886 


69,920 


86,970 


278,800 





rsorla.. . 


6.860 


2.400 


164,700 


309,900 


3,500 


Kansas aty 




15.890 


7,242 


,. 




Totwk. 95. 


140,111 


tSS7.0«9 


79.'>,f38 


2,337,794 


76,691 


iamewk.-V4. 


296,260 


1.630 977 


2,161.079 


2,087,414 


87.892 


■aaaewk.-»3. 


298,952 


2,191.882 


8,666,324 


3,292.386 


63,076 


Mum Avf. 1. 












UM-96, 


11,274.137 


140,862.915 


76,267.920 


92,4e9,3.'n 


31,194.881 


1886-94. 


12.8h>,297 


145,755,631 


I44.8;5,9(8 


114.206,222 


28,348,830 


I8*k.«a 


12.1»8,ie2 


2.')O.I>»2.424 


119.0P8.61a 


111,303,239 


29,3k(8,528 



Jlta. 



794 



18,914 
:i,l(l8 
27,885 

2,582,897 
3.349.745 
7,1 87,266 



The receipts 01 flour and grain at the seaboard ports for tl e 
week endtd Juce 29, 1895, follow: 



n»ur, Wlitat, 

RtcHpU at- M>la. buth. 

Rev York. 91,749 28,100 

•oeton. 28,766 4L0.K) 

Mootrsal 3(,761 72,ttC9 

PblUdelpbIa njtn 4.624 

BalUmors. 89.242 16;0>1 

Rlcbniond 3,4.10 8,160 

■ewurleana ... ILOas 



291.480 160,791 
892,407 968,849 



Toul week.. 
Weak IMH 



Com, 

buah. 

779.960 
68 945 
14.000 
68.765 

160 341 
2.1' OU 

e<>.G94 

rissiioB 

882..U 



Oata. 

buth. 
643.000 
93.(36 
24 420 
7l.2"0 
54,924 

"8,'472 

89",13l 
69i,M9 



Bartav. 
butK 



4,036 



4.0M 
3.075 



Bv< 
butt . 
6,825 



6.825 
1,120 



^TThe total receipts at ports named in last table from Jan 1 
10 Jane 29 (x>mpare as follows for four years: 



B«c<4pt« »f— 

riour 



bbla. 



■Vbeat bash 



Total aralD.. 



1895. 

7.«21,93l 

15.01I,8(,7 

18,8.sl,4n« 

19,181.583 

1.607.419 

188 568 

54.040,778 



1894. 
10,072.130 

14,l'06,'-64 

SI.86M2I 

l'.a> 1,892 

1,' 7 8,704 

115,083 

66.958.700 



1H98. 
8.1-52.871 

85.841.786 

>6.i68,fti4 

22,2f8,:«l3 

2.820,186 

699,784 

86,599.043 



1^98 
9,162,405 

48.9(I0.2'2 

61.178,332 

S6,71>.8»3 

2,904.118 

2.549.342 

I4I,SoT,C07 



In flora ot— 
Rew.Tork 

Do afloat 

Albany 

tnOaio 930,000 

Oo afloat 

OhIcaKO 17,365,000 

Do afloat 

Milwaukee 267,000 

Do afloat 

Dniatb 8.670,000 

Do afloat 

rolado 301,000 

Detroit 

•aweco 

it. Lonts 

Do afloat.. 
Ineliuuitl.,. 



Oatr, 
buth. 
2,002,000 
100,000 
70,000 
610.000 



4.803.000 2,124,000 



Rye, 
buth. 
13.0(0 



Barley 
butti. 
8,000 



88,000 
■34,()()6 



4,000 



62,000 



13,000 



Boston 142,000 



Poronto. 

ttontreal 

Pblladelpbla 

Paoria 

(ndlanapolls 

Kansas City 



Baltimore 349,000 

tllnneapoUs. 10.987,noo 

St. Pant 

On Hlaaiaaippi BiTer, 

On Lakes. 

On canal and river... 

Total Jnne29. 189.i.J4,58l.0«u 
Total June 22. 1895. 411.225.000 
Total Jane 3(l. 18»».14.'57.0OO 
Total J'>ly 1. 1893.82.317,' 00 
TotHi July 2.1892 24.35«,000 




9,1'65,000 
fl,49«,000 
8.441.000 
8 078,000 
7,841,000 



Auction Sales. — Among other securities the following, not 
regularly dealt in at the Board, were recently sold at auction: 



By Messrs. R. V. Harnett & Co. : 



Shares. 

15 Oermanla Bank 387is 

13 Singer M'l'gOo 215 

10 Colonial Bank 98 



Bonds. 
$4,000 Kalamazoo City and 
Countr Street Ry Co. let 
5e, 1910 $10 



By Messrs, Adrian H, Muller & Son: 



Shares. 

5 Music Hall Co. of N. Y., 

limited. $50 each... $25 lot. 
10 N. Y. Real Est. & Bulld'g 

Imp. Co $10 lot. 

1 Members'p Mecbanlos' « 
Traders' Eiiib.. of N. Y. 

City $llot. 

38 Easle Fire Oo 232 

100 Foriics Fibre Co.. p'f.$100 lot. 

6 Bockland Water Co of 
Rockland, Me. a 50 
each $160 lot. 

65 Nat'l Bank of Commerce 183 

3 N. Y. Life Ins. & Tr. Co .777 

50 Bank of the State of N. Y.112 



Bonds. 
$500 Colonial Club of N. Y. 

2d, 58 «2601ot. 

$500 Uetropolitan Gas L. Co. 

of N. Y. 6s. 1901. l&A ...1127i 
$2,000 City of Brooklya 7a 

Pablic Park Loan, 1917. 

J&( ISSMAint. 

$1,000 Citr of Cincinnati 69, 

1909. P<t\ I2l's&int. 

$2,000 City of anolanatl (is, 

19i 6. M&N ilS^gAlnt. 

$73.0110 Aluminum. Brags it. 

Bronze Co. of Brldxeport. 

Conn., Ist mortxage 

bonds 41 



Sattfeitig and ^itmucial. 



Spencer Trask & Co., 

BANKERS, 

27 4c 29 PINE STREET, - - NEW YOBK. 

65 State Street, Albany, 
INVESTMENT SECURITIES. 



Samuel D. Davis & Co., 

BANKERS, 

no. 40 wall st., new itork. 

Samoel D. Davis. Chas. B. Van Nostband. 



QiOBOi Babci,at MorrAT. 



Alexandeh M. Whiti, Jb 



Moffat &. White, 

BANKERS, 
80 PINB STREET - • NEIV YORK. 

INVESTMENT SECURITIES. 



iwr t, 18M.J 



THE CHRONICLE. 



17 



Jbe gantcrs' ^axette. 



Posted rates of leading bankers are as follows : 



• iriDKNDS. 



/H/y 5. 



! cf Com fan 0. 



OnU. 



When 
FanaN*. 



B»olu elottd . 
iZtai/t iN«<iu«r<.i 



▲•nMMlU WMta * Bait - 

AtUaU A WMt rolal 

taA6aT«aDak. ......•.-•- 

I * P(*Tld'ee «B«r_(tiMr.) 
itM OwUr Rapid* k Kar. 

lot IT. J. (qaar ) 

Taller <qa*r.) 

aui * acbajlklU HaTen.. 

OUOotoar (qoar.) 

FttwteM* Marth Adanu 

rMtUad * R4ieta'«teT 

PwtlaadSae} * Poruaaath.... 
WareBlrar 



rmk KaUoaal 

tfaekaaka' * Trader^' ^ 

ManaTBill (qnar.i ^ 

Wtrt iBaarma**. 

Saiplr«C1tr 

BaaoTar „ 

UalM«0teUo 

ft la-alla ••<•■■. 

CiatlS, H. B.. cum. Iqiar ) 

•• ■* III itrri (•laar.) 

•• •• Sd pref tquar.i. 

yWlaa Maala. Oa*. Bfelya. lq«ar.> 

lfa(jlaa4 Oaal nraf 

MMul Oa^Uckl 

" " Mi'ial 

M mtma Oaa. Broafclya (qoar.l... 

■•w LoadaaMfaai Uj 

■•vTaf«**.J.lApk. (qa r.i 
Vactk CUaaca airaai BK-lqaar.) 

Ilarwtok atfaat Br 

~~ 'il-Pa kBaraaak^Mpf (qr) 
•" cam (qfsar ) 

jBlaaLBB.(Si ■ 

JokaB..Bnr 

>Ha<eaala»uHt:. 



3 

I 

S 

tH 

IH 

m 

2 
4 
1% 

a«« 

s 

3 
3>* 

5 

S 
S 
« 



irmr 
iJnir 
iJair 

l&iut. 

'*n«. 

Joir 
Joir 

Inly 
July 

Joir 
lioir 



J to 

6 to 

1 Jane 20 to Jane 30 , 

I to 

1 Jalr 6 lo Julr 31 
1 lalr 17 to Jnlj 31 

1 to 

15, to 

l' to 

15:jalr 3 to — • 

lii to 

1 to 



Prime backers' sterling blllaon London.. 

Prime rommereUI 

Dooumentarr oommerolal 4 S7^»4 88 

Paria bankers' (franoa) S 16>«*A lS»i« 

Amderdam «ullderal baakera. 40>«*40S|ii 

Prankfort or Brenentmlehniarkii) b'kam* O.M« »0!l«ia 



4 89 94 89V4 90 Vi 90% 
4 88>««4 88>( 



9I4V-S1311i. 
4O^a40T., 
MII6,«*96 



DBit«4 SUtM B«b4b.— Sales of aoTemment bonds at the 
BoBtd include fS7,000 Sb coupon, at 116^, to 116^; M.MO 43, 
ooapon. at llS?j^ to 113 ; |3,0U0 53. roistered, at 1167^, and 
$1,000 4s. reKisicred. 1907, at 113 >^^. The following are the 
closing quotations : 



Ljolr 1 Jane 38 to July 1 

iJnlr 1 Juna 39 to July 1 

July 1 to 

tMT 1 ■ to 




Jalr 
Aa«. 



t«a Joir 
' I lalr 

Joir 
'Joir 

fair 
Jalr 

Joir 
juir 

loir 



3 

1/ 

3^ 

3 

S 

3 

!>• 

S 

3l« 

3>«i 



%tS!r< 



Jlalf 



15 Joir 6 to July 15 
I to 

16 JanaSO to Jul) 19 
lijair 9U' Jaly IS 
10 Job* SO to Jaly 10 

1 "^^^^^ t* ^^^ 

19 to 

19 la 

1ft Jalr ' to Jalr 19 

19 t» 

I 



Sf. .»«....~ .rac. 

4a, 1907 twc. 

4a. 1907 eoa^ 

4a, lOZa rac 

U, 192.5 coup. 

6a. 1904 rac. 

6a, 1904 oonp. 

•a,sar'«y.'98.. ra«. 
•t,SM'ay,"»e...ra«. 
m.tmt'V.'vr -ng. 
•t.tmiyr,]M...rt€. 
•B,a«r>r'M...rac. 
4a.(nbar.il89«.i«it. 
4s.(Cber.)lW7.r««. 
4a.(Char.)l<M.ra«. 
4a.iCfcar.)lW>.rac. 




jHHt JtUn Jutw July JTulg 

39. 1. 2. 3. 4. 



97 
113 
113>« 
•133 4| 
18S% 
116>« 
116H 
100 
iOl 
103 
10 » 
10' 
100^ 
lOOV 
lt)<)V 
100% 



• 97 • 97 
•113 -lis*! 
X 13%-ll'.>>« 
•I23\,-123V 
•123H'^123H 
■116>« ■116>« 
•I16>a| 116% 

•100 hioo 
I'loi rioi 

•103 •103 

•los riiis 

•108 riO;' 
100% •101% 

ioo\ •loov 

100% -100% 
10 >% -100% 



97 

112 

112>1 

123% 

121% 

ua^ 

116t« 

100 

101 

10} 

109 

los 

•|0J%. 

•100% 

•lUO% 

•100% 






• 97 
•113 

113 
•123% 
•123% 
*ll6>a 

116% 
•100 
•101 
•103 
•109 
•108 
•100% 

■ioa% 

'100% 
•100% 



la 



* Tkl* U the priea kid at tke momlac board, no >aJ< waa mads. 

Db1«*4 StBtM Sak-TraaMrr.— The following Ubla show • 
itoeipti utt payiiMnta at tiM Sab-Tr«Mttrr. 



19 Jalr 11 M ioir 14 



WALL MTKaKT. FKIDA V. Jl'LY ^ ISM.-S P. H. 

Vk« Honey Market aa4 Pioaacial SltasttoB.— The na- 
ttonat holiday and tha first of JaW sattlamenta bBre had th*>ir 
ombI effaot npoa bnalBeM in wall Stnat, which has Uvo 
liBi>l«d ia Tolmae and iargialy of • prnfassional oharaetcr dar* 

WMk. 

ia, bowarar, a steady bat awdarate ilaaaail (or in- 
I* saBormsB. SBpartaWy for tboM ikalt la ia Borope. 
wfaioh n6ae(aa fOfaixB watiaaat In faror of AaMrioaas. It 
la rsBOfftad that aaot£ar blook oT tba Sontharn Railway bonds 
baa Bam aacoCiatad afacoad. 

Tba pro B o ssd plan for raocgaaiaiaf tba Vortkarn PaciBo 
SaOroad Compaay. aa aaaoaaead by tba Adaaas CoomittM, 
has in«t with a asriom obstaola to tta progtaaa fat tba 8UU 
lawsof MJBBsaota; but trbatber tfait oaa ba ovacooaia or will 

ir. 
I flrm, 
iprtcaaattbacibaaaiat— afHyat tba h%haat point of 
the week. 

In tba taotmr niatkat lalaa bara flaetaatad aoinswhat 
oadar tba Jaly iat dlsbarsamaata aad dataaad. 

Tba opaa aiarfcat ratas for oall loaaa dariag tba week on 
ato<A and bood coOalarak ba*a faBfid fIroaB 1 to i i< per 
oaot. To-d^aialBeoaeall wan 1 to t par eant. Prime 
aaiBiaarcial paper li qaaled at IV to t par oaaL 

Tta* Hank of B^Mad assaiy staiamaat oa Tbaradsy 
abswad a dacnaas ia ballioa of £M,9n, aad tba paroenume 
of Nsarve to llabUitlaa was 99 47, aaaiaat tl-» last wcok; Uie 
dkooant rat* remalaa wnahaimad at Spar eaat. Tb* Baak of 
Vtaaea shows a diB»saaa of S,tM,OOQ frmnoa in gold and 
M9B.000 ftaaes tai sUvar. 

Tba N^w York Ctty Oaarinc-HoaM baaka ia tbait statammi t 
af June Itabowad a inraMu ■ Ika fii baU of t».9H 
000 sad a aotplaa ovar tba raqoiTCd laaarra ti |M.<».»-.:'> 
aaainat IM..<M4.250 tb« prariooa 



iS&' 



$ 

1.7S3.9B0 
3.«17,ia0 
S.3«l,98l 
8.7S6,Sa9 



0»in (Mrt**.! Owiawn. 



• • i 

2.374.408 10t.»47.9>« 



4.4a8,4BS 



l04,4a«,B«* 
ia4384.6M 

ia4,aoa,64o 

...Bolldiyr ■ 

4.88«,19I 104.S354S7 



3,3IS,atl 
9.>«90,4«7 
7Jt3.3W 



•Mall 19,114.0711 38.034,0071 ....^. 



• I 

809.«0« 
•0«.16«i 
73«,889 
888,043 



67.074.488 
67.488,»«2 

ea,4»o.e82 

69,137,415 



871,843 69,196,699 



laaalt ia tba abaadoamaat of tba plaa doaa aol jat apaaa 

Tba naarkat to-day fbr botb boa* aad aioehB&Bbaea a 

aadprlcaaattbaeiaaaaiaiaMnllral tba bichaat point 



Gala&— Following aia earraat qootatJooa in gold for eoins: 

.94 90 •#4*9 Plaa oIlTar bant... —67 • — 68 

.8 90 a 8 99 PiTofraaoa -90 • — 99 

4 TH •4 86 Maitosa dallara. -58 • — 94 

4 M • 4 8« Do aaeaoi'aial . • 

SBaa.OaaUoaaa.l6 90 •16 76 Parurlaa aoU..... -49 •-63 

llairPaakliaM.16 90 alS 76 BodUh ailrer *.. 4 89 •4 83 

Plaa (Old ban. . par*i«pr«m. 0. 8. trade dollirt - 95 •-75 

8Uta aad Rallraad Baa«a.-SalaB of SUt« bonda at tba 




Board inoluOe tI3,A00 Virginia fund, debt i-a» of 1991 at 61 W 
to nji : •SB.OOu Teun. srtUement Us at 89 to 90U : $6,000 
Abtbama Cbtas A at lO-*, and $4.S00 Virginia 6a, daf'd truat 




s a 

6a.938.700 4O.423.7P0 

: 7I.8O4.400 7l,5»i.'<00 

aias^tt. 6I8.4B3.S0O Isa. 9I8.S0C 4TO.0 tt.l0O4U.»->u.40O 
.' l8,l69X>aODaa. 86.000 9.nM8,0*O 9,tll0.4OO 
. 670.4*6.800 D«ab4.0S3,7o<> •■- ' . <" *00 8»7.MT».lOO 
. 66,331, «00 t>ae. •48,9'^'' tOO flV.'itH, lOO 

.^111,603,600 DeflL3.aaO.lo 4W 37.7'i-<.:uU 

. 176,486.000 Da«J,884.aoo 21 m.KIT.MO 100,746.500 
■ 14 3,600.076 Daa.l/>a»479, l43.334.490j 9»,49i.779 

toipiaawaarra »4,8a6,»a8 Daa.8Jl»]i5' 743eBii6o'~25l .725 

to aota in the 
[all but firm, with 



apwia. 

Local ttadati. 



,_ ia ao 

) markot. which baa bean 



FareicB Bxehaata.— Tbara 
foreiga aiobaaga market, whi 
rataa at tha higbaat point of the 

ToKiay aotaal lataaof aBOtaaafewaraaafoUowa: Bankers' 

^ ^IRJ^'*' * "^•* ^ ^"""^^ * »><•« »X : oa- 

Tb* foUowtag wan tba rataa of Joasatlu axcbaage on New 

Tork at tba aaider-aBaatloasd dHas lo-dar : Sarannah, buying 

1*10 praoiiam : Cbaneaton, buyiDK par, 

. Haw Oriians, bank, $1 30 premium, 

. praaaiam; Cbioago, eOo, par $1,000 pra- 

■iaaiS St. LoidB, Tte. par $1,000 pramiom. 



Tork at tba aader-aaai 
par, saOlBc 1<«M( 
•ailingU prtiaiaa: 
aoaiBMrafkl $Oo> praa 



raoeipta, stamped, at 6 

The market for railroad bond* has been dull but prioaa are 
mtarmlly well savtainad Amonx the most native arc Sav, & 
Waatarn Iat recta . which have further advanced nearly 8 
paiata 8oatb«rn Ky. 1st 8s have been in demand, and it ia 
laportad that tba oooapaay iiaa nesotiated a large blook of 
tba bonds abroad. Soma of the No. Padflc iasuaa bare da- 
oliaed, as it ia announced that there are oba t a d aa in tlia way 
of proorsss of tb* Adams Goamitt<«'« ulan for reorganiza- 
tioB. Othar iaauaa more or lea c< ' during tha week 

iaelada tha Atobisons, Chas. * 01. I'oc, Mo. Kan. & 

fx., Mob, * Ohio, No. Pac., I'hila. & Uaading, Rio Or. 
Waatam. Tex. Pao. and Wabash bonJiv 

Railroad and Mlaeallaaeoas Stoeki,— The stock market 
with a few exoepUona has been dull and nnintereating. The 
railroad liat baa bean reiativaly atrong on a continued favor- 
ablk crop oatlook aad aoiaa buying for tha foraigrn aocount, 
Ifforta to denreaa tha grangers in sympathy with the decline 
of induatriau bare not ba«n suooessful. A moveiuent is be- 
Uarad to be in aoat«mplatioo which will put the coal buaineaa 
Oil a better payinK basis, in view of which some of the leading 
ooal stocks hara advanoad orer 1 point. Actirity in aeveral 
Soutbwaatam aharaa baa continued and Mo. Kan. & Tex. 
oommoa and prafarrad and Mo. Pao. are fractionally higher 
than last weak. Soatham Ry. preferred shares have ad- 
vanced over % pointa and Bouthom Ky. common and Louis- 
Tilla ft Nashrilla are also higher. New York ft N. E. reflects 
the batter conditions which the future has in store for it and 
ha» adTBnoad 3 points. 

Tha apeoalative element has baao ohieflr intereated in the 
indoatrial liat. Am. Sui^r aold down to lO.'S on Monday but 
baa laoovarad, doting at 11 Pi. Chicago Gas has declined 

' 4 points oa farther li>]uidation of its shares. Col. Fuel 
ft Iron has been a prominent feature on the fundmg of its 
floating debt and K4lna<l over 6 point*. Am. Tobatxso has 
flaottuUed widely under rarioai intluanoes, favorable and 
otharwiaa, aalliOK at 107W on Monday and doaing at 118li 

' againat llS^f last week. Distilling has been active and steady. 
Gen. Electric lias gained about a point. V. ». Rubber has 
ratcained over 3 poinln of the Ioma resultinfc from the bear 

' raid of a week ago. U. S. Leather shares are again in favor 
ard both the common and prefarrad are higher than last weak. 



18 



THE CHRONICLE. 



[Vol. LXI. 



NEW TOBK STOCK KXOHANOB— ^OTTFf STOCKS for week ending JULY S, and ttnee JAN. 1, 1805. 



HIOBSBT AND LOWEST FBICIK& 



tetnmUj, 
Juoo 'M. 



63 U 
•5SN B4% 



Monday, 
July 1. 



9H »« 

•SI e« 



iou% i<ni«i looTg 100% 

•19 JO I xl8l« IS^i 

ai% 2i\; 21H 3--:>« 
•163 Mas 

83^ SAS'' f^*» 9*'^ 
I M>« MH 

09 99 
"(ii-'t '«8"il «7<t 68% 
•131 13!2«>*131 IS2 

98 KOIil 98 99H 

'144>4 143>4l^l44>« 14S>s 

71% 71'8 71i« 73'e 

89«« 39>| 39 89ii 

- --- .117 iin 

45H 46 
•OS 99 
84% SB 

•82 - 65 
129 >4 ISO 
163 14 I6314 
14:11 14% 
47>4 47% 
-40 45 
133% 186 
•86 97 

9^8 »■>» 
•32% 84 
23% 34% 
•82% 84 
150 150 
•85 88 
11 12 
S7% 58% 
8 8% 

26 26 I 
113li 113%I 112% 113%! 
•108 lOH ! 102%10-i% 
31% 21% 20% 21 



•117 


118 


•45 


46% 


•92 


98 


S5% 


26% 


•62 


69 


•ll'lt 


130% 


163% lt>3% 


•14% 


ir.% 


46% 


4mi 


•40 


45 


•133% 136 


•96 


97 


•9% 


10 


•32% 


34 


24% 


24% 


'83% 


84% 


ISO 


ISO 


•89 


88 


11 


11% 


68 


S8% 


•8 


2« 


.?«!• 



TdmkUt, 
July 3. 



9% 9% 
1% 1% 
61% 63 

•54 65 

55% 65% 
101 101 's 

18% IHH 

22% 32% 
156 15H 

84 85% 

■98% '98% 

67% 68% 

123 122% 

97% 99% 

145 >4 145% 

71 72% 



WedBMdKy, 
July 3. 



9% 

•1% 
62% 
•83 

55% 
10114 
•18% 

22% 
ISU 

84 



9% 

1% 
62% 

54% 
55% 
101% 
10% 
22% 

"ai^t 



67% 68 

122 122''( 

97 Tg 98 '8 

144% 144% 

70% 71% 

39% 40%l ^40% 40% 



117% 119 
46% 46% 

•92 95 
86 26 

*62 66 
130% 130% 



110 110 
46% 46% 

•02 94 
25 36 

•62 66 

13U% 130% 



l«3%lG2%xl61%161% 
•14% 15% -14% 15% 
47% 47% "47% 47% 
•40 45 I MO 44 



•133% 1S6 

97 97%l 
10 10 \ 
33% 83% 

24% 24''8 
*83% 84%l 



130 134 
97% 97% 
10 10 



•83 
•24 

84 



34 

24% 

84% 



16G%lt0%, ISO 150 
'86 87%{ 84% 84% 



10 11 

57% 69 ' 
8% 8% 



10 10% 

67''e 68% 
8% 9 



87 87 

•46% 47% 

ir% 17% 

36% 36% 

30% 31% 

'24 25 



Z83 83 

47 47% 

18% 18% 

8(i% 37% 



100% 101 
•16 17% 
•73 73 
•3OI0 32% 
9'e 9% 

•32 

46% 47% 



30 
'24 



31% 
25% 
90 



101 101 

16 16% 

72 

30% 30% 

10 10% 
•22 

46% 49% 

;j*212 216 

17% 17% 17% 18% 
10% 10% 10% 10% 
29% 29>t| 28% 29% 
•3% 3% '3% 3%| 

13% 14% 
4% 4% 

16% 16% 



26 26% 25% 26% 
112% 113%! 113% 113% 
103 103 *102 103 

21% 21% 21% 21% 



84% 84% 

•47% 49 

18% 18% 

36% 37i>8 

31% 32% 

•24% 25 

•08 90 
100% 101 

16% 16% 

•72 73 

'31 31% 

10% 10^8 

'22% 

48% 60% 



17% 18% 
10% 10% 
29% 80% 



4% 4% 

10% 16% 

♦37 ■ "so 
•6% 7% 
•5% 6% 
18 18% 

•19 20% 

•50 52 
31% 31% 

•17 18% 
•114 115 

•61 65 
'7% 7% 
16% 16% 

•29 31 

•90 91 % 
•116% 117 



.4% 


24%! 
14% 


40% 


40% 


13% 


13 


•3 


3 


•47 


40 


♦79% 


81 


•13% 


18% 


•6 


6 


8% 


8% 


19% 


19% 


17 


>7% 


62% 


63% 


'6% 


« 



i 37% 37% 
I '74% 75% 
106% 109 
I 99% 89% 
110 112% 
alio 115 
60 64% 
143% 143 
19% 20% 
85% 35%i 



8S 


33% 


89 


89% 


6% 


5H 


•11% 


la 


28% 


29% 


140 


»•.*. 



•171 174 
•66% 67% 
89 40% 



•27 80 
6% 6% 
5% 5% 
17% 18% 
19% 19% 
'51 52 
81 31 
•17 18% 
114 116 
61 61 
•7% 7% 
16% 16% 
•29 31 
'90 91% 
115% 117 
24 24% 
14 14% 
40% 41% 
13 13% 
•2 8 

•47 49 
'79% 81 
13 13 
-6 6 

'8% 9 
19 19ii8 
16% 17% 
62% 541^ 
6% 5% 

38% 38%| 

74% 74% 
105 109 

99 99% 
107% 110% 
1>0 115 

68% 02% 
144% 144% 

19% 2m% 

35% 30% 

33% 35 



14 14 
4% 4% 

17% 17% 



'37 30 

6% 6% 

6% 5% 

18% 19% 

19% 19% 



41 

3t 
•17 
114 

62 
7% 



52% 
81 

18 



62 
7% 



90 
6% 



90 
6% 



•1% 1% 

•2% 3% 

17% 18% 

83 93% 

i3% 39% 

91 91% 



13% 12% 
37% 29% 

180 .... 

171 171 
67 67 
37% 39% 



1% 1% 
•2 3% 

17% 18-fl 



16% 17% 
•29 81 
'89 91 
115% 117 
24% 24% 
14% 14% 
41% 42% 
13% 13% 
'2 2% 

•47 49 
'7!»% 81 
•12% 13% 
'5 6 
9 9 
19% 20% 
17 17% 
54 64^8 
6% 67el 

27% 28 I 

74% 74%I 

lot's 111 I 

ICO 100%j 

108% 112% 

111 115 

62 63% 

144 146 

20% 20% 

86% 37% 

34% 35% 



'84 85 
'47% 49 
18% 18% 
36% 37% 
31% 31% 
24% 24% 
'68 90 
100% 101% 
'16 17 
■72 73 
•31 31% 
103e 10% 

•22% 

49% 61 

312% 212% 

•17% 18 

'10% 10% 

29% 29% 

3% 3% 

"*4% 4% 

17% 1738 



80 

6% 
•12% 



90 

5% 
13% 



29% 29% 

160 151% 

171 174 

67% 67% 

30 40% 



1% 1% 
208 3% 
18% 10>4 



93 Hi 93%; 94 94% 
39 40% 39% 41 
9U% 91>4l 91% 82 



'27 30 
*6% 8 
'6% 8% 

18% IB's 

-19 20 

•50 52% 

'30 32 

'17 18% 

114% 115% 

61 61 

7% 7% 

17 17% 

'29 31 

•89 91 

115% 116% 

24% 25 

14% 14% 

42 42°8 

13 13 

♦2 3 

'47 49 

'79% 81 

'12% 13 

■5 6 

'8% 8% 

19% 19% 

17 17>2 

'53% 64%' 

•6% 6 

28% 28%[ 
'74% 78 
108% 110%' 

99'e 90% 
111% lis 
112 116 

60% 62% 
'148 145 

20% ai% 

36 36% 

34% 84% 

90% 90% 

6% 5% 

'12% 13% 
29% 29% 

154 

■171 174 

•67 67% 
89% 89% 



*1% 1% 

3% 2% 

19 19% 

93% 93% 

40% 41S8 

91% 91% 



Tband»y, 
July 4. 



n 
o 
f 

5 



Fiidar. 
July ft. 



STOCKa 



Sales of 

ttae 
We«k, 
Shares. 



Active RR. Stocks. 

9% 9% At. Top. A 8. Fe,l8t Iniital.pd 

•1% l%| Atlantic A PaclUo 

•62% 61 Baltimore A Ohio 

54% 64% Canadian Paolflc 

xS3% 54% Canada Southern.... 

101% 102% Central of Nhw Jersey 

•18% I914 Central racltlo 

22% 22% (HiPHapeake A Ohio 

156 169<-j Chlcano 4 Alton 

34% 85% tlilcaKO Burllnjfton A Qulnoy 

.— iCblcaKO Jk Eastern Illinois.. 

I Do Dref. 

67% 68%{0h]caK0HUwankeeA8t.Paul 
133^8 123% Do pref. 

98% 99% Chicago & Northwestern 

144% 147 Do pref. 

70% 72«8'ChlcaKO Book Island A Paoltic 

40% 4o''8 ClilcaKO et PatU Minn, at Om. 
■117% 119% Do pref 

46% 46%!Cleve. anoln. Chlo. * St. L. . 
*98 95 Do pref. 

26% 26% Oolnmbns Booking Val. n. Tol 
'63 66 Do pref. 

131 131 [Delaware <b Hudson 

'161% 161% Delaware Laokawanna<& West 
•14°8 15% Denver & Klo Qrande 

47% 47% 
•40 44 
130 130 

97% 

10 



Do pref 
EvansTllle A Terre B aute. . . 
Great Northern, pref , 

97% Illinois Central , 

10 % I Iowa Central 



Range for year 1895. 



Lowest. 



9,046 8% Jan. 30 Ul% June 17 

100 ij Feb. 27 2 May 18 

905 49 Mar. 8 65% Jan. 18 

200 33 Mar. 8 59 Jan. 3 

2,204 48 Jan. 30 56% June 18 

6,47X| 81% Feb. 18 IO214 May 18 

270 12% Feb. 6 20% May 13 

5,575 1 16 Jan. 29 23% May 11 

86 147 Jan. 9 159% June 22 

39,580 09 Mar. 4 86%J\.nel7 

2001 50 Jan. 12 57 May 8 

1701 90 Jan. 31 102 May 27 

76,320 sS'eMar. 9 «!>% Jiilc 17 

565 ii4%Mar. 29 123%Jimel7 

21,808 87»8Mar. 4 100% June 25 

20I137 Feb. 14^145 Jan. 26 

24,052| 60% Jan. 3 73% June 17 



Highest. 



3,200; as^vi Mar. 8 

5011,04 Mar. 30 

2,6631 35% Feb. 13 

82 Jan. 10 

3,900 16 Jan. 29 

55 Jan. 9 

l,C41|l23 Mar. 
403 155% Mar. 8 
150l 10%Jai. 29 



819 



♦33 36 Do pref. 

24% 24% Lake Erie* Western ........ 

'82% 84% Do pref 

11147 149% Lake Shore <fc Mloh. Southern 

*88 87% Long Island 

10% lu% l^ug Jfrlaud Traction 

58% 59%Loul8VUle<b NashTlll? 

8% 9 LonlBT. New Alb. A Chicago 

26% 26% Do prof. 

113 113 Manhattan Elevated, oonsol. 

100% Michigan Central 

'21 22 MinncHimlis Ai St. Louis 

84% 84% Do 1st pref. 

Do 'Jd pref. 



48 



18% 



37% 
33 

25 
90 



48 

18% 

36% 

31% 
•24 
•68 
"loo's 101% 

IS's IS'e 
•72 73 

31% 31% 

10% 10% 
•21 

49I>8 50% 
211 211 

17% 18 



Missouri Kansas A Texas. 



100 
1,120 

465 
50 

700 

3001 69 
1,51)7 
8 
7,981 
8,305 
1,606 

900 
1,402 

iOO 

884 
1,118 

500 
5,835 
11,590 
10,080 

125 



'10% 
29% 
•3% 

'13% 

4% 

17% 



*27 
*6% 
•5% 

18% 
•19 
•51 
'30 
•17 
114% 
*60 
7I2 

17% 
'29 
*89 
'115% 117 

24% 24''6 

14% ■ - 

42% 

13 

'2 
'47 
'79% 

13 



30 

8 

5% 
19% 
20 
52% 
32 
18% 

62 

7'8 
17% 
31 
91 



pref 



•5 
*8% 

1978 

17% 
53% 

•808 



14% 
42% 
13% 

2% 
49 
81 
13 

6 

9% 
20 
17% 
53% 

6 



1,813 
360 
160 
200 

2,285 

12,644 

18 

2,573 

1,630 

5,330 

100 

100 

2,680 

2,727 



74% 



♦27 

74% 
109% 112% 
100% 100% 
112%113'8 
113 115% 

59% 61% 
143% 143% 

21% 22^4 



Do pref. 

Missouri Pacific 

Mobile* Ohio 11" 

Nashv. ChattanoogaAStLouis 
New York Central * Hudson 
New York Chicago * St. Louie 
Do Istpref. 

Do 2d pref. 

New York Lake Erie * West'n 
Do pref. 

N.Y.&N.E.,tr. rec8.aUln8.pd 
New York New Baven*Bart. 
New York Ontario * Western 
10% New York Susq. di West. ,new 
29% Do pref' 

S"*! Norfolk <St Western 

14 Do 

4% Northern Pacific. 
17% Do prei; 

Ohio Southern 

Oregon B'y * Navigation Co 
Oregon 8h. Line A Utah North 
Peoria Decatur * EvansvUle 
Philadelphia* Beading... 
f Itteburg Clnn. Chlo. * St. L 
Do pref. 

Pittsburg * Western, pref 

Klo Grande Western 

Rome Watertown & Ogdensb. 
St. Louis Alt. * Terre Haute. 

St. Louis Southwestern 

Do pref. 

St.Panl*Dulatb 

Do 
St. Paul Minn. * Manltoi 

Southern Pacific Co 

Southern voting trust, oertlf. 
Do., pref. voting trust, oert 

Texas * Pacific 

Toledo Ann Arbor * N, Mloh. 

Toledo * Ohio Central 

Do pref. 

Onion Pacific ; 

Union Pacific Denver * Oolf . 

Wabash 285 

Do pref. 7,200 

Wheeling A Lake Erie 39,570 

Do pref. 2,905 

Wise Cen. Co.,voting tr. otfs. 500 

niBcellaueou* $itocka, 

28%:^merican Cotton Oil Co.. 



32% Jan. 29 

30 Feb. 20 

100 Jan. 28 

81% Jan. 4 

5% Jan. 28 

19 Jan. 31 
15% Feb. 11 
"~ Jan. 28 

134% Jan. 2 
83% Apr. 19 

6 Mar. 25 
46% Mar. 12 

6 Mar. 6 

20 Jan. 4 
104 Jan. 2 

91% Mar. 4 
14 May 23 
70 May 23 
SUHiMay 23 
12% Jan. SO 
21% Jan. 29 
18% Mar. 11 
13% Mar. 20 

64 Jan. 29 
92% Mar. 15 
11% Feb. 20 

65 Apr. 
24 Feb. 

7% Mar. 
16 Feb, 
29 Jan. 



23 

21 

9 

26 
29 



41% June 18 

117% June 21 
46'8 June 17 
93 June 20 
27% Apr. 1 
«9% Mar. 27 
9 133% Jan. 18 

166% Jan. 18 
16% May 11 
48% May II 
51 May 11 

134 June 20 
98 May 18 
11% June 13 
3478 June 13 
25% May 27 
85 June 26 

151 June 24 
88% Jan. 5 
13% June 24 
til May 11 
10% May 24 
29% May 18 

llO'sMay 7 

103 June 18 
23 Juno 18 
88 June 19 
49''8 Jime20 
19 June 26 
37% Juno 26 
33 s June 19 
27 May 31 
70 Jan. 18 

104 May 
18% May 
72 May 
34% May 
14% May 
32^8 June 15 
53 June 25 



16 
13 
25 
17 
13 



193 Mar. 20 218 June 18 



200 

140 

47,450 

250 

"ebo 



138 

210 

2,360 

6,622 



1,910 

8,275 

31,984 

4,955 



420 



30 
17 
16 

4 



1538 Jan. 
6''b June 
21 June 10 

2 Mar. 5 
9% Mar. 4 
2% Jan. 28 

13 Fob. 27 
4 June 18 

17 Apr. 5 
3% Jan. 29 

3 Feb. 4 
7% Mar. 4 

15 Jan. 12 

43% Jan. 

28 Apr. 

15 Apr. 
112% May 

86% Feb. 15 
4% Jan. 25 
8% Jan. 29 

18 Feb. 5 
90 Feb. 4 

104 Mar. 8 
16% Apr. 17 

8% Jan. 29 
29% Jan. 29 

8% Jan. 30 

'BFeb. 14 

41 Jan. 14 

73 Jan. 14 

7% Mar. 14 

3% Feb. 11 

5% Mar. 6 
12% Jan. 29 

8% Feb. 28 
85 Feb. 25 

2% Mar. 1 



19% May 11 
14% Jan. 21 
43% Jan. 18 
6% May 13 
193eJan. 18 
8% May 13 
27 May 11 
19% May 1 
32 June 11 

9% May 13 

7 May 13 
2158 May 13 
22i4May 13 
54 May 13 
33% Jan. 3 
19'8 June 17 
117% Jan. 21 
68 June 6 

7''8May 25 
17% June 20 
31% May 18 
95 May 11 
116% May 15 
25% June 3 
r4'8May 10 
42% July 2 
iS'sMay 13 

4% May 14 
49 June 14 
81 Mar. 21 
17% May 11 

7% May 14 

9% May 13 
21% June 18 
18% June 27 
54'? July 2 

6% May 14 



Do pref 

American Sugar Befinlng Co. 

Do pref. 

American Tobacco Co 

Do pref, 

Chicago Gas Co., trust reo'ts . . 
Consolidated Gas Company.. 
IMs.A C.F.Co.,tr.ctf. all lns.i>(l 

36% 36% General Kleotrio Co 

'34% 35% National Lead Co 

SO's 90'4 Do pref. 

5% 5% North American Co... 

12% 13% Oregon Improveuient Co.... 

29% 29'8Paoiflo Mall 

'145 iPlpe Line Certllioatee 

'171 174 jPuUman PalaeeCarCompany 
"5*1^ 67% sUver Bullion Certlfloates.. 



' Ihcte are bid asd sfkedi no wis mad*. 4 1st instalment 




Tennessee Coal * Iron. 

Do pref 

United States Cordage Co 500 

Do pref. 641 

United States Leather Co 9.820 

Do pref. 3,171 

United States Bub ber Oo 16,590 

Western Union Telegraph... I 6,268 



500 

336 

196,503 

1,508 

75,092 



179,130 

810, 

75,855 

15,068 

6,400 

614 

4,505 

400 

6,oeo 

4,000 
100154 
30,000 60 
29,353 



18% Feb. 13, 30% May 13 
62 Feb. 18 1 79TeMay 13 
86% Jan. 3 1213eJuuel3 
90% Jan. 8 102% June 13 
84«8 Feb. 211117 May 27 

103% Feb. 27 11618 June 21 
58% July li 7S%Jan. 11 

126 Jan. 29il49 June 8 
13% Mar. 20 24% May 13 



2578 Mar. 4 

26% Feb. 16 

78% Jan. 28 

2% Jan. 30 

8 Mar. 8 

20 Jan. 26 

95% Jan. 4 

Jan. 

Jan. 



13% Jan. 29 

74 Apr. 17 

1% June 27 

2% Juue27 

7 Feb. 27 

68 Feb. 27 

37% June 28 

86 Jan. 29 



3778 Mar. 25 

38 Jan. 18 

91 May 17 

7 May 13 

14% May 24 

32% June 13 

181 May 10 

21178% Juue 17 

10 68% Apr. 1 



40% Juue 29 
102 June 26 
8% Jan. 4 
13% Jan. 4 
24% May 3 
97% May 27 
48 Jane 3 
94% June 14 



3 % paid. II Lowest is ex dividend. 



II 



JULT 8, 18S5.] 



THE CHRONICLE. 



19 



«KW TURK HTUCft BXCUANUR eKlCSmC9*l\*»oi)~.IffAGriVB HTOOkS. nt'tdionte* aetual aa-ia,. 



liiAom • arooKB 
f iDdlcaia* onllstad. 



Railroad Stock*. 

iLikaayA Baiqiiah«nn» 100 

Bait. *0. 8. W. mtt, new ...JOO 

B»UeTtlle*SoaU.IU-prer 100 

BMlM i " " *" ""r"' '"" 

tm»Uj* Bevatadl loo 

ioSa BMiiMMr * PltUbnnc. 100 

Pretemd 100 

Burl. ('«<Ur lUpldx * Sor. 100 

Cl*rel»o-l A fttuoant SO 

I)a«tlo.<Ma A Foil IHxUe 100 

FMbntid. 100 

Oalott to. Bbors * AUantlo 1 .100 

fntemd', 100 

rtlat A Pcre Mkn|ii«it«. 100 

Pr«rMT«d 100 

nt. Bay WlB.*m.P. tr.rM....100 

Pr«famAtraatrM>u 100 

U'loatoa * Tuu Utntra. 100 

nuaoto Oratnl laaanl llBM.... 100 

Kaaawha * MtofataM IOC 

KMkokA DwHoiaM 100 

rtafatrad 100 

LooUT.Bt. LooUATexaa 100 

"«5S£«OD-» »S 

MMropoUtaa Tr«cUuo1 100 

MazlcaB Cenlnl .._100 

Mrziean N>Uaiial tr. etf» 100 

MIOD.At>t. L..tr.reeU..BU p<l..lOO 

rrttearA, tr. irota., all pil...lOO 

Kama A L«M>Z 80 

«•« JanoT * M. Y 100 

IMWrral „ .100 

II T. Laak. a Weatara. lUO 

VoclMkAaouUiani. 100 

Paorta* KaaMra 100* 

B^aaaaJaar a flarataca.........l0O' 

Bio Oraada Waatata prafrilll'lOO 



Jhly 5. 



Bid. AMk. 



!«? 



132H 
103 

lu 
2m 

bO 

43 If 

16»>a 

» 

43 

7 

1««» 

l«>k 

40 



e 

4 

I6^ 

iii' 
io« 
to I 

12% 



ItOH 



179 
44 



I) in 189S. 



XotMtl. 



105 



60 



10 

"8 

la 

44 
1% 



10>a 
3% 

"iH 



6 Apr. 

lOHaApr. 

1!» July 

lU Apr. 

S8 Jan. 

4S Mar 

tsa Jaa. 

&% Feb. 

30 Jan. 

2 la .Mar. 
S>4 Mar. 
« Apr. 

34 Apr. 

mrati. 

mMar. 

M Mar 

8>«ral>. 

3 Jaa. 
13% Mar. 

l»BApr. 



102^. 
3 



7 
43% 



83% Apr. 

8 Mar. 

l%A|>r. 

3»%Pab. 

«oiaJaa. 

IM Faa. 



lia% Jaa. 

•S Apr. 

3 Jaa. 

17tt July 

30 Mar 



HiiiJutl. 



is May 

103 "fVi. 
l« July 
■H .May 
60 .\pr. 
4» Miiv 

ug% Jir> 

11 Ju: 

iH J I 

9 Ju 

ln% Ji: 

17% M, 

4.'> .M .• 

3 M.I 

4%M.. 

3S« M.I . 

84 Jail. 

10 Apr 

s M.r 

16 Juu. 
1% Apr. 



103% Juoe 
13% M«jr 

4 Mar 

•8 Mar 

MHMajr 
104 Jaa. 



118 K.-t.. 

66 Ai.r. 

6% Jjl> 

183 Apr 

46% May 



IHAonra srooKa. 
f ladloatea onllatad. 



July 5. 



Bid. 



Toledo Peoria A Weitam 100 

Foledo St. L. a Kaoaaa City 1 . . 100 
.niarallanaoaa atoeBa. 

Adams Ezpraaa 100 

.\iiierloan Bank NoteCX>1 

Amertean Kzpraaa 100 

Amer. Tetoirraph A Cable 100 

BayStaletiaif 30 

RruniiTiok Company 100 

I bio. June. By. A Btoek Yards. 100 

Preferred 100 

io Coal * Iron Derel... 100 

iiiPaalA Iron 100 

:red 100 

iiaABooklnxOoal 100 

rclal Cable lOOl 

t'aalof Maryland lOO' 

E:ieetrto niuininatins...lOO 
><rapli A releptaone ..lOOi 

. r Conduit A In* lOO' 

l.aeledeOa« 100, 

Ptefarrad lOOi 

I.ahlKli A Wilkeabarra Goal 1 | 

Maryland Coal, prrf 

Mloilfan- Peninsular Oar Co 

Pralarred. 

Mlaaatnta Iron 

iNaMaoal Un*e*i Oil Co 100 

IBtarekMTc.Oo 1001 

-^alOoal ......100 

IrarlOnlnii 100 

ilaOoal SO 

, kpti-Oablel 100 

:<lldekallTar Mlnlnc 100 

I Pialaciad lOOi 

Texaa Paelflc LaadTrost. 100 

r. 8. rorJaice. Kuaraataad lUO 

U.S. Expreaa lOOi 

U.S. BaSbcr Dralerred „100 

Walla. fte>a lapr—* 100 



, 6 

tl4S% 

44 

112% 

94 
16 
3% 



: 9\ 
: 30% 
: 81 
s% 

159 
3'J 

;iuo% 



'. 35% 
90 



55 




63% 
3V 

8 

7 

8 

330 

81 

a\ 

17 

; 11 
, 6 

41 

9J 
107 



47 

115 

•J7 

23 

3% 



10% 
4iaB 
93 
6 



25% 
85 



65 



B5 
29% 
10 

10 



Hi 
3« 
18 



43 

94 
110 



Range (sales) m 1895. 



LotetMl, 



a June 

140 Jan. 

37 Hay 

109 Feb. 

89 Mar. 

13 Mar. 
l%Apr. 

89 Feb. 

4 "Mar. 
23% Mar. 
60 Fob. 

3% Jitu. 
14% Ma.v 
28% Apr. 
94% Mar. 
45% Feb. 
30% Feb. 
23% Jan. 
81 Mar. 
30 Jan. 
SO Jaa. 

53 "jaa. 
39% Mar. 
17% Jan. 

5 Jan. 

6 Jan. 
8% Mar. 

310 Jan. 

69 Apr. 

3 Jan. 

la^Jaa. 

7 Mar. 
6 June 

S6 Mav 

91% June 

104 Kt>b. 



Uighetl 



8 Ma7 

ISO June 
37 Hay 

119% May 

9t>% .May 

25 June 

4% May 

95 Jan. 

11% June 

41% July 

93 July 

9% June 

163% June 
33% Jiui. 

102% June 
59% May 
41% Mar. 
34% Jun* 
82 May 
20 Jan. 
SO J. in. 

S8%'Uay 
69 June 

Sl^JUDC 

13 May 

9 June 
10% May 

320 J at'. 

69 Apr. 
4% Hay 

2a Apr. 

12%fiar 

33% Jan. 

45 Jaa. 

98% June 
111% May 



■o »noa-rrt«ar: laMatpaaa Ikla weak 



I Aetaal aalaa. 



IfKW TOBK HTOCK KXC'HAMME VVLVin^STATK BOSDS JULY ft. 



sacinuTUB. 



iA.4Mt IMe 

aaaaa,»a lOOOi 10><% 

0Uaa0.4a 1906 M 

Oanaaer tnadiaa 4a 1990 •• 

Iftami- t- tmAMM. taM-l»00 
4ia.«a»-Bai*>rd 

7a. 

-7*. 
IHaaipad4a.. 
«!>« aOBsla. 4a 19141 




flKCOBinn. 



la. old 18M-18M 

•a. a«w booda 18n-8-l«00 

da aav aarlaa 1914 

Osmpromlaa, S^VA-Sa 1913 

Sa 1913 

BadamvtlOB4a 1907 

4* 4%a 1918 

ranliaatlaiT 4>aa 191S 

VlrciBla roadad deM,S-3a...l991 
6a. dalarrad fattarla. atan»pad. 



Bid. 



89 



61% 
6 



63 

7 



Hmt lOTk aty Itoak 

Job* t9, IMS. We omit two 

feAxaa. 



for tb« woak coding 
{Off) M aU e a rn* . 




Now Tsrfc City, Bootoa bb4 PhiUdelpkU Banks: 



lltllT« 

iiosau 

iu««a7 
iiie<M6 

«,4}a.o iAS.146.0 T.ut.a 

7.0I«,0 IS^SM.O 7.M7,0 
7.»«4.0 l«ii 147.0 7.*43.0 




1 »01.0 
' IS8.9 

■ -■os.o 



I I99,6S7.0 AI»I.O 

llAiis,OAi9akO 

'l{l.3M.0a.«54.0 



1.404.1 



88.339.8 

•(.83M 

64,638,1 
f».*73,8 
76.068.7 



• ITtaMM MM <«akar* at au titmi jImtw. t iBiladiaa for BoalOB 
•■■fete lAa Maa " «a* to other banka." 

HiM-ellanMiu aa4 Ualiste4 BoiA* : 



aadPnito 



Wlasa l laa— aa Baa da, i 
aalaai;a.wa*lr a«rta.t*. ,.__ 

■LA*. r4a-Oal.t.«.,8a^«i(rP». 

" '• ■ 8<»:»« ■ 



I.-4. . 
l«rn 
T, e« I u. 

> k. 

-%a. 

atBkln., u. 

jJjrT,e«M.a.6«. 112 h. 
_i«.«r.— lat«a....l 97 b. 

■aBrtdaa Ut «. «« 

SaaaldaCri^ 



asi j ia la»»a 

■■MiMriii.os. 



f »«aaT. dab. (» 
1. Oaad. A la*, do 



I«».T 

Maakat-Baaab H.« L «. *• 



t"* b.j 



■laaallaaaaaa B aa da. 
MaOMaL TaL A TaLlat U 
MlafeZ-VMla. Car lat »a. ... 
MaaaallTBtaa T«iac.-6« c. 
N* V. A M. J. TalaiL caa. &•.. 
.Sarthaaatara Talacrapb-Ts. 
faopla^s Uaa A C. ( 1st «. ««. 

Oa..ahlaaca ...IM (. aa. 

istaans.*. Sa 

Plaaa. VaU«rOaal -lat «. 8a 
•aatk Taka Waaar Oa.oae.6a, , 
■aadvCraakUaallfl* fa.. M 
UarZaaibaf<-«.f.dsk.,«..8a 114 
Waatara Unloa Tatac.— . .. *1<H 
Wta«al.I.K.AP!«»CaatlstSa* 62 
VallMad Hoada. 

'tiMalank Tnanai -laa is.. 
Maa-AObarlairtiia— Ooa 7 >. 



no b. 

too b. 
U'i b. 



106 b. 

OS b. 

Itio b. 



12 



Mat! 

Fint ■ 

TIUr>l N»i., 

S.V !«•« K. 

k< ••ry. . 

Mrw V.«» l^n^^tT 



ll«mr-"a~ ladtaawa ttlaa M«: "a 
Bank Htock List— Latest 



liklart fttaa tkU trsak 
thkwsok. ('Kot listed.) 



as.OTS.7 r%.Mn.t 6U.iw.ii sa.aai 1 1 1 i.aoit.» kTo t»>.i 



SANSS. 


Hlrt 


-xisrrvaarnsL 


Aaa.j| SANKi. ,aia. ,Aat 


Aaanaa 


3i») , jdarflaM |3M 


..._- 


Blalk.... 


Aa. Bash... 


IMS' ... lOaraao Aia.iiia 


...M. 


lS«h Wani 


Bawary- 


.... Ooraaa Bx.« .. .. 


.... 


N. AaMTlca 


niaadS, 


'10 lOarmanla... :4<>0 


... . Orlaotal 


Batch* '.-. 


■ ( xr«ao«ich . ISS 


. . Paoiao 


Caaual 


JI*r)oTi.r *!'! 


3.10 Part 


'^k' T] 


, . . 




Paai-i' 


rmaAik.M 




MO 


Pbai' ills 


na^^i*. 






Pl«l. 


.^ 


OHFii 


j'.tni-r .^1" I'.-' 


300 


Bapaliuu.... i.'i'v 


165 


fUmm^mm' 


i.iaoola 'IIS 




Bafteaj... 


IIM 


..«• 


»|B.MK, . 




...*. 


Saoaad 


SOU 


...— 


X*^^**"' 


.. MamatAFal-il!! 

IM iMaohaaioa'. 1><4 

3W> Mo If-ate'ATr*' Itu 




•avaalfe .. 




'•• 


rhaSi. 1 1 1 


190 




90 


103 


Qgm Bsah.. 


ISS 


laeBtham.. 


U» 


ISU 




1.><| UO iMsraaoUla I'-' 


300 IHUlMf N.Y. 


!<•& 


....•• 


Ill 


'4«rahaBU' 


r\ ....,.• 


lOA 


^ 


rr 


4ar<ib'U Kt 


•>4ni*n'i> 


87 


96 


n 


Vatrooolls . 


.Vara*.. 




...•a 




•rfwRj : 


Mt. Marns. !■' 


... v>uiva* ...... 


....M 


....a 


ntB»i(.,s.i. 


110 


110 




ISO 


no'4 rttaia. 


180 


- -•■ 


uthnmU 






l.'Taw York ^ilo 




Waawra 


111 


113 





IM7 


iK.Y.Nat.iV.llOO 




iTMt nida.. 


280 


.— ••• 


•allaUa... . 


SIS 


HO " II 



20 



THE CHRONICLE. 



[Vol. LXT. 



i;r.»TON. P«...4»K^P»illA_AND^BALTIM0BE ^TQC^t EXCH ANgES 



Aetlvt Btoekt. 
f iBdlcttM* nnlliled. 



"cr »>*r« Prl«e» - ao* P*"- Centum Prlca«, 



At«n. T. A B. Fe (Bo»/o>i).100 
AtUDtIc A P»o. •• 100 

B»Uliuor<» & OUio {BaH.)100 

Baltimore Tr»oOon " M 

B»iUinoreTr»o"BH(P*«')- «S 

SStt.Jof»U... :; 100 
Preferred 10° 

Sle Bar.AQaln. " 100 
lo.MII 4 it. P.(PAi').lOO 
Ou>.<).*G.TOt.t.P. " »0 

aU8t.KTOfIod^ lOJ 

Solriotnwtrii " ^ 
Fllohbarg pref . . (Boilon) . ITO 

Itolne Centrkl (8o<to»).10r 
l»etroi)ornTr»o.T (PMl).\OU 
MexlcM OenVl fB(../o>i).100 
a V.*N.B.,tr.reo.5 " 100 

Prsferied.tr.reo.4 ". 100 
«>rthem Central (B:l.). iO 
ir>rt»iera Paclflo tPhila.nOO 

Preferred •' lOu 

Old Colony (Botlon) lOO 

PennBylT»nl»...f/*A"<».>- SO 
Peonle'«Tr»cUon " o? 

PhUk * RMMllng. " 50 
PnlUdelph Tr»c. ' 50 
Union P*rll1o...^J?of(oi»MOO 

Hleeellaneoae Stock*. 
Am.Sug'rRetln.lirBof'on^--- 

Preferred 

ell Telephone.. 
Bast. A Hontana. 
Battel Boston.. 
Oalumat & Hecla . -» 

OaatonOo (Ball.).lOO 

OonaolldBiedQas " 100 
Biee.8ioftBafy1I(PA''<»-)-l9* 

PraferredH " 100 

Sne Telephone.rBojtoiiMOO 
Aeneral Electric " 10 

Preferred " 10 

LtmsonSCoreSer. " 51 
I^ihnCatlAShy.fPltUa.) 5i 
». E. Telephone (Boston). 100 
tJnU*dQastmp.1irrA>'a.>. 5C 
Welabaob Light 1i " 
WMt End Land.. rBM/o/M... 
i All InstslmentB paid. 



Satardiy, 
June 29. 

<9>< 91* 



Monday, 
July 1. 

1>« 1»6 

•62«» 

•72 72 ■• 

•2.)% 2i)^ 

.„-, - . c ao"* ZO"* 

2tO'«2lO'*{ 210>«210>s 

202 ... •a<>2 .... 

IT* I7d 175 177 

U 14 U 14 



(it 63 
•72 

•iJH 20% 

20)« 2i>7« 



Sff 84 H 

08 68% 

13H IS"* 

49 49 

74 74 

•91 

37^ 87»s 



100 
25 
25 

2S 



zlOU>«100ie 
10>i 10\ 
474 47''6 
9S 96 

•67 

4>4 4^ 
10\ 16*1 

I8il 

S3^ 53 •« 
61>e 61^ 
9 9»if 
83>s 83 •* 
•la"* 12% 

lOe-'a 103'f 

99 9»i» 

I1195>«2X)'« 

58% 60>4 

15>« US'* 

a92>l29} 

•70 



Tuesday. IWedneaday, 
July 2. July 3 



67»» 6-;^ 
IS"* 13>« 
4S'« 4S\| 
74 74 

x30'« 901* 
37% 37>t 

136 136 
»iH 100 
lOij lOi* 
47'* 47'. 



•67 

4<4 4>4 
17 17'« 

HO 

iS'a 53% 
61 61% 
SH 9»,g 
82>i 82''e 
12 12 

105% 109 >e 

il94'*195»« 
61 6554 
15% 1616 

'290 295 



30 



(9% 10 

•m 1% 

6i% 62 H 

72 7i 
20% 21% 
20% 20% 
210%210i« 
202 202 
171 175 
•18% 14% 

• 57% 

81 S5V» 
67% 68 '« 
13% 13% 
48% 48 '« 
73% 74 
90 90% 
37% 37% 
138 133 
99% 10) 
10% 10% 
4S% 50 

100 

68 68 

4% 4i« 

1»% 1714 

179% 179* 

51% 53'8 

61% 61% 

93,8 9% 

82% 83 

*12»8 13% 

109 HI 
99% 100% 

194 195 
66 681s 
16% 17% 
•290 295 



19% 9% 



72 72 
30% 2)% 
20% 20% 

210% 210% 
'202 .... 

175 175 
14% 14% 

•i6 60 



Tliursday, 
July 4 



63% 
80 
80 

57% 57% 
35% 33% 
'70 71 
'2r\ 23 
4U'< 46% 
•75 76 
78% 78% 
55% 56 
2% 2% 
• Bl 1 ind 



62% OiH 
30 SO 



•57 57% 

85% 36% 

•69 70 

•22% 23% 

46% 46% 



76 

78% 



76 

79% 



57% 59 
2>« 2% 
asked prices 



63% 61% 
29% 30 



84 81% 
67% 67'e 
13% 13% 
50 51 
78% 74 
90 99% 
87% 37-« 

13* 138 
99% 103 
10% 10% 
50% 51 
95 95 
68% 63% 
4% 4% 
17% 17% 

179% 179% 
53% 53% 
61% 61% 
9»,« 9% 
8J% S3 
'12»8 13 1< 

109 110% 
10J%100% 
194 195 
68% 7.% 
16'e 17% 
295 293 
•70 72 

♦ea^a 61% 



Friday, 
July 5. 



Bales 
of the 
Week, 
Shares. 



B) 
O 



67% 57% 

37 37% 

•89% 70 

'22% 23% 

'46 46% 

•76 

7M% 7858 



58 
2% 
no «ale 



59% 
2% 



67 87 

35''8 38% 

70 71 

•22% 23% 

46% 46% 

•76% 

78 78 

58% 58% 

2% 2% 
made. 



*1 

•62 

*72 
20% 
20% 

210% 
•202 

174 

•13% 

•55 
84% 
68 
13% 
50% 

•73% 

•90 
37% 

135 

101 
11% 
49% 

♦93 

•68 
4% 
17-* 

179% 
53% 
61% 
97i, 
82% 
♦12% 



9% 
1% 
64 

74 

20^8 

2)% 
210% 
204 
14 

14% 

60 

85% 

68% 

14 

52% 

74 

9<% 

37% 
137 
10?% 

12% 

49% 

93 

63% 
4^8 

17% 
1791 

51 

6L% 
9»ie 

83% 
13 



Banfe of sales in 1895. 



Lowest. 



2,417 

5 

50 

235 

1,200 

1,476 

41 

7 

58 

34 

8,73*8 

16,000 

1,041 

2,2 J I 

124 

31J 

766 

10 

6,978 

2,203 

1,575 

284 

18 

1,883 

1,600 

94 

2,8 i9 

1,570 

14,72 

2,039 

17 



HlKUeti... 



31% Jan. 30 
•60 Jan. 23 
49^6 Mar. 8 
69% Mar. 11 
14% Jan. 28 
14% Jan. 30 
!U6% Mar. 13 
196% Jan. 2 
169 Jan. 2 
5 Apr. 13 
48 Feb. 28 
69% Mar. 4 
84 Mar. 9 
11% May 11 
34% Feb. 2 
70 Apr. 22 
82% Jan. 11 
27% Mar. 8 
125 % Jan. 7 
81 Apr 
5 \ Jan, 
29 Jan. 
59% Feb 
64 Jan. _- 
2% Jan. 30 
13 Feb. 27 
176% June 1 
4S% Jan <' 
43% Jan. 20 
8'»i8 Mar. 4 
76 Apr. 2 
8 Mar. 12 



. 2 

, 31 

29 

. 8 
, 29 



109% 112 
100% 100 1| 
1U4 1"»5 
71% 78% 
17% 18% 
299 299 
•70 7i 
-63 61% 
2) 29 

• 29 

57-« 57% 
36% 36''e 
*70 71 
•22 23 
'46 4tfi 
•77 7* 
77% 78% 
53% 59 
: *2% 2% 

II Lowest Is los dWlde id. 



tlO'a JuielS 
2 May 13 
65 Jan. 21 
74 June 12 
21% June 17 
21% June 17 
210% Apr. 22 
234 May 13 
177% June 18 
16 May 13 
63% May 14 
Si's June 18 
69% June 17 
15% June 17 
52% July 5 
87 Jan. 3 
93% Jane 12 
3) May 11 
138 July 2 
103 % Jan. 3 
13'*May 7 
52% Juae26 
103% June 21 
70% June 7 
7% May 13 
25\ May 14 
18i% JunelQ 
54 July 5 
6'i June 3 
10% May 18 
99% Jen. 2 
17% May 10 



28.793 
595 
607 



5k5 

■"12" 

3,6>5 

27 



86% Jan. 7 
90 Jan. ^ 

„„. 175% Apr i: 
48.831 S3%Jaa. 2 
33,2<»0 9 Mar. 12 

103 280 Mar. 12 
67% May 4 

112 60 May 17 
26 Jane 13 
28 Apr. 5 
45% Feb. 13 
2o'e Mar. 4 
60 Feb. 5 
22 % Feb. 28 
40% Mar. 8 

66 Feb. 15 

67 Apr. 2 
Mar. 2» 

. .„, _ Jan. 30 
t Ist in stilment. $3. 




12)% June 13 

102% June 12 

210 May 20 

78% July 5 

18% July 5 

S3i May 27 

91% Jan. 16 

65% Jan. 2 

34% Feb, 13 

32% Mar. 18 

59 May 13 
37% Mar. 25 
7 1 June 26 
25% Apr. 16 
49% Jan. 6 
76 July 1 
7 4% June 17 

60 Jane 21 
33, « May 9 

pa'd. 



Inactive Stock*. 



Bid. 



Pricet ot July 6. 
AtianU A Charlotte (£a/M.i00 
Boston dc Providence {So$ton).lOO 
Camden &AUanticpl.(i'Ai/a.). 60 
Citawlesa " 50 

l^t preferred " 50 

Central Ohio <Bo/(.). 60 

Chicago Si West Mich. (B(W(o>i). 100 
Connecticut * Pass.. " 100 

Oonneotioat River " 100 

OeDsol. Tract of N.J.^ {Phila.) . 1 00 
Delsware&BoundBr. " 100 
nint& Pere Marq...(Bo»ton).100 

Preferred " 100 

BestonvlUe PassenK. (Phtla.j. 50 

Preferred K " 60 

fiant.dc Broad Top... " 60 

Preferred " 60 

K»D. C'y FU8. A Hem. {Boston) . 100 

Preferred " 100 

UtUe Bohuylklll (PhUa.). 50 

Mine HUl & 8. Haven " 60 
WeaquebonioKVal ... " 60 
■orth American Co.. " lOOi 
Vorth Pennsylvania. " 50 

Oregon Short Line. ..^£o«/on;. 100 
rennayWanladtM.W. r/'AUa.>. 50. 
Phlladel. * Erie " .50 

Batland (BottonJ.lOO] 

Preferred " 100 

Bonthem fBoW.; .100. 

Preferred " lOO; 

WeatEod (Boston). 60 

Preferred ,. " 60 

OiUted Cos. of N. J.. r/-Aaa.M00 

West Jersey " 60 

West Jersey AAtlan. " 50 

Western N.Y. A Penn " 100 

Wisconsin Central. ..rBofton;. 100 
Preferred " 100 

Worc%t.Nasb.ABo«h. " 100 
MIRCKLLUrBOUS. 

Alloo*tMin'f(,ass(pdC£(W<an;. 86 

▲tUatlo Mlnlnc 

Bay Bute Qasl 

Boston Land 

OentennlaJ Mining... 

Fort Wayne Eleot.1.. 

Franklin lUnlDK 

Frencbni'n%Bay L'd. 

BUnolseteel 

Kearsarge Mlniog.... 

OMeolaHtnlnK. 

Pullman Palaoe Car. 

Pennsylvania Bt^el.. 
Preferredt 

QnlDoy Mining (Btslon). 

ftmarack Mining 

Water Power 

Westingh. Eleo.AM.. 
Pref.. eumulatlve . 

At.^S^.UrA'ii^?P.U,19B9. J*J 
942%-4a,g., Cl«aaA..1989, AAO 
BMtoD UnliMl Oas 1st 61 



92% 92% 
263 265 



Inactive stock*. 



Bid. 



Ask. 



33 






4 




48 


21 


22% 


140 


142 


250 


255 


29 


HO 




165 


12 


IS 


43 


46 


59 






72 


33 




64% 


ftii 


16% 


17% 


55 


60 


62 




64% 








85 


86 


6 


7 


•«*■•• 


40 
29% 




londii 



Boston UnltedGai. 2am. 58. .1939|{ 52% 53 
Burl.AMo. RiverExeJopt 6s, J&JifllS 116% 

Non-eiemptes 1918, J&J 5105 106 

Plata 48 1910, J&J J 98 99 

Ohio. Burl. & Nor. 1st 6,1926, A&O 5 104 104% 

2d mort. 68 1918, J4D J 99 101 

Debenture 6s 1896,J<feDJ99 100 

Ohlo.Burl.&Qulnoy4s..l922,F<feA5 95 97 

Iowa Division 4s 1919, A&O } 97% 99 

Chlo.&W.Mioh. gen. 58,1921,J&D5 82 85 
Consol. of Vermont, 5s. 1913, J&J 5 89 90 
Current River, 1st, 8s. .1927, A&O 5 70 80 
Det.LanB.&Nor'nM.7s.l907.J&J * 63 67 

f astern Ist mort 6 g.l906,M&8.. §120% 121 
Tee.Elk.&M.V.,l8t, 68.1933, und. §126 127% 
K.C.C.&Sprlng.,l8t,5g.,1925,A&0 5 80 85 
K 0. F.8.&M. oon.6s,1928, M&N § 97 99 
K.C.M6m.&Blr.,l8t,28,1927,M&8 ; 60 65 
K.C. 8t. Jo. &C. B., 7b.. 1907', J&J 5122 124 
L.Rock&Ft.8yl8t,7s..l905,J&J§ 90 95 
Loul8.,Ev.&8t.L.,lst,6g.l926,A&0 9104 105 

2m.,5— 6g 1936, A&O 9 90 95 

Mar. H. & Ont., 68 1925, A&O 5106 107 

Mexican Central,4g... 1911, J&J 5 66% 67 

Ist oonsol.inoomes, 3 g, non-oum. 19 20 

2d oonaol. incomes. 38, non-cum. 10 10% 
N. Y. & N.Eng,, 1st, 7s,1905, J&J' *122 123 I 

Istmort. 68 ,...1905, J&J *113 114%' 

2dmort. 68 1902,F&A*111 Ill's 

Ogden. 4L.C.,Oon.6s...l920,A&0 5l07 107%] 

Ino.es 1920* 15 22 I 

Ru tland, Ist.Bs 1902,M&N 0110% 111% 

-• - . ■ « 102% 



102 
lOi 



ad, 6s.1....'...........1898;f&A 5101% 

Atlantic City Ist 58, g., 1919, M&N 
BelTldere Del., Ist, 68..1902, J&D 

Buffalo Ry. con. 1st, 5s 1931 

Uttawissa, M.,7s 1900, F&A 

Choc. Okla. & Gulf, prior lien 6s.. 
Citizens' St.Ky.of lnd.,oon,58.1933 
Columb. St. Ry„ iBt, con. 5s.. 1932 
Columb. O. Crosstown, l8t,58.1933 
Conaol. Tract, of N. J., lst,58.1933 
Del. & B'd Br'k, Ist, 7e. 1905, F&A 
Evton&Am. l8tM.,58.1920,M&N 
Elmlr. &Wilm.,lBt,6B.1910, J&J. 
HestonvUle M. & F„ con. 5s.. 1924 
Hunt. & Br'dTop,Con.68.'95,A&0 

Lehigh Nav.4%s 1914, Q-^ 

2d 6s, gold 1897, J&D 

Oeneral mort. 4%s, g.l924,Q— F 
Lehigh Val.Ooal l8t5s,g.l933,J&J 
Lehigh VaUey , 1st 6s. .. 1898, J&D 

Sd7s 1910, M&8 

OoDsol. 6 1923, J&D 

Newark Passenger, con. 6s... 1930 
North Penn. 1st, 7s....l696. M&N 

Oen. H.7s 1903, J&J 

Pennsylvania geu.6s,r..l910, Var 

Oon«ol.6s,o 1906, Tai 

Oonsol. 6s, r 1919, Var 

CtoUat. Tr. 4% g 1»13, J&I> 

Pa. & N. Y. Canal, 7s.. .1906,J&D 
Onn. lis loao **o 



114 
107% 

92% 
101 
101 

86% 
126 
109% 
116 
110 
106 
110 
106 
105 



106% 

137 

122% 

101 

103% 

125% 

131%'.... 

119 lias 



101% 



128 1124 



People's Trac. trust certs. 48..1913 
PerKlomen, 1st ser.,5s.l918, Q— J 
PhUa.& Erie gen. M. 5g.,1920, A&O 

Gen. mort., 4 g 1920, A&O 

Phlla & Read, new 4 g., 1958, J&J 
1st pref. income, 5 g, 1958, Feb 1 
2d pref. income, 5 g, 1958, Feb. 1 
8d pref. income, 6 g, 1958, Feb. 1 

2d, 58 1933, A&O 

Consol. mort. 7s 1911. J&D 

Consol.mort. 6g 1911, J&D 

Improvement&L 6 g. , 1897, A&O 
Con.M.,5 g.,stamped,1922,M&N 

Terminal 5a. g 1941. Q.— F. 

Phil. WUm. & Bait, 48.1917, A&O 
Pitts. C. & at. L., 7s. ...1900, F&A 
Rochester Railway, con. ds ..1930 
Sohuyl.R.E.81de,l8t5 g.l935, J&D 

Union Terminal 1st 5s F&A 

Bondsr-Baltimore. „ ,. , 
Atlauta&Charl.. Ist 78, 1907, Jtl 
Baltimc/re Belt, Ist, 68.1990, M&N 
Bait. O. Pass. 1st 5s.. -.1911, M&N 
Bait. Traction, 1st 5b. .1929, M&S 
Exten. & inipt. 63. ...19 )1, M&S 

No. Bait. Dlv., 58 1942. J&D, 

Baltimore & Ohio 4 g., 1935, A&O 

Pitts. & Conn., 5 g....l925, F&A 

Btaten Island, 2d, 5 g-1926, J&J 

Bal.&Ohio8.W.,l8t,4%g.l990,J&J 

Cap6F.&Yad.,8er.A..6g.l9l6, J&D 

Series B., 6 g 1916. J&D 

Series C, 6 g 1916, J&D 

Cent. Ohio, 4%g 1930, M&S| 

Cent. Pass., Ist 58. ....1932, M&N 

City & Sub., l8t 58 192^, J&D 

Charl.0ol.&Aug.ext.5B.1910, J&J 
Col. & Greenv., 1st 5-68.1917, J&J 
Ga. Car. & Nor. 1st 6 g..l929. J&J 
Georgia Pac, 1st 5-6s...l922, J&J 

North. Cent. 6s 1900, J&J 

68 1904, J&J 

Berles A, &s 1926, J&J 

4%s 1925, A&O 

Pledm.&Cam.,l8t, 5 g. 1911, F&A 
Pitts. & Connells. let 78.1898, J&J 

Bouchera, Ist Ss ...1994, J&J 

YlrgtnlaMid., Ist 6s... 1906, M&S 

2d Series, 68 1911 M&8 

3d Series, 6b 1916, H&a 

4th Series, 3-4-58 1921, M&8 

5th Series, 58 1926, M&8 

WestVa C.&P.lst,6g. 1911, J&J 
Wept'L i(.C. Oonsel. 6 g.l914, J&J 
Wllm. Col. A Aug., 68.. 1910, J&D 

, MlgOEL!:.ANBOU8. 

I Baltimore Water 68. ..1916, M&N 

Funding 5*..... 1916, M&N 

Exchange 3i«s 1930, J&J 

Tlrgtaiir(8tate)8s,new.l932, J&J 
Funded debt, 2-38 lOai.J&J 

Chesapeake Gas, 6s 1»00, J&D 

Cinsol. Gas, 6s....m....1910, J&D 
6s ... ._193»„J*J 



Bid. 

97 
101% 
117 
103 

67% 

32% 

20 

15 
120% 
126 
114% 
103% 

98% 
105 ■• 
102 
llS^e 
104 
103% 



97% 



68% 
32% 
2U% 
16 



106 



121% 




110% 
10614 106% 



102% 

108% 107% 

112 

112 

122%' 123 
121%' 122% 
104%j 

73% 74 
6108 62 

109 

115 

106% 



116 
106% 



' Priee Includes OTtrdue eoaiions. 



f OnUsied. 



i Asd aesrmsd Utereit. 



t Last price this weak. 



JriY «, UK.] 



THE CHRONICLE. 



21 



NEW TOBK STOCK EXCHANGI PRICES (ComUmmti)- ACTIVE BONDS JULY i AND FOB YEAR 180«, 



RUtXOAO A»D Mdcbi. Boia)«.|^'^!| ,*****, 



O^Mw« Bang* (taUt/ im 18»5. 



Amrr. ODMOli OU. 4«b„ SfrlW Q-F 
Ai.lop.*e.F.-100-TT..4«Jl»gJ * J' 

Oorkl<U»nd-Co»»..4«.J940^» * A' 

Btooklyn Kl«T.-l»t. ■ * 

DaloB KtoTMa^-— ' 
BTOrnWkrfAW.n- 

3^5^ Itf IJ M « 0| 

OiBt.ak.-^*W.l«t«an.&a.li''i» 

OOBMl.,7* 1»02 MAN 

A».i>o«k*iBp!rzrv..i»3ii'i A J 

On«mir»MlaL-6«M.«*.189» J A J 

CkM. * OUe.-fl«r. A, 6 (.1»om a a o 

tfortoM. a c I'll A A u 

i.«^SSi.6«.::: 1939 ma » 

U«ur>14>MK IW.MA 8 

H.*A.I>(T.,Uteoil.,4K.t»HU J A J 
*■ 34eoB.,«i|.19»u J A J' 

£Ua.Lu.ABl(l»u.-ft«.19<»M A t» 
Ckie.Bul.*q.-Oon..7t.l9<>:i J A J 

UM«Biara,9«. 1 ' 

OBavwtfklete. « l 

DMnrOlTMM4a l' 

a*femakaBstaaa|pa.4«.li>'.'T m ji .> 

BaaUia«J<M.-ODM..a«.l»U M A 8 
lkiaL*B.IU.-lM.*.(..««.l»v7 J AU 

" ■••« »93» A AO( 

.J UAH I., let. S»..193T MAM 
• *b1a.-Ut..S«.lW-).: MA Mi 

— IMMI.S* l»9i Oat. 

0kl6.OML.Aa-l«V5(..1937 J 

Ut. BoMfeww* IMt.. Oa . . lOUW J 
l«t.So. Mima. DlT,a*...l910 J 
lM.Ck.*Paa.W.OlT.^.lKil J 
Cklfc A Mo. lUr. blT..»«. 19-Je J 

«lM.AMtBB..UT.,5(.l»-il J 

T)(KlaAl,5( 1914 J 

e«a.M.,4s.,Mrt«aA...19ttv J 

MU.AMor.-l*t.«m..6a.l913 J A L> 
~' L*M. W.-OmML.7«.19t5 <«-F 

L7a 19(» J A 1> 

.1938 A A U 
1»W A AO< 

^sa.inaMA «; 

1...1»WJ1A M 

ifsair A a' 

TWU. — L,— Q».i917J A J 
■ M«mL,S«...I93« J A J, 
^•■Mn.A«...19ai'M A Vi 

.*a-«ik...l9SI>J Abt 

QwtoAdOOMl— . ll..m7J A J 
UaC*L-f)IM*L.7 



kiaiM.r 

jMatoad. 

UaC*L-f)IM*L.7fl-l»4J Ab 

bm— inMiL.a «.... .igt J * J 

QaAAMJ.-rw.Ak.4lLlM0 A * o 

tollAlt4« 19«b A«CU. 

Ofe<.UMl*lraim.-«f IWWFA A 

0Ma.?aLAT*l.-OM.j»Cl»i«liMA al 

o«w*La( latMJ A ui 

l>WT«*1U*er.-UI.7c.l9UU M A II 

i«»IIAIlL,4«. XVMii A J 

P«LMwlkr*AIL-«f.. .193: J A J 

B.-jc«rJ>.uv&« MA* 

,aMi.5«,ir \-J-i. J A 1/ 

AO, 

, A • 

LiiMi*. l.i. . A A 

taVAWt*" '.!> M A » 

aa4-«« -.wMAa 

• UMUd^ . .-4 jJeJAU 

>U^lU»f^la^&«..iM6 J A J • 
-toUMk— lJt..tC.„.181» 4-F , 

tM.-CBA.af-laC7k.iaai»U A J 

. OkMoL MatJK 7* laoa J A u 

lAMUUaa.- M«M.,ftc.lMt <(-J 

" * M. a!..ia3v J A J 

••Mnt.ac IWii'J A Li 

Ma ia.4«. — i»4«<j A J 

|Mk.flAllL-ULc«4..*(.-a7lF A A 

twill llj 0*Mf-4 ■.1987 4 A J. 

llBh M.A.AUfc.-Ul.^m»J A J 

. «)■■— i.a« laia A a o 

I«aiibai.i.*T»saa.— a».iaiT F A a 

■—at*— MMuL 4«. ■""" ' 4 " 

ll»u«. MlavM*4.— lat. 

M.«a 

mak-Oia^-iat^araa., ,,..*.,. ... .■ 

Baai ii.aa iwi m a » 

B^lA>»aa. aw.— ia«.»».i9ii max 

. ■n«.Al«fc.5«. I9»> F A * 

M I Aat.U-lMo(ni.3aj(.10:uMA .V 
M" A.*B-Ia»t«,(.,0-t»43 A A U 
M.K. ATaub— lat.«A.(.l»9uJ AD 

^•ai4a,« IMu F A A 

llak>a&-Ut.«>B.. a«....l»-i»M A M, 

_«. 7a. lauaM A m' 



113 b. 110>« Frb. 

7ti 1* I 6-J Mi»r. 

I 3H 16>aMar. 

23% 17 Mar. 

' V2 b,| 441, Jan. 

■"->« I M Mar. 

a. SAiaMar. 

l(H%Mar 

. n« l>. 100 Jan. 

107 b 103<a Mar. 

f 6-J>« ao Jan. 

lIt>aFeb. 

•II- b. lu Mar. 

115'i 111 Jan. 

lCij>«b. 1U1% Mar. 

90 b. g» Mar. 

Ill b. lui«Apr. 

103 b.l01>«Kel>. 

•118 4b. 117 Apr. 

117>ab. lltfis Aur. 

111>« 103>«Mar. 

«3 I 69>*Mar. 

•7 a.' - - - 



luu^b. 
liuv 
lot a. 

106>|b.! 

•7 bk' 

9-J 




at Fab. 

S.' Apr. 

95 M.>r. 
lid Mar. 

9a>«Mar. 

»«>«Mar. 

•>>aFebL 

M''«F»b. 
lltt^a. lia>aMar. 
ll4S>h.ll4 June 
US b-'lSlifApr 

ae a.| a« fm. 

as a. I 77 Mar. 
' SI a.' lA^Mar. 

9-J% ' ao Judo 
IMH 1S5 Frb. 
lis b. lliHMar. 
U» bL llJ - 
lli>ab. loa>tFat>. 
loa bi IM V9*k 
110>«a. 107>« Jaa. 
1U0>* loaiaFah, 

aj b. a7 FtU 

110 b. 110 Jan. 
Itosb. lin Mar 
131>« llWHJoaa 

111 bL lU J 



I13<« Apr. 

77 >, July 
24««J lie 
; a««iMay 
' 51 K) June 
10>i May 
10«( Slav 
KM'i .Inn- 

I r: • 

lu 

IIJ .Mill'' 

121 Jan. 

IIh'4 June 

too Jan. 
03 Jan. 

lU<tJan. 

!00 Jilur 

I'Jl Feb. 

120 Mar. 

Ill'^Junv 
<«>''« June 
a-iiH J line 

00 JllM- 

lol \ Jul'. 

l-.W» Jui.<- 

10«>-j June 

106 July 

8«%Jaa. 

9-J May 

laOHJao. 

1171a May 

136>«JaiL 

100<^ Apr. 

03>sJuae 

39 May 

a6% June 

130% June 

liaiaJone 

Mar. 11(1 June 



Ran-aADA«.M»c.u Bo«a'y,i.^i|<'Say 1 "'^ <'^> <* ^^^ 

I | iVrtodUw<y 5. | XommI. I HigtmL 

' Pae-otMo.— Ut.ax..4g.l938 f A A 'IDS b 100 >• Mar. 106 June 

I .2"»"f*;., ;-v}222 J * J l"*"**- 103 Mar. IDS June 

Ht.L..*Ir.Mt.latezt..Sa.l89. F A A lO'J l>. lOO .Mar. 103% Jan. 

3d,7f 1897 M A N 103 i,b. 103 May 

Cairo Ark. *Texaa.7s. 1897 J A O' lO'J b. 97 Mar 
0«o.B;T*landKr..5g.l931 A A O 7-.t>ib. 74% Apr.' 

M.>bUe*Olll»-New,6K..1927 J AD ..'i^«"- 

Uen<miBortMe.4a....l93tl M A »! 
Nii«h. Ch. AStir-lat.7al913j A J, 

'.■niioL.Sg 1938 A A O 

--.it'lStarelilUK.— Iat,aa.l930l( A N 
■'oY-Uaaml— Debtaxt.4a.1905 MAN' 

l*(,M«poa.7a 1903J A J 

Oeb«A..aa.eoap.. 1884..1904 MAS 



N. T.*Hafleai,7a,rac.i900MA K, 110 : 
R.W.*Ot4..ooaaaL.l&.1032 A A 0| 11!) i 
Weatinim.j[i»»r..4a....3361 J A J 105 v 



. Ajir. 

lis Mar. 

b S3 Mar. 

b. 130 Mar. 

b., 98>aApr. 

b.' 00 Jan. 
103>4b.,103 Mar. 
122 b. 120>aJaD. 
107>a lOSi^Apr. 



•120 

68 

137 

100 

97 



low>«a. l00>aApr. 
~ bblOOiiMar 



110 




lie 

74 
'■^ 

•a k. t3 

ia •••■Mar. 

•a Ja>. 
113% May 
79 Jan. 

ao r«bw 

11 »l OA Fab. 
I>« aO May 
•7 Jan. 
•1 Fobk 

aa Jan. 
iOUSa. lv3'4May 
liasb. 117 Feti. 

7WSb. a7>«Mar. 

»l*%a •t<«M..r 

««>■*. aa J»- 
aa>« ao% vr 

II, 1. :r.n»J.. 



% y*it. 

Apr. 



lU b. 

S<-.%b. 
9u<tb. 

aaSAl 

7I%& 

loj a. 



no Jun<- 
107 . 

11< 

Vj't Ju.> 

130 Feb. 
l4a%Jaa. 
133% Fbb. 
IM Jan. 
lia%JaA 
It* Jan. 
Mf Jaa, 
lOattFab. 

131 Jaa^ 
107 >« Jan.' 

a7% Juar 
130 May 

»4 May 
130 Juur 
134 JuB^ 

02 Jun- 

27>« M», 

9. 

9- 
115'* Ai.r. 

av June 

aa >■ Jan. 

74% Jan. 

■9% May 

aaiaJan. 

TaSJaoo 
IUu% Jane 
l«n M>; 
I JO Ai>r. 

-O J.I...- 



sj a. 

374 
I'M b 
1004a. 

1 . . . 1,, 



li/7 b. 

113% 
l».<%a. 

94 

i)J b. 
94 b. 
113 



7» Jan. 

aa Jan. 
loa Jan. 

»3%re«>. 

M Feb. 

9« Jan. 
ua>«Jaa. 
too M..y 
117 May 
1044 Juoe 
lS7%May 
100 Ai- 
1U<| Ml 

• 1 Jai 

79% V»^. 

44 Fan. 

63 Mar. 
lua Mar. 



-• Jaa. 

i>tM<r 

. ..14 Juit*< 

004 Jo: > 

1 10% Mar. 

1 ji J ,-. 



aa4June 

ao May 
1 13% May 

101% May 
ao Juur 
lOl June 
13:1 June 
100 Fab. 
1314 Ji- 
lO-.i -. 
13 



.V. Y.Ohl&*£^— 4K...1937 A AOI 

.V Y. BleTatwl-7a 190t)j A J 

.V. T. Uak. A W.-Ut, 6a. 192 1 J A J ' 

ConatMSttoa. 5« 19." - • - 

■'(.Y.LJL*W.-lat,oon.,7c.l9. 

2d<WMoL,a« ID' 

I»nC Dock, oonaoL.OapC. 193.' .\ « <^> 
N yTS. H. a H.-Cbn. d% olfa A A Oi 
-'<. Y. Oat,AW.-Be(.4a.(.19U2 MAS 

CunaaL, lal. 5a. ( 1039 J A Di 11 

.V.YJMMi4w.-latre(..Sa(.1937 J A J 

uiSSSLot*. J., 6a^ . 1910 A A O 
.'(orfUkV.-lOO.ranrlsLg.igeoj A J 



105 

n»7 

132 



Ull 

146 I 

OSS 



b. 115% May 
113% Apr. 
103% Feb. 
101% Fen. 
107 July 
b. 131 Mar. 
• 4 Feb. :117 

J Mar. 134 
^.Feb. ;t71 
0. 12IJ Feb. 
137 Jan. 
9« Jan. 



104 Jan. 

103% Hay 
SO-aMnr 

130% Mat 
69%Juna 

133% June 
1 103 Mar. 
{ 98 June 

104% Ape 
;12t> Jiuia 

109% Jan. 
iil0% Apt 

lia Jan. 

107% June 
|10<! June 

lloi^juna 

136 June 



June- 
May 
Mat 
Jan. 



.No 



PiaWa lat.eonpk,6«.193l J A j 

OenanL Sd. aonp.. i (. 1033 A A O 

a« i wt »<,aoa^.er ■ - 



Uea«MtM.oo«»..a(..ie37J A D 

„_ ia.-.iaeoij AD 

OoL irpilMtl ■lin. aa.lBOHM A m 
ChUL*M.>Ae..lat.5c.ia40 A a 0« 
8aiA.ua. A B., lav <a.B. 1931 F A All 
.Ho. PaatBaA Maal.-«(..193i M A 9 
.'(o. PniMaTH-,OaL-«r ■193< J A J 



11 

li 
7;i-j 
414 
85 
47 
44 I 
30 I 

103 
•107 



4l)%.Mar 
24 Jan. 



' r*<on bur. Oik — lab ■• 



70 
't37 

(38 

' ao 
a« 

107 
' 31 



Mar. 
Jan, 
Jan. 
Mar. 
Jan. 
Mar. 



■■.■k(..7*.l-4U- J A J 
la^(...19'21 J AD! 971,0. 

4(...19-.:i M A M 32 b.{38%lUy 
..1037 J A J, I 43 a. tSS Ju£ 
... .1910 J A DI 85 a. 86 

Conaat-Sf ^1939 A A O 40 44 

or».k.*ilaT.C^-lat.6g.l009J A J 109 V». 106% JmI 

(-oaaoL.6c 1»S5;J A D't 04 >. m Jn!! 

Peon. Olkr *9 ^> aonpon. 1931 J A Jril2%b. ioe%Jan. 
" ;.1»20'J A J lux b. 02 Foil, 
".(•-•o M A al 10-J4b. 



Pm>. DMk •■viMT. -a (. 19-. 
KraMf . ttvMaa. • « . I <.>^ 



FkU^TaSt-lfn, 4 .^^ .J 

I latpHilM8«%S(. 

8d fnpMMaa, 5 ( ij:>- . 

3d mS teaaaM, 9 f I95m,.. 

mub«i*WaatarD— 4C.1917 J A 
KtoUf. Wjilw-lat.4 6-1939 J A 



at. Jo. * Off. Ulnad-ag:. iri5 M 4i M 
rr.-«(..GLai90t> M A M 



< ...CiMiO .1906 MAM 

(ieaani ■afHaga. a«..1931 J A J 

i'uaa.(aar. «a,« 1MK> A A O 

I. aoi Waak-Iav 4a. cieau M A H 

.:.!. te, «j laooaa 1989 J A J 

: P.I(JhlL-IMkJU..6(.1910M* M 
lat«aMaL,*iL— ^ las^lJ A J 



ta4%|L J * J 
,4 (.1917 J A D 



i>anAat.AJLP.— 1< 
Ml. ria.A W«>L 
»a. t'ar.AO*.— Ut 
-H>. PlJ^ 
M. PaaMikGM. 
lat 

Mk»., aa.l90t J A J 
K. Tana. i«orc. Una 4.aa. 193s M A ^ 
K. r. V.*U.-lit.7«...190uJ A J 
CVoa.3(. U»oM* !l 



SSSlj: 



J A J 
. A A O 
•MAM 

l9«M-lu.J A J 

1905- U A A u 

...19J7.A A U 

..1911 J A J 



35 b. 

32% 

90% 

> M b. 

TO% 
69 
lis kk 

lu a. 
IOC a. 

al a. 

ao 

87% 

uo% 



93 .Mar. 

25 Fab. 

67 Jan. 

18% Mar. 
9^ Mar. 
•%Mar. 

•0 Apr. 

fS Jao. 
• il Fab. 
111% Apr. 
Ill Mar. 
109 Jan. 

49 

63 Jan. 

16% Jaa 
115 May 
ll.'>%Mar. 
IUU% Jan. 

81% Apr. 

53 Jan. 
Jan. 



131 

147% June 

9»%June 

•;^ May 

^ Jaa 

Jan. 

Apr. 

4 June 

4 May 

7t June 

4) June 

89 June 

149 Mar 

150 Apr. 
41 May 

105% June 

109 June 

96 Jaa. 

&3% Aur. 

• 44 May 

June :100% Mac 

Mar M Mar. 

• 'll3%Juna 

(90 June 

lltt%J ine 

lul .May 

102 4 Juue 

35% Mar 

79 Mtr 

37% Mar 

84% Mar 

18% Mar 

6a%juM 

7-<% June 
IU3%Mar 
115% Mar 
116 Jaa. 
112 June 



Car. 64 Jaa. 

aa. 8t»%Jiuie 
aa k«8 June 
lay niH^July 



103% 

90 %b. 

65% 
113 

07% ' 95 

97 a.; 86 

110%b. 109% Jan. 



'.ruralafack UtS6*,«.ir22 J A Jl 
KMUT.*0MaU*«t,(.1926 J A J 
Ki«fe.*MBV.ooa.«a,«.i9n J A J 
WaatJMkUwaaMsa.aiiufl914J A J 

Traa.aLAlty. Taa.D..Tat,a g A A Uj 
BlnatMaaaOlT..6c...l9l7 J A j' 

rniaaAFMUa- lal,5(..300i' J AD 



93 
lOi b, 

Oil 

92% 
HI a 
10U%b. 
1124 
1114 

ll-.l4b. 118 
11 1 b. lue 
b. "" 
b. 



H.L. . 

Klafe.* 

WaaOMkUwaaMSa.ais(1914J A J 

91 

04 

- , 93 

J'U laaaaMk a & ...30U>- Mareii 31 

L Aaa Ar. A S. M.— 6 «. 192> M A .M I 7u b 
.^.ad«*OhloOaat.-5 (.193.' J A J Ho b. 
raL8kU*ICaa.U-««..191o J A D I 71 b. 
taleaPaaiaa— •4....M ..1S9H J A J, 10U<t 
KaVitakla|taa4,a mw M A a 95 b., 



*» Feb. 

99%Jaa 

a4%Jaa. 

79% Feb. 
1114 Feb. 
1V2 4 Fab. 
107% Mar. 
1114 Mar. 
' Jaa. 
Feb. 

77 Jan. 

78 Mar. 
83% Jan. 
81% Jaa. 

1 7ti Mar. 
107% Feb. 

57 Faa. 

lu3%Mar. 
89 Mar. 



94 

110 



110 
ItO 
115 



Ool l ala n il tXW. 41 t91aMAM»43 139 Apr. 

Uel6flt«aLiraatautaa.l«0t,F A aI 97 | 83 Fab 
.PM.-Uaa.DtT.,a(.ia9«M A H' 1044b. 103% Mai 



lM n aa i l . .6« 1V19 M A .<< 

oiiAiaaaiitiTna ef..i922 f a a 

• >r2UAUt'bM.— Uaai«.1919 A A U 

i;.P.D«B.4bUaU.aoa-»s.ir39,J A D 

^ OaM.-Ut«<i..lf >„1934;j A J 

■ irKtalaMM — t»«a,ll.,5a.l9aa M A M 

Wa b aaa lal,aa 1939 MA M 

34aWMaM|Bg. 1980 F A A, 

■«MV«.T.A?^-lat.8c,ta37 J A jj 
M laatlpae treat raeaa. 1937 A A Oi 
■«l. OaTTS.— UuL ». Sa.1938 J A J 

Alaa.OaaaeiOw— iat.5 <..1»37 J A j| 



71%b. 
9-<-, 
40 b. 
40 
3h% 
•lot b. 

107% 
76 •» 

10!« 

iiw 

55 



63 Feb 

88 Jaa. 

89 Feb. 
33 Feb. 
35% Juue 
91% Feu. 

104% May 
63% Feb. 
109% Jan. 
l3S%Jan. 
a. 106 Jan. 
I 44 Mar. 



Iv3 .. June 
IO.'i% Juue 

00 Mar 

68 Juna 
117 Jaa. 

98 Jaa. 
10i%Juaa 
112 June 
July 
Juna 

911 4 Juna 

93 July 
Juna 
Juna 
Juna 

ll5%Juna 

12i4Juna 

110% June 

a^ June 

90 June 

94 Mar 

31 ^a Mar 
183 Jul 
112% Juna 

73 Juna 
107 Juaa 

9« Jaa. 
146 Mar 

97 June 
100 Juno 

78 Jaa. 
1U2% May 

53 Mar 

43 Mar 

64 Jan. 
103 Juna 
108% Juaa 

78% Juaa 
110 Juna 
1 31 Apr. 
1114JuDe 

tt7^aMay 



BoTB.-" b " ia4laat*a fclaa I 



/ tiM na6* la maile up trom 



•alaa oalr. * Lateat prlea Ihia week, t Tnut reoel y tfc 



AKW IVKA STUCA BXCHAAfiB PRlCB(»-(CoattaaB«|.-I2M0777« BOSDO-JVLY S. 



«M.-UBinBB. 



«aitr«a« 



AUb>«a MM.-lft.c.,oar..lM8 

• - ^' --•d.ta.OkMBB.lfM 

"^ lat.«a liia 



A. T. a a r 

C bMa«a A at. Um 

AU 
Wr4U rr* 



ino 

1007 

19lt> 

H tOIK 



iW 



6auuiu'riKs. 



BaltAOfclo-Aa. >.0 1M8 

... awri.. gold, .V 1966 

ar. Va. A <'ltta.-I*t. * . .VI..1990 
K A0.8. «.. lat.(.. i'««...19 
Maaaa-BiTtr. laiit ,.f '••...loia 
JaamohlaBeor.-i- «%• laaoi 
Ak.AOa.Jaar ;-" ">■" 

•a<»idaAB I 



•HI 
■113 

•1041, 

•M2 
■4 
^7«i 



83 



BBcuBima. 



Boob. A Pitta. -Oen.,Sa.l08? 

r..lat.aa 1931 

^ APltta.-Onn«.lat,6a.l<»33 
But. A8«u<ioeb.-l«t.!i. i{..igi3 
Marl Oed. nap. AMo.— lat,»a.liMM 
OaaaoL A oollat. tnut, 5a. . . 1 984 
Klaa' A at. t>-l*i, 7a, ffa..l037 
Iowa O. A Waat. - 1 at, 7* . . . . 1 900 
'%d. Rap. I. ' A 1(..l<it <t* la^ ' 



•97% 100 


123 


135 


11>I% 




•95 





106 


107 


•••• • 





•103 



108 



22 



THE (CHRONICLE. 



(Vol; LXI. 



VR»» HiK*. sroOlt BtOUANWB eUlCiS.— Iff AOTIf^B aOffD3—rOontinuedJ—JULY 5. 



SBODBrriKD. 



Hid. 



O'OUo— Ool.A01Ii.M.lst,4><«.ie3( 

OMt.BB.4 B*IilL-Col r.5».lM'. 

OmL o( N. J.— Coot, ileb., ea.lMi; 

Uaatial raeltto— Oold bd*,6», 1886 

Gold bond*, 6« X8J6 

Oo4d bonds, 6s 1887 

Ban JouolD Br.,6« 1900 

Mort. fold6» 1»3» 

Lmail (nuit,&s,K 1(*00 

0«l. *0. lJlT.,eit.,». 9»...1918 

WhV Paelflo— Boaa(,es....l899 

■o. Ballwkjr (C»l.)-lit,a«.1907 

ftO-roM^ 6» 198** 

Otas. A O.— Pur. M. Mnil, Us. 1898 
. nl« Vnllov-lst, g., 58.. -.1940 
Wnnn Spr. Vsl., 1st, g. 5s. .1941 

.■•.0.*Bo.West.-lst6s,g.l9ll 

id,6i 1911 

Jh. V.-G«n.oon.lst,gu.g,88. 1 988 

O OMfoAAlton-e. K.,6s....l9OT 
■.OQU. A Mo. BlTCr— 1st, 78.1900 

«d, 7s 1900 

8 ^ L. Jsoks. 4Chlo.-2d, 7s 1898 
M1U.B. Brldge-lst, s. f ., 8».1912 

Ob e. Burl. A Nor.— Ist, fts.... 1926 
Dsbantunes :--}896 

Ch 0. Burling. A 0.-58, 8. t..l901 
lovs OlT.— Sink, fund, 5s. .1919 

Sinking fund, 4a 1919 

iT»ln,4». 1921 

Chicago A Iowa Dlv.— 88...1908 

CdIo. a Indiana Coal— Ist 58.1936 

cut. MU. A 8U P.— l8t,8s,P.D.1898 

•d.7S-10s, P.D 1898 

Ut,7s,$g.,K.D 1902 

1<1,[. A a., 7s 1897 

l«, I. A 1>.,78 1899 

lit ,0. A M.. 78 1903 

lit, I. A D. Eitenslon, 7b. ..1908 

Ist, La a A DST., 5s 1919 

in,H. A D..7S 1910 

l*t,H. A D.,58 1910 

OUigago A Padflo Dlv., 68. . 1910 

l(lDeralJ>61nt DlT. 5s 1910 

0. A I*8np. Dlv., 58 1921 

fftego A Bouth., 68, Amu... 1924 

Ise. oonv. sink, fund, 58 1916 

.jacoiaAOt. South., 5b.. ..1916 
«1L A Hor. main Iln6-€B...1910 

9ilo.ANorw.— 30-Teardeb.58.r821 
•Moanaba A L. 8. let, 6s.. ..1901 
uesH. A Minn.— Ist, 7e.... 1907 

r»wa Midland— l8t, 8b 1900 

Psnlnsola— 1st, conv., 78...1898 
Ohio. A Milwaukee— Ist, 78.1898 

(Tin. A St. P.— 2d, 7b 1907 

AlLAMad.- m. 6« 1905 

Ott, C. F. A 8t. P.— iBt, 58. 1909 

lioTthem III.— iBt, 5b 1910 

MU. h. 8. AW.-Con.deb. ,5b . 1907 

Mloh. Dlv., Ist, 6s 1924 

Ashland Division— 1st, 68 1925 

Ch.B.I.AP— D.M.Af.D.l8t4s.l90S 

ist, 2>a8 1905 

Extension, 4s 1905 

Kmkuk A Des M.— Iat,5e..l923 

Chlo. at. P. A Minn.— lst,68. ..191g 
BV Paul A8. C— lat, 6e 1919 

Ubio. A W. Ind.— Ist, s. f., 6b. 1919 
Ueneral mortgage, 68 1932 

Obi Ham. AD.— Con. 8.t., 78.1905 

«d, gold, 4>«e l'J37 

Cln. D. A Ir'n— iBt, gu. 58,g,1941 

Clev. Ak. A Col.— Eq. A 2d 6b. 1930 

O.O.C. A St. L.,Calro dlv.—is, 1939 
8(.Loa.Dly.— l8tooLt«'t4s,g. 1990 
epnng.ACoLDlv.— lst,g.4s. 1940 
imteW.VaLDIv.— lst,g. 48. 1940 
Cln.Wab.AM.01v.— l8t,g.48.1991 
tin. I. St. L. A C— lst,g.,48.1936 

CVinsol , 68 1920 

0'n.8an.ACl.— Con.lBt,g.6s, 1928 
.Col.Oln. A Ind.— l8t, 78,8.t.l899 

Oonaol. sink, fund, 7a 1914 

01n.A8pr.— l8t,C.C.0.AI.78.1901 

Oteve. Lorain A Wlu— ist, 58.1933 

Oeve AMati. v.— Gold, 58...1938 

Oulum,A9th Ave.,lBt,g.6B,gu.I9U3 

Del. back. AW.— Mort, 7b.... 1907 
Bvra. Bing. A M. Y.— Ist, 78.190b 

Morris A JEssex— 1st, 7s 1914 

Bonos, 7s 1900 

Tiof 1871 1901 

1st. con., gnar., 78 1915 

Warren -2d,7s 1900 

D All .Can.— Pa. Dlv. ,oonp.7s. 1917 
A»any A Suaq.— 1st, {|tt:,7a 1906 

lit,oona., guar., 68 l»o« 

Beas. A Bar.- 1st, coup., 7a.l92i 

!)•■». Tramway— CouH. 68, g. 1910 
MettopoL By.— lat.KU. g.68.1911 

Danv. A B. O.— tmp.,K., 5s.. .1928 

Det-M. A M.-U g. S'ts.ser.A.lSll 

Oolnth A Iron Baage— Ist 58.1937 



9i>8 

112 
'100 
101% 
102 
106 

■95 
103 
103 



•92 
lo5 



110 

•47 

lis" 

114>« 

109 



106 
105 
■95 
105 
108 

99 

90 
•107 

il3)4 



122 



•izl 
*12S 
♦108 
123 >t 

103 ■« 
•11B>4 

104 >s 
105 



105 
118 



120 

118% 



1897 
..1919 
..1923 

..1920 

..1928 

1920 

1908 



■rle-lai, extended, 7b. 

20, extended, Sa. 

31, extended, iias.... 
4ch, extended, 58..... 

5 Ji. extended, 4s 

l*t, con., g., I'd, 7s .. 
Beorg., 1st lien, 6s... 
B. «. Y. A E.-iBt,7s....;::i9i6 
•.Y.L.l!..AW.— Fnd.oon. 6S.1969 

£»'i tf'iJ'Hl «»■■ 1922 

Ban. A 8. W.— Mortg. 6s 19O8 

i^?'!°^^^'i- «"• «• *• —.1909 
OlMaABB.-«a 1922 

DoekAUnpt.,l8t68,cur-oy.l9i3 
X 'ans. A T.fl.— lsl,cons.,68. .1921 

iU, gennral, g., Ss 1942 

Mt. Vernon 1st 6s 1923 

SnlOo. Br. 1st, g., 58 1930 

SvaiU. AIndlan.— Ist, cons. .1926 
« nt A p. Maro.— Mnrf.. fin 1920 



loss 

ili' 



107 



127 



101 
129 Hi 

129 
♦107 
♦lib"* 

118% 
♦100 

105 

"is 
94 



90 
1)6% 



110 
112 



107% 

ii'6' 

130% 
'127 

141% 
'il4 

118 

140 

lis 

143 

127% 
119% 
•143 



, 20 
96 
108 
115% 
109 
115 
100 

iio' 

133 

io6' 

■•ioi' 

♦io6" 
110% 



116 



1,16 



108 
00 



123% 



106 



62% 



130% 



90 



116% 
108% 

iY6% 



142 



SBOUBinm. 



141 



146% 
li9ia 



86 
25 
97 



102 
134 



111 



112 



95 



F.AP.Marq. at non. gold, 5a. 1939 

<*ort Bun>n— lal, 58 1939 

r.a. Cen A Pen.— lat g. 5s.... 19 18 

Istron. g., 5» 1943 

rt. Worth A K. O.— 1st g., 5B..1928 
Gal. Bar. A8»n Ant.— Ist, 6a. 1910 

2d mort.. 78 1905 

Qa. Car. A Nor.— lat, gu. Ss, g.l929 
Grand Bap. AInd.— Qen. 5s.. 1924 
G B. W. ASt. P.— lat, con. 58.1911 

2d inc. 4s 1906 

Housatonio— Oons. gold 5s — 1937 

N. Haven ADerby, Oon8.58..1918 

Uous. AT. C— Waco A N. 7s.. 1903 

1st g., 88 (Int. gtd) 1937 

Cons. K. 68 (tut. gtd) 1912 

Debent. 68, prin. A int. gtd.1897 

Debent. 48, prln. A Int. gtd.lM97 

nilnolB Central— iBt, g., 4s . ..1951 

Ist. gold, 3%s 1951 

Gold 4s 19.i2 

Cairo Brldge-48 ig.'iO 

Bprlngf. Dlv.— Coup., 68 1898 

Middle Dlv.-Reg^ 58 1921 

0. St. L. AN. O— Ten. 1., 78. 1897 

Ist, consol., 79 1897 

Gold, 58, coupon 1951 

Memp. Dlv., Istg. 4b 1951 

Oed. Falls A Mluu.— Ist, 7s. .1907 
Ind. D. A Spr.— lat 78, ex. op. 1906 
Ind.D.AW.— 2d, 58, g.,tr.rec. . 1948 
Ind. nia. & Iowa.— Ist, g, 48.. 1939 

Ist, ext,K. 58 1943 

Int. & U. N'u.- 3il, 48, g .... 1921 
Kings Co.-F.El.,l8t,5,g.,gu.A.1929 
Lake Erie A West.- 2d g., 58.1941 
L.S.AM.80U.— B.&E.— New78.'98 

Det. M. AT.— Ist, 78 1906 

LakeShore— Dlv. bonds, 7s. 1899 
Kal. All. A G. R.— l8t gu. 59.1938 
Mahon'g Coal RR.— Ist, 5s. 1934 
Lehigh V.,i<.Y.— Ist gu.g.4%8.1940 
Lehigh V.Term.-lBtgu.oB.g. 1941 
Lehigh V'y Coal- I8t58,gu.g.l933 
Lex Ave.&Pa.Fy.,l8t,g.58,gu.l993 
1 Jtchf. Car.A West.- lBt68. g.l916 
Little Rock A M.— Ist, 58, g..l9J7 

Long Island- let, 78 1898 

Ferry, Ist, g., 4%8 192j 

Gold 48 1932 

N. Y. A R'way B.— l8t,g. 58.1927 

2d mortg., Ino 1927 

N.Y.&.Man. Beach.— iBt, 78, 1897 
N.Y.B.iiM.B.— lBtoon.58,g.l935 
Brookl'n&Montauk- l8t,68. 1911 

Ist, 58 1911 

No. Shore Br.— Istoon.58,g.l932 

Loul8.Lvaa8.& St. L.— Con.Ss. 1939 

Louis. ANash.- Cecil. Br. 78.. 1907 

E. H. & Nash.- Ist 68, g....l919 

Fensacola Division, 68 1920 

at. Louis Division, let, 68... 1921 

2d, 3b 1980 

Nashv. A Decatur— Ist, 78.. 1900 

B. f.,68.— 8. A N. Ala 1910 

10-40, gold, 68 1924 

60year58, g., 1937 

Pens. A At.- lat, 6s, gold... 1921 

Collat. trust, 58, g 1931 

Loa.N.Alb.ACli.— Gen.m.g.58.1940 
Memphis A Charl.— 68, gold. .1924 

iBtcon. Tenn lien, 78 1915 

Mexican Cent. Consol.— 48, g.l911 

1st, COU8. income 3b, g 1939 

Mex. International— Ist, 48,g.l942 
Mexican National— Ist, g.,6s.l927 

2d, income, 6s, "A" 1917 

2d, income, 68, " B" 1917 

Michigan Central— 68 1909 

Coupon, 58 1931 

Mortgage 48 1940 

Bat.C.&8lrgi8.— Ist,3s,g.gu.l989 

Minn.A St. L.— 1st, g. 78 1927 

Iowa Extension, lBt,7B 1909 

Southwest Ext.— l8t, 78 1910 

Pacillc Ext.- Ist, 6b 1921 

Mo.K.ATex.— Ist, ext., Ss, g.l9i4 

Mo.K.AT.otTox.l»l,gu.6a.g.l»42 

Kansas City A P., lBt,4B,g..l990 

Dal. & Waco— let, 58, gu.... 1940 

Mlasouri Pacillc- Trust 58...1917 

Ist coll., 5s, g 1920 

St L.&I. M.-Ark. Br., l8t, 78.1895 
Mobile A Ohio— let ext., 6b.. .1927 

St. L. ACairo— Is, guar 1931 

Morgan's La. A T.— Ist, 68 1920 

let, 7s 1918 

Naah. Chat. A St. L.— 2d, 6s.. 1901 
N. O. A. No. L. -Pr. 1., g., 68.. 1915 

N. Y. Central.- Deb. g. 48 1905 

N. J. June— Guar, let, 48... 1986 

Beech Creek- iBt.gold, 48. .1936 

Oew. A Kouie— 2d,58,g.,gu.l915 

UMca Ji Bl. Riv.— 48, g., gu.l922 

N. Y. A Put.— 1st, g., 4«. gu.l993 

H. y. N. H. A H.— let, reff Is. 1903 

N. Y. & Northern— let, g. 58.. 192' 

». Y. Susq. A West.— 2d, 4%s. 193' 

Gen. mort., 5s, 11 i»40 

Wllk.Ai East — l8t,gtd.,g.5s.l942 
Noruiuru fac— liiviU u scrip exi 
James River Val.— let, (98...193h 

Spokane A Pal.— 1st, 6b 1936 

Bt.Paul A N. P.-Uen., 68..192.J 
HeleuaAlioilM'u— l8t,g.,68. 1937 
DuluthJiMunitoba— l8l,g.6Hl936 
Dul.AMan Dak.Div.— Ist6s.l937 
OcBurd'Alene—l8t,6e, gold. 1916 

Qen.lel,g.,68 1938 

OenUWashingion- l8t,g.,68.1938 
Noriolk A South'n- Ist, Sa.g 1941 
Norfolk A West — General, 68 . 1931 

New Blver 1st, 6b 1932 

Imp. A Ext., 68. 1934 



Bid. 


ASk. 


•91 






90 


•105 




56% 


60 >• 


•101% 


.... 


•103% 


.... 










3% 


6 


120 




113 




120 






108 


85 


90 


73 


84 


♦101 




102 


103 






102 




111 




107% 




107% 




•117 






1U3 


■120 









' 


84 




96 


32 


3ft 


♦71% 




103 


104 


10.^'. 




12708 


128% 


112t 




■Ills 




•114'e 


., 


lu2 


102% 


•110 




110 


iioH 






109 






94% 






37% 


48 


100 


103 


101 








102 




38 




11)8% 




110 




105 


113 


•124 




65 




110% 




108 




100% 




♦95 


loo 


'102 




*103% 




• 


■75% 






lOJ 


116 










♦ 


38 


...... 




118% 




•117% 




102 




139 




'Vi3 


124% 


•118 



'91% 



87% 
75% 
87 
♦80 

io2" 

•83" 
109 
129 
101 
'103 
103 
100 
105 



102 

104 

'iT8% 
"s'i" 

86 
60 



120 

•77% 



106 
113 



87'6 

76% 

88 

85 

811 



120 
81 



90 

so" 



SKGUBITIBB. 



• Mo prloe Friday: these are the latest qoataUons made thU week. Vor auaelli 



Norf .A W.— idiustment M., 7al924 

Equipment, 5s 1908 

Cllnrh Val. Ist 5s 1957 

BoauokeASo.- lat.gu. 5s, g.l922 
Soioto Val. A N. E.— lRt,48,.1990 

Ohio A MIss-Coosol. 7b 1898 

2doonaol. 78 1911 

Spring.Div.— Iet78 1905 

General 59 1932 

Ohio Blver KB.— lat, 58 1936 

Gen. g.,5e 1937 

Oregon A Califor.— Ist, 58, g.l927 
Oreg. Ry A Nav.— Col.tr. g..5B.1919 
Penn-P.C.C.A8t.L.Cn.g.4%8A1940 

Do do Series B 

P.C.A8.L.-lBt,0.,78 1900 

Pitts. Ft. W. A C.— let, 78... 1912 

2(1, 7s 1912 

Sd, 78 1912 

Ch.8t. L. AP.— l8t,oon.5s,g. . . 1932 
Olev. A P.— Cons., 8. fd., 78.1900 

Gen. 4%8, g., "A" 1942 

at. L.V. AT.H.— lBt,68.,7s.l897 

2d, 78 1898 

2d, guar., 78 1898 

Gd.R.AI.Ext.— I8t,4%s,0.g.l941 

Peo.AE.-Ind.B.AW.-l8t,pf.'?8.1900 

Ohio Ind.AW.— l8tpref.58..1938 

Peoria A Pek. Union— let, 69 .1921 

2d mortg., 4^8 1921 

PitU. Cleve. A Tol.— Ist, 68... 1922 
Pitts. AL. Er.— 2d g. 5a, "A". 1928 

Pitts. Mo. K. A Y.— let 68 1932 

Pitts. Painsv. A F.— Ist, 5s. ..1916 
Pitts. Shen. & L.E.— l8t,g.,58.1940 

lat cousol. 5s 1943 

Pitts. & West.— M. 58, g.l891- 1941 
Pitts.Y'gst'n&A.- l8t,5s,oon.l927 
Bio Grande 80.— Ist, g., 58... 1940 

St. Jos. A Gr. Is.— 2d inc 1925 

Kan. C. A Omaha— let, Ss..l927 

St. L. A. A T. H.— Term. 56. .1914 

Bellev. A 80. lU.— Isi, 8e...i89b 

Bellev. & Car.— let, 6s 19'33 

Chi.St.L. APad.— l8t,gd.g.58 1917 

St. Louis 80.— lat, gd. g. 48.1931 

do 2dlncome,5e.l931 

Car. A Shawt.- lat g. 48 1932 

8t. L. A 8. F.— 2d 68, g., ol. A. 190b 

General 58 1931 

l8t, truat, gold, 58 1987 

Kan. City A 8.— let, 6e, g...l91b 

Ft. 8. A V. B. Bg. -let, 68. . . 191C 

Kansas Midland— Ist, 4s. g.l937 

St. Paul City Ky, con. 5b, g. . . li<37 

Gold DB, guar 1937 

St. Paul ADuiuih- lBt,58 i9aJ 

2d mortgage 5e 1917 

St. Paul Minu A M.— Ist, 7»..190!' 

2d mort., 68 190t< 

Minneau. Union— Ist, 68 192'., 

Mout. Cfeu.— let, guar., 6a.. 1937 

lat guar. g. 5s 1937 

East. Minn., 1st dlv. Ist5a.l90t! 

WUmar ASiouxF.— let, g,58.19i 

San Fran. A N. P.— 1st, g., .^s.iyiit 

Southern— Ala. Cent., Ist6e.l91e 

Atl. A Char.— lot, prel., 7b. .1897 

Income, 68 190( 

Colum. AGreeu.— lat, 5-be.i91b 
E. •fnn. V. dH+a.— Ul 'iJ.ia l9Ji 
Kich.A Dan.— Eq. s. I. g. 58.l9o9 

Ueben. 5s, stamped 192; 

Vlr'a Mid. — Serial aer.A, 68.190b 

Setiea B, 68 1911 

Seiies 0,68 1916 

Series D, 4-5s 192i 

Seiles E. 5e 192b 

Series F, 5s 1931 

Waeh.O. AW.— 1st our.gu.4B.192i 
Ter. KR. As'n of 8t.L.-l8t,4%8. 1 931- 

Ist. con. g. 58 1891-1941 

et.L.Mer.Br.l'orm ,g.08,gu..i93u 
Texas AiNew Orieauo— lai.,/b.ib05 

Sabine Division, iBt, 68 1912 

Cuueol. 38, g <-... 1943 

Tex. A Pac, E. U.— lat, g. 6a.lt)0D 
Third Avenue (N.Y).— Ist 6a, 1937 

Xol. A. A. A Cad.— 68 1917 

Toledo A. A. Ji O'd Tr.- «. 68.1921 

Tol. A. A. AMt. Pi.— 6s 19iy 

Tol. A. A. A N. M.— 5e, g 194i.i 

T.AO.C— Kan.A M., Mort. 46.1990 
Tol.P.AW.— iel48,uio.r'd.oou.July 
Ulster ifeDel.— Ist, oou.,6.,08.192e 

Union PaoiUo— let, 68 ....189b 

1st, 68 1897 

Ist, 6s 1899 

Collaieral Trust, 68 190e 

CoUa'oral Trust, 5e 1907 

Kan-ao Pacllio— let 6b, g... 1895 

let, 68, g I8»b 

0. Br. U. V -F. 0., 7s 1895 

Atch. Col. A Pac.— l8l, 6s... 1905 
Atch. J. Vo. A W.— 1st, 6S...190S 
U. P. Liu. A Col.- l8t,g.,d8. 1918 
Oreg.8.L.& U.N.,col.tr8t.,08. 1919 

Utah A North.— 1st, 78 190s 

Gold, 5a 192b 

Utah Southern— Gen., 7b ..1909 

Exten., Ist, 78 1909 

Valley R'y Co. of O.— Con. 68.1921 
Wabash- 

Debenture, Scr. A 1939 

Debenture, Seriee B 1939 

Del. <»Cluo. Ext. 1st, 58. g..l940 

8t L.K.C.AN.— K.E.dtRK.78.1893 

at.CharlesBr'ge— Ist.bs. . .1908 

West N.Y.A Pa.,gen.g. 2-3-48 1943 

Income 5a li»43 

Wosu Va. 0. APltte.— lot, 6a.l»ll 
Wheei.AL.E.— let. 58, gold... 1926 

Extension A Imp, g., 5e iKcO 

Wis. Cent, income 5a 1937 



Bid. 



75 

...3.. 

8? 
106 



80 

82 

i09% 
109% 

130 
136 

129 
116 
117 
110 



110 



112 
65 



85% 



104 
104 
100 

100 

85 

60 
'80 
lis 

93% 

82 

100" 



112% 
9 = % 
99 



82% 
121" 



112 



88 



90 



94% 
82% 



104 


106 


llO 




119'6 


120 


116 


^ 


115 


110% 


102% 





114 



102 
100 



85 



loo 




•98 




103 








110 














122 




69 


79 




*6i 








79 


80 


7.i 




lOL 




106% 




106% 




107 


>•■.•« 


94 


98 


74 


. ■ ■ . *• 


100% 


..... 


107% 


107% 


40 


42% 




.....a 


40 


.•■>. 


27 




loo 




...» 




65 




65 






— — 






•i7 


29% 


96% 


9;% 


103*8 


lu3% 


106 


--.. 


45% 


46% 




18% 


108 


liO 


103% 


104 




»2 



neoua an«t Oaliaiea isouiia.— See 3a page preoeduig. 



I 



JCLT 8, 1893.1 



THE CHEONICLE. 



23 



Inucstmcut 

AMD 

I>aiIroad |ntelligeuce. 

RAILROAD EARNINGS. 

The followir ., , . . 

,Sial>>8 railroad- 

for the UtMt i> ...^ ...v 

road from wh^ kly or monthly rntunn c»n t..- 

obcaineil. The nmnsof titnires ri^e the gross 

eaniDK^ for tb« iauau wurk or mootb, and the last (wo col- 
nniD* tlie pamings for tb« calendar year frou January t to 
•nd incJudins meb la'mt ir«rk or mootb. 



WmkfMo\ 188ft. 



....April.... 
1... Jaaoarjr. 

Mtkrmalmmi... AprU.... 
Atek.T.Att.Ka SdwkJaBa 
KUASasF 3<lirkjiiaa 



AtUatteACac 
Am.lolai.. 

Atuatm* W. P April i 

Allaa. A Dasr.. ttbwkJ'usi 
AwOa * irwn« Mar ... I 
&M>.£artU0M Mar 



• 

11.181 

47.040 

116.001 

•JiTT 

1OU063 



Jmn.HoLaim Dolt 



adwkJuae^ 77.143 
MwkJaae •W.714 



«Mtll 

9.WM 

■OiMT 



WaMamUaMMar i 41J.70A 



i.37a.Mtij7sjoa MaMi 



TMal .Vay 

0.a — '■-. 4ii>wkJ'D«; 

■aa»ir>>riiint Aprti 

•MkABaB'aikAprtl 

BT* AUaatle.. Maj. 
•loaklra ia«T. . -(ttiirkJ'ur 
BrwMVkaWMt Jaaoarr.. .' 
•■AaMLAPItt 4lAwkJ-aH 
~^^OLSa«i.Aii lUwkJ'S 

idMAAU . Afrtl I 

!(tawkJ'a*| 
Mar 



1.790.697 

110,4S4 

70.1 

1.031 

1.S3A 

M.twO 

44.01 « 

— -,« 



te.MM 
Omxat 



S.01I 



1894. 

»~1 
104»«'t 
»7.131| 

l»d.3»31 
6.013! 

449.920' 

100.640 
«i.lM 

««a.7M 
SM18 

ta.148 



-1- 



1.61U.060 

US.W7S 

84,973 

1. "' 



1886. 

8 

67.S0O 

47.010 

9rt2,.'-' 

30.11 

ta.oio..-.' 

3.613.1 
1,773.3 
17.439. n 
180.37H 
361.331 
9 .209 



»»*» *?»? 



8>8i^ 
344457 

rjni 

6.661; 
IU36A; 



Uaorna April ' 8Sl.»ia 

••■.J.. M»f LOUS.)*. 

AprtJ 1,07V.' 

»«. Jaaaarr.-.l M.- . 

Oaaraw.A Dan. April V, 

.AOklo ... itawkXtw' 231/ 
kO.Aao.W . laiwkJaa 43,. > 

ate^aacAMa Mar. i 134,6^7, 

«*•?.* Q.Majr i.477,i01,3.»l«,j; 

Okla.ACaat.Ui 4lbwkJ-aa 64,-6-J I! 

AtaaaaAlMa May 

Okl»Ot.W«BrB. -JdvfeJaaa 

Ohla.MiL* m.p 4UwkJ-Ba 

OWa,*rtaw^. Ma;. . 

Otta.rmM»Ll. 3d«kJ 

0Ma.»kL4kr,.Juo« 



ljj,j. 



•84.4*8 

a««oi.4a8 8,-. 



I64iJ78 1 



a6a,«.rjt,AU. May. ... 
Cita.*W.MIafe ,34wkJii 
LOkLAUUMarak.. 
Ma/.... 

. April I 

. UkwkJ-aai 

Ota. *.0. A T. r. la« vkJ'aJ 

ll.Ort.AII. K. Ut wkJ-arl 
Aia.A Vlokaa tatwkj'aa! 
TVAa.Mfe.*r latwKj no' 

9a> rmm, A V . May. . . 



ftl6.1«- 

18.1' 

T4.1.. 

».. 

1.- 

13.- 






VI>*.<hB,A8a.. 34wk J 

a,Cla,ClL*ai.L Jdwk J 

FMwABaara.'May 

aLor.*WlMal itAwkJ 

0M.6aa<]-TA H. SdwkJ 
OaiaaaALafea . May. .. 

Okyatal ... AprU... 

OaaaordVaUaj. April .. 
Oaar. A fU« lir. 4Ui « kj 
natlaaaf«A»o. 3<lwk Ji 
l*at. AMackl Bar April . 

atMar. .. 
>Mpria«a. April.. 
■vaM,A (B4'iE«'4lk wL. 
•vaaa. A IUah..f3<lwk Ji 
•raaar. A T. U ^ vkj'acl 
nadlaxn WAW Jaaaarr. 

rttatitnat May. . 

runtAP.Mar^ 34wkJ , 

FVtCDLA raolD I at wk Jaa 
ftW. A KloOr 34wkJ< 
. A Alt. < 



Omalk M. 
f«k<finaA.' 

««a,6a.A ru.. .^.j 

•r. ■•» A laa. 3ii«k Juaa 

Oa, a.A n.W. 3dwk Jaac 

tia»««aQtT. 34«k Jaaa 

Maa. O. R. A I. 34»k Joaa 

Tv%. aU aaa> 36wk Jane 

aiaa6 Tmafc WkJuaaSSi 
Cfela.AUr.TT wkJuaa 1 
M£er.a.AM — 

•MBkllarWa- 
r.M.*M 

latMlaa. 



VkJuaa 



Mar. 
Miy 

, Mi- 
M 
M 
M.., 




**i 3 
H 8 



31tf.0W* 

"11,000 

lU/MW 

»3,77S 

tOJ.075 

Jiiv,a»7 

'I I «.343 
->9«.3i3 

.-..1 i.»7 
% 
I 



'J'i,»Ul 

I rS,Mi43 



iO.'J'il 

lo.lM 
4.«.'V4 

-♦.MU 



BOAOI. 



haiat Jar n f t f Bvarlatf. I Jan. 1 la .La<a(< OUa. 



Wae*arJra| 1885. | 1894. 



1895. 



8 

tJMaroo. (Maz.i WkJunelS 3M70 

iMraOantrai.... 4tawkJ'i>e 35.U)i3 

IMB Ball way... May 4,438 

Jaak.T.AK.W May 26,564 

Jaoieat'D A L. £. Aurtl 3J>78 

KaaawliaAMIcL Jjirkjime 8,32' 

K.aF.8oottAM. ydwkJonr 63,U17 

..aMem.ABlr. 3dwkJaiie 16.991 

.»a.aN. W.... May 18.618 

Kan.Ct Beat. May ! 377 

iv.C.PIttit.A(i. iikvkJ'ne' !>.829 

KaB.C.Sab. Belt ttJiwkJ'iiei lu.138 

Kaokok AWuit. aUwkJiuiei 6.006 

UfttaAll.Allo. May 6JE96 

UKrtoA Waat.. ^thwkj'nel 78.706 

A Hod.. Mat- I 99,371 

May I 863.141 



LaHa^AHa 
Loaaialaad. 



1894. I 

8 
53,Ib:< 

57.i:<i 



Loa.AB8.Tenii May 

Loala.BT.A8t.L. itbwkJ'ne 
I iwtw.AWaa>T. itbwkJ'ne 
Uiaia.a.A.ACk. 4tliwkJ°uf 
Ix>a.8t.L.AT«'X. .SdwkJuue 

.MaeonA Blrm.. May 

.Maalatlquak May 

MamplilaACIiaa. Mwk Juae 
leneaaOeut.. 4tbwkJ'iie 

' xxleaa Inttit'l May 

' — ■rational. <tbwkJ'ae 

<naem.. April 

iDB'way WkJiiDol.'i 

^rxtcBii 8o '.Jdvk Juoa 

liaaaap.A8t.L. itbwkJ'ae' 
'la,Kan. ATht ttbwkJ'ael 



11.562 

30.002 

50U.070 

"•i.lna 
■'.old 

l.^.S70l 



8 


9 > 


.50.950 


1,081.617 


33,725 


734.206 


2,6011 


21,529 


58.:<39 


319,465 


3,123 


11.617 


B,5ia 


201.748 


80,0 J 1 


1,988,430 


16,01(5 


454,009 


33.498 


91,23i 


1,084 


2,068 


10,410 


241,332 


7,657 


118,463 


6JS3 


14»,76U 


4.262 


32.839 


81,336 


1,670,828 


42.093 


181,856 


871,301 


1.306,443 


I3,rV7» 


74.410 


p..>-»i. 




4.-61 


30,975 


H,747l 


85.166 



■ 'I'l'.e Ji iiiriu 
loMlaA Ohio . _ 
! >Bt.AMax.air May 
*ah.Oh.ASt.U May 
'TadaOeatzai .V|imi 

I-AMo'B.May. . 

A H. B..{iiar. . 

. AOUo ^^- 
u* w 

•I.AV*- 



■fiwkj'np' 
I »kJ'n*' 
iiwkJ'u«i .'. 
i»t«kApti O.4.. 

Jub» 3>5.90 

10O.O.' 

; «68>. 

«6Ji^ 
' 6.90 
'1,606.0 
'2476.31 

A|>ril 519.9. 

4lliwkJ'b(< 

May 

'•ruary . 
.wkJ'ua 



-I'.SJJI 

J6,015 



1894. 



1,147,647 

813,964 

16,810 

434,664 

12,101 

164,924 

3,219,086 

471,209 

138,076 

5,243 

181,515 

108,801 

170.885 

38487 

1,503,135 

162,839 

1.358,164 

«5,.:25 

679\413 

9,218,413 

1,284,630 

183,797 

30,634 

20,217 

....... J 



210,497 

1,463,561 

335,234 

7H3.3I4 

4.17->.-.'.>4 

...... ^ 



rk Jaaa 

• r ' 

.ak Juaa 

> ACTiA. iljy ■ 

ilAarn. tibvkj'na' 
tSt.1. Marv-Ii I 



1»7,6. 
171,1.- 

8648b 

140.986' 

514441 

897,445 

1.737' 

17.836' 



S3401 

•81.498 

8484^ ^.t. 

.•,1S84«7^ 4447468 

184«S, 



ao,.:5- 

19143- 

43>>,463 

254.598 

3.489 

13.375 

18439 

17,178 

87,738 

•10440 

3,711 



I 
. ,< 

i-,.:39 

4,113 m,30«l,U3 
•i6>i B,430,l')0 
1487,546 
1.74t(.961 
713,003 



.\K>\ 



■4.355 
^'.059 

' •■,2'».") 



6.733,(111, 

9,096 

317.156 

74,359 

S38,99d 

87.330 

14«'' 



-^m 



i-u:u.AUea4'«.,M^y 1.7a9.t2- 

OaalAlr.Oa...Mar 1.778.97 

IMalkaUOaa, May. S,502 1 

' (ia,llar.A0h.>M«r 

tt8>»,tl K.,3JwkJana, 

UrikAVaat libwkJ-aW 

inM»g.ATM. 4tawkJ-aS 

Ptlia ra. A r. itb w kJ-aS 

TMaliyalaM.. 4UwuW 

ruknaacAA. May 

4alaMrU.AK.C May 

itWkrriHb,Ar. April 

- - -- May I 

3dwkJaaaL 

WaaTa. sdwkJuaai 

.^.jaaUAH May. ~ 

■aftVaLAaLL. Ajinl 

•CL A. A T. B. 3dwk Job* 

8t.L.Kaa'a4A8a. May | 

8t.U8oatAw-ra. 4tiivkJ'aai 

■<<.PaiUAUal-tb M.4y ' 

.n Aat.«A.r. May 

t-'ran.AN.Paa 24»kJuaa 
dAT. Aa. A Moa. '.Mirk JiuMi 
6av.f la. A Waac iaouary. . . 
aMUtaray.A 8u '2<lwk Juaa; 

OUTanaa. May 

So. raetSa Oo.-, 
OaLBar.ACA April. ...„ 

Lroais'a Waal.. April 

I'aLAT. April 

AMas. April I 

A».Orl.., April 

■ra.A. April 



14.57. 

430.134 
812,304 
27£6a8; 1,094.414! 
8.077440; 



8.901.106 

174ife.946| 15,189.098 



li,lUtf,(174 

13418 

8M,138 

71,108 

985,918 

1^1,235 



377,161 

831,219 

1,044,637 

7413.945 

7,870.858 




4..^ 

3441i| 
t9.8U 
•4.774J 

15S.3»l| 
80.118' 

•9,498 

•4>« 

48.000( 

•.846; 

7.451 

19.860I 

2.9811 

137.7001 

117.799; 

124,1831 

17,458 

7,159 

819.194 

4.9a« 

6.100 

•794«6 

•6474 

486.966 

374a6' 



April .. 
May.... 



1409409 

IM.S55 



«6438 

•914'^ 

87.137 

16.368 

813.101 
85,478 

U4.aoH 

13442 
8.338 

44U7 

•7,417 

8.310 



fcW.Taa May 884<)0 

J fk iu May 6,700 

Mil Glottal May 1400409 149747 

.OaaAWaM.,3dwkJun« 7.841 6.47 

. III. A la«a, April 66,071 A04.-, 

mfcllanA'aAttwkJna 71.198 63Ji« 



8i04if 

9944W 

900.1«a 

£0494 

•6461 

1.903.749 

7479,396 

1,118.019 

371,169 

603476 

»460,07lt 

17.253 

1V,768 

907479 

99,600 

■ ; -7; 

I 

1, 

1.7 1/, lid 



lafaU.. May. 

•a.Fao.afCal April 
iakfae.of Aru April 
fta.Paa.a(II.M April 
N'onkara By. ' 



9410| 

•.Oil 

61.9J8 

87.810 

19466 

•9418 

98.8 la 

6,900 

89.900 

8.063 

6 946 

17.580 

1.692 

•3400 

140,038 

101.2121 

16341 

7,134 

••9.6X7 

8,080 

9406 

•83.987 
8«.8l8 

A194S) 
•0.804 

':7e36 

■i 811 

r56 



16.718 
850.948 
7561731 
866.387 
145.948 
I4O74O6 
097414 

97.769 
991441 
132.900 
169.513 
9764il| 

45.1H8 

96.878 
086,480 

14.188 
9480,187 
486497 
744436 
315,243 
185.396 
819.124 
14),413 



13.617 
168,009 
005,085 
9r2,510 
196,633 
1413.858 



•8406 
984476 
188446 
148488 
9014S* 

43474 

27.389 
08S.84S 

11470 
1.9684M 
490.114 
568484 
819,618 
187,76* 
383.697 
11848* 



140^163 
387401< 

945»4I4| 

894681 

549,733 

4.681.684 

9.534.346 



1,289,193 
393413 

1.771,000 

71,990 

531.708 

4.018.409 

9 663408 



i.896i 17,7l>d.9W9i 17406,600 



ti. 



43,6o.'i 

1,0«6.437 

8436.824 

1,913440 

•85/163 

•407.319 

897,172 

048432 

4^2.. W 

1(1.634 

14.604 

164478 

46.763 

7,17H,»88 

15:.'.;i»4 

34 (J. 877 

141-).I70 



MaaiaL 

'>ayU.Af.'Mi 

4l.AArk.Blr. 
nuaali Braoob. 

l4lk.Val.ODal 

IMlboUUa'a 
CaxaaAPaalBa. 
t«s4.7alAaw 
rol.A.A.AXo.M. 
roLAOUoOaat. 
roLP.A Waat. 
roLauUAK.C 
Uatoa PaolDo- 

On. Pae. RR April. 

Or.8.L.AU. ■ April. 

8CJoa.A<»<l.U. April. 
Kaa.C.k<>ui April. 

Tot.4LJ.AO.I.|3<1wk Jiina 

Uiat.Br aUtbwkJ-ne 

Aah.OoLA P. (.„,., 

Ofd total 't'April 



April 

UhvkJ'aa 

AprU. 

April. 

April. 

May.. 

May.. 

May.. ^ 

4IA«kJ-ae 

May 

4thirkJ'Be 

4lbwkJ'Un 

3<lwk Juna 

(UwkJ'uai 



1. - 

U4479' 

•6«,031 

77,111 

1,618 

1,384 

108,004 

37.6401 

141.194 

115480 

8.0091 

80.451 

5.1.S1.V 

17.3itl| 

43,0631 



.:I.15U| 

Itl. 

37. . 

71.1'is 

9,098 

999 

85,584 

85,731 

171.310| 

142,493 

8,186 

99410 

05 332 

17.040 

84471 



I4M.944 1,104.983 
8«9,»49! 439,38 :•' 



41.915 

5.0.56 

10.gu9 

19,00U{ 

91,008 



72.741 
11.0.>2, 
16.283 
17.0(iv 

•4,858 



6fl4.<l8a l.>*!tl«.082 



3,113.IS9| 

790.307' 



^(o 1,00'^ I 

•.009 

OOiVlM; 
382 449, 
793.029 
3.074409; 
17409 
ai'3407| 
765.930, 
440,199 
790,498 

4.080.781 1 

1,881.908 

186.108 

23,213 

286.673 

8634»9| 

89,008^ 

B.242.77'?' 



3,111,103 

es't.oeg 

809.618 

673.155 

8,428.238 

840.508 



■ 878447 
337.837 
717.184 

8,9i9,7Sl 
17,9 JO 
510.700 
071,859 
884,437 
631,876 

4,299,90« 
1,582401 

384.388 

44,843 

455.130 

403,4U1 

130,941 

7.002.4^9 



24 



THE CHRONICLE. 



[Vol. LXIr 



Latai MtLmingi Reporua. \ Jan. 1 to Lalett Dale. 



WmkorMi 



Va. Pte.-fVm 

O.T»o. D. 4 O. April 

Ft WlhAD.a 4thirkApr. 
OMMAOel... M»y. ..... 

ytlTMii 4thwkJ*De 

WMOANorthw.'Aiirll... 

Waat Jenar April... 

W.T.Oai>.*FltMMa7. -■■ 
WMt Vs. * PttU. lUrcb . . 
WMMrn of Al*.. A|>ril... 

WMt lUrjlMid. May 

WmL N. Y. a F%. :i<lwk June 
Wk**L A L Bri« 4tli wkj'ne 
WlMODslD Cent SdwkJnue 
Wn«bUT.AT«n Mfty, 



1895. 



> 

S10,3S9! 
2I.SI1I 
as 460 

377.845 
15,8^0 

117.167 
(<9.e84 
30.119 
A5.8<>8 

100.761 
66,9i'0 
3H,117 

104,308 
7.963 



1894. 

313.668 
30,631 
31.698 

265.806 
13.37;^ 

112,935 
67,-21 
33,1 -9 
37,434 

100.351 

52,10« 

29.50 ) 

88,616 

4,h36 



1895. 


1894. 


• 


• 


879,066 


870,644 


364,169 


349,fl:<8 


1313'1 


1 36 51)3 


5,6(18.286 


5,337,498 


7«,840 


65.604 


390,661 


411.3S6 


404,352 


361.696 


74,268 


8 ,941 


1R6,43^ 


166.408 


459 753 


425.181 


1.401.683 


1,332.6 1 9 


590.489 


535.881 


'38,038 


'si'.eso 



• nsnrM c<*ei> do oot Inclode Oresnn Ry. A .Vav., Dn. Pao. Denver A 
•olf, UeDTnr tieadTllle A Oonnlun, Montana Union and Leavenwortb 
Top<>k» * Hoolh •Mtem. 

u Tbvae Bcurea loelade results 00 leaaed lines. 

* Include* e«mln(s from ferrlea, eus. . not given separately. :Mexl- 
••a oan«D«T. e Inolodes only hall of lines In wblob union Paolno has 
• half InMrest. 

btre«t BAllwayg and Traction Compaaies. 



3d »eelc of June. 



BurL Ced. Rap. A North 
Oleve Akron A Colombuf 
Clevo. Canton A Soath'n 
Onluth So. Shore A Atl 
Flint A Fere Marqiietts 
Can. Cltv Ft. B. A Mem. 
Kan. (Mty Hem. A BIrm.. 

Kau. City -Sub. Belt 

Keokuk A WeHtern 

IjoaisvlUe Ht. L. A Texas. 
Memphis M Cbarlestnn.. 
St. Joseph A Od. l'<lauil. 
St. Louis Alt. A T. tluute. 
Toledo Peona .t West'n.. 
Western N. Y. A Penn. . 

Total (78 roads) 

Set Increase (81 1 p. c.).. 



1895. 

711,176 
20,109 
14,401 
40,U2ri 
47. .^74 
62,947 
18,991 
6.45t 
d.006 
9.016 
18.75 
10,9 H 
19.;^ 90 
17.381 
66,900 

6,462.91t 



1894. 

« 

63.454 

16.30. 

7,773 

38,434 

45,82 

80,021 

16,016 

5,«84 

6,233 

8.359 

19.499 

lfl,232 

17.580 

17,025 

52,101 



5,978,299 



Increase. Decreate, 



9 

6,722 
8,80- 
0,028 
2.491 
1,748 



975 
772 



1,810 

336 

14,80(< 



63«,804 
444,618 



17,074" 



227 

343 

741 

5,333 



150,18» 



Road*. 


Lalett Samingt Keportrri. 


Jan. 1 lo LaUil Date. 


Week or Mo 


1895. 

$ 
35,033 


1894. 

S 
31.08b 


1995. 


1894. 


Baltimore Tr»c. 


May 


$ 
153.B61 


9 
95,168 


BliiKh'tou St.Ry 


May 


10,860 


9.572 


43,210 


38,339 


Bndirep't Tnio. 


ith wkj'ne 


6,347 


»,739 


130,176 


54,017 


Brooklyn Con. Bt 


May 


33,(49 


18, TOO 


92,912 


77,340 


B'klyn Triion— 












Atlanltc Ave 


May 


82,404 


83,822 


289,798 


3'0,.'>70 


B-klnB AW K. 


May 


13,119 


i<,87i 


36,294 


30,728 


Buffnlo Rr Ist wkj'ne 


37,796 


32,615 


682,640 


026.195 


Cin Newp.AToT May 


S6,882 


41,397 


222,249 


174,022 


Cltiie. s' I il'lis April 


74,202 


64,209 


264,393 


235,910 


Clevrlitnd Eloe. .May 


129,659 


111,^21 


65«,134 


459,765 


Colamb'aet. By. 4th wkj'ne 


13,609 


I0,n63 


■293,334 


260,147 


Den V Con. Tram May 


69,3r2 


63,671 


273,909 


293,318 


Dalath 8t. Ky. May 


18,003 


16,»7» 


81.161 


74,355 


OalvUnC'tjRy May 


3<>,432 


18,453 


77,940 


71.945 


Lehlnh Trscfn. May 


10,963 


5,385 


43.909 


25,342 


Lock Haven Tr. May 


1,»2P 








Louisville Ry ..June 

Low.Law.AHav May 


110,710 


106.471 


597,8-' 2 


6'76.878 


36,654 


21,501 


134.587 


89.819 


Lynn A Bonton. 2d wk June 


81,709 


27,738 


520,616 


469,566 


Nashv'le St. Ri. May 


27.867 


27,223 






New EDirland 9i \VTcJune22 


f.833 


«,4l9 






New Ori'DsTiao 2dwk June 


32,371 


19,481 


689,011 


423,19'8 


Peopl"sTr.(Pii'a) Juue 


206,6 >-8 


69.^82 


918.491 


521,072 


Bcranton Trap'n May 


26,000 


20,409 


103,900 


93,688 


ThIrdAve (N.V ) May 


238,672 


190,62e 






Toronto SI. Ry.May 

TwInClty aT..May 


86,047 


82.238 


864,461 


353,638 


164.00C 


168,<.9e 


754,08i> 


763,16^ 


Weroesi«r Cons. May 


37,549 


83,271 


157,288 


1 181.327 



For the month of June 49 roads (all that have furnished 
statements for the full month as yet) show ag,?regite results 
as follows : 



Latest HroiMt BarnlagD bj Weeks.— The latest weekly eam- 
inf(s ID the fnreKoinf; are separately summed up as follows : 

For the fourth week of June oiu preliminary statement 
ooverK4l rn»dp. and showf 6 34 por nont nain in the aggref a'e. 



4lh wee* of June. 


1895. 

• 


1894, 


Increase. 


Deereaee. 




9 


9 


9 


AtlanUo A Danville. 


9.306 


9,30.'> 


100 




Bait. A Ohio souinweM. 


140,434 


135,-73 


4,561 




Brooklyn Elevated 


46.490 


39,-80 


6,66U 




BnAlo Rooh. A Pittsb'tc. 


76,5 ii 


35,9 5 


40,567 




BnrL Ced. Rao. A Noith. 


88,090 


81,873 


6,217 




OuMllan Pao^flfl 


478.000 


470.04M. 


5,000 




OhMapeake A Ohio 


251.611 


197.330 


54,281 





OUeaco A East. Illinois 


64.762 


41,815 


23.147 




ChIoa«oMUw. ASL Paul 


684,453 


724,106 




39,653 


Cln. Jaokson A Mackinaw 


13,«73 


15,454 


• •• 


1,551 


Olev. Lorain A Wheel'g.. 


41,071 


85,259 


5.812 




Denver A Elo Urande. . . . 


167,200 


142,500 


34,700 




Kranav. A Indianapolis. 


6,314 


3,«20 


2 494 




Iransv. A Terre Haute.. 


37,333 


30,807 


6,5'i6 




Intem'l A Ot. North'n ... 


71.199 


66,. 03 


."■,895 




Iowa Oentral. 


86,993 


33.725 


12,268 




Kan. City Plttsb. A Oalf. 


9,929 


10,4.0 




481 


Kan, City Suburban Belt 
Lake Erie A Western.... 


10,139 


7,667 


2,481 




78,706 


81,336 




2,630 


UhiIsv. Evansv. A St. L.. 


30.0«i2 


29.311. 


792 




LooUviUe ANashvUle... 


600,071 


467,264 


32,808 




LonlsviUr N. A. A Ohio 


78.48M 


67,590 


10,990 




Mezloan Central 


308.789 


198,456 


10,333 




Mezlean NaUonaL 


95.813 


97,4 42 




1,529 


MliuteapoUa A St. LoiUs. 


40.496 


32,2 '2 


8,274 




Mo. Kansas A Texas 


278.785 


1M1.740 


87,045 




Mo. PaclHoAIronMt.... 


553,UO( 


49>I,0V0 


53,000 




Central Bntnob 


12,000 


17,000 




6,000 


H. Y. Untarlo A Western 


97,61- 


134.850 




36,993 


Norfolk A Wrsteru 


140,986 


191,932 




50.946 


Obio aouihern 


13.77e> 


17,173 




3,195 


Peoria Deo. A Evansv... 


17,332 


l!<,262 




930 


ntubnrs A Western..... 


84.774 


51,228 


3S,S'>6 




St. Louis Booth weslem.. 


127,70. 


92 30.. 


85,400 




Soutbem Railway 


3t;8,931 


372 121 




3,190 


Tezaa A PaolBe 


1I5,U80 


1424WJ 




26,513 


TOLAon Arbor AN.MIoh. 


30,451 


29 310 


1,141 




Toledo A Ohio Central. . 


62.51? 


55 22^ 




2.707 


Toledo St. U A Kan. C... 


43.082 


34,271 


8,791 




Wabssb 


277,84i 


26»,906 


12,039 




Wheeling A Lake Erie... 


39,117 


■,<9,506 


8,612 




Total (41 roaasi 


6,504,584 


5,176.354 


503,778 


175,54 


■el Increase (e'34 p. u. . 






328,230 





Par the third week of Jime our final statement covers 
78 roada, and abows 8-11 per cent gain in the aggrei^ate. 



Sd meek of June. 



Prsv'ly rsportnl (60 r'ds) 
Ateo. lot), dk oaii. fe 

St. LoiiUAHanPr. 

AUaaUoA Paolfla 



1896. 

~»~ 

6,846.379 
608,52<< 
104,053 

77,148 



1894. 

• 

4,944,005 

4 11.9 « 

106,640 

68,196 



Inereate. 

9 
537,165 
68,603 



8.947 



Honth of June. 



1895. 



<Jr088 earnlnes (49 roads) 23,090.779 21,350.384 



1891. 



Ttierease. 



1,240,395 



Per Cent. 



5-6T 



It will be seen there is a eain on the roads reporting in the 
amount of $1,210,39.5, or 5'67 per cent. 

"The following will furnish a comparison of the weekly 
results for a series of weeks past, 

WEEKLT OROBS BABNINOB. 

feriod and number of 1895. 

roade included. 9 

May— let week (>(0 r'ds). 6.238,972 
2d week (79 r'ds). 6.29i.9.J5 

" 3d week(77i'(l8). 6.339,606 

" 4th week (S2 r'ds) 9,453,374 
June— l»t week (M2rd8). 6,812, I18 

" vd week (81 r'ds), 8,444,541 

" 3d week (78 r'ds). 6,462.916 

" 4th week (41 r'ds). 5,504,584 

Net Earnings Honthly to Latest Dates.— The table fol- 
lowing shows the net earnings reported this week. A full 
detailed statement, including all roads from which monthly 
returns can be obtained, is given once a month in theie 
columns, and the latest statement of this kind will be found 
in the CHBONicLe; of June 22, 1895, The next will appear in 
th( issue of July 20, 1895. 



r- 


Changes. 




1894. 


Amount. 




$ 


9 


P. et. 


5,99^,710 


241,262 Inc. 


4-02 


5,935,237 


3S6,6«8Iiio. 


602 


5,845,253 


493,353 Inu. 


8-44 


8.880,181 


572, S93 loo. 


6-45 


6.0(13,658 


60-, 4 10 1 00. 


lOl.S 


5,947,148 


497,i93 Inc. 


8-36 


5,97S,298 


4>Jt.8l-(Iuo. 


811 


5.176,354 


328,230 Inc. 


6-34 



-Gross Eamings.- 



Roads. 
Austin A Northw.. May 

Jan. 1 to May 31.... 
BnlI.Roch.A Pitts. . b. May 

Jan. I to May 31 

July 1 to .'day 31 ... 
Canadian Paclflo.a.May 

Jan. 1 to -tfay 31 

Uhesap. A Ohio.. a.. .May 

Jan. 1 to May 31 

July 1 to May 31.... 
Ches. O. A So'wn May 

Jan. 1 to May 31 

Clev. Lor. A Wheel... Apr. 

Jan. I to Apr. 30 ... 

JtUy 1 to Apr. 30.... 

Oen. A B. Oranne.b May 

Jan. 1 10 May 31 

July 1 to M^y 31.... 
Eureka Springs Apr. 

Jan. 1 to Apr. 30.... 

Kan.C. Mem. A B.a..May 

Jan. 1 to -May 31 

July 1 to May 31 

Loulsv. A Nasbv.b. .May 1,533,364 
Jan. 1 to May 31.... 7.541.799 
July 1 to May 31. ...17,728,677 17.429.528 

Mexican Central May 782,718 784,301 

Jan. 1 to M.y 31.... 3,872,050 

Mex. International.. May 225.493 
Jan. 1 to May 31.... 1.079,5S9 

H.T.L. E.AWesfn.. May 2,276.212 
Jan. 1 to May 31... .10,148,868 



1895. 

20,397 

91,^08 

231,502 

1,154,183 

2,804, j06 

1,441,423 

6,i43,371 

83<,811 

3,815,345 

8,817,520 

194,116 

907,605 

96.792 

358,580 

1,138,831 

.'.76,-05 

2,6^9,7^9 

6,337,268 

4,947 

19,355 

85,379 

40M33 

960.073 



1894. 



-Xel Eaminys.- 



22, 149 
97,155 

94,868 

963,038 

2,699,974 

1,450,489 

6,679,036 

571,800 

3,4 i7, 168 

8,345,788 

161,875 

810.037 

82,759 

305,622 

1,028,577 

557,011 

2,530,7'!l 

5,974,176 

4,617 

21,443 

71,588 

424,772 

1,003,342 

1,481,469 

7.673.604 



3,601,210 

163,751 

893,118 

2,080.488 

9,430,180 



1895. 
9 

7,220 

23,760 

44.096 

29 J, 6 19 

855.947 

544,649 

1,94 ,92 J 

269,121 

1,155.369 

2,8;)6,342 

62,159 

280.449 

28,018 

89,576 

361,554 

247,790 

1,084.082 

2,667,2'29 

.2,073 

9,335 

13,972 

5h.926 

173,757 

45l,'207 

2,46 .5^0 

6,589,168 

351,610 

1,631,686 

94.007 

441,216 

6 '5,2^1 



1894. 
$ 

8,451 

31, SOT 

der.5.311 

27?.219 

909.769- 

513,.538 

1,849,273 

156.892 

1,074,202 

2,779,301 

51,651 

228,250- 

15,887 

72,235- 

307,691 

226,786- 

985,121- 

2,346,644 

598 

11,130 

2,180 

52,413 

175,393 

449,436 

2.771,382 

6,645,959- 

275,082 

1,149,741 

59,783 

373,965 

'615,498 



'2.5'i8,163 *2,199,.*90 



Oct 1 to May jl ...18,878,782 16,942,112 •4,578,542 "4,871,543 



171,128 
895,285 



165,990 

713,663 

1,211,349 

5,333,485 



K. Y. Bus. A West, b May 
Jan. 1 to May 31.... 

North'n Paolflc.b.... May 1.342,8 '8 
Jan. 1 to .May 31.... 5,8t6,6l4 
July 1 to May 31 ...16,182,230 

Oregon Imp. Co.a May 291.898 310,940 

Jan. I to May 31.... l,29tl,119 1,49<,971 
Dec. 1 to May 3i.... 1,37 .',315 1,780,948 

Rio Grande West. b.. May 202,0^6 196,540 
Jan. 1 to May 31.... .944,321 787,'229 
Julj 1 to May 31.... I,9s9,6l3 1,930,188 

8t,Faal ADuluth.b.May 117,792 140,038 
Jan. I to .lay 31.... 486,297 199,114 
July 1 *.o May 31 .. 1,301, .99 1,385,424 

Southern Pacific. b. May 3,'>Si',980 3,824,396 
Jan. 1 to May 31. ...17,798,909 17,306,606 

roledoAO.Ceut.b...M»y 95,795 78,o78 
Jan. 1 to May 3L.... 629,271 569,222 
Joly 1 to May 31 ... 1,781,606 1,554,053 



46.321 
29-<,537 

331,3 48 

1,6 1 1,2 J4 

5,783,927 

51,671 

123,417 

14->,2 

77.0'25 

277.506 

672,938 

2i!,602 

97,594 

382,979 

1,059,923 

5,061.574 

2,942 

143,307 

56i,095 



61,328 
267,356 
193,703 
976,983 



60,744 

258,930 

290,474 

69,535 

222,099 

691,291 

39,767 

1 1-2,977 

421,149 

1,099,103- 

5,'271,351 

1,443 

16*, 171 

511,446- 



Otertase, 

9 
124,891 

'"i,587 



u. Net earnings here given are after deducting taxes 
b Net earDiniff. here drlvAn are hftfore deduotlnir taTe*. 
" After d. dueling proportioQ due roads operated on a percentage 
b. la and results of opdratlout^ <>( auxuiary oota^iauie.-*. uet lo .>fay, 
1895, was <4.j3,59A ^il»>u3t -11101,519 ill 1994; for flt-e months ended 
May 31 $1,300,941, agaixst »l,055,8i3, and for eight months from Oc- 
tober 1 to May 31, 9t,i>3i),ial, against :$^,s6i,43i. 



JPLT 6, 1995. 



THE ('HROMCLE. 



25 



lBt«r««t ClikiYM »■« Smrplis.— The foUowinj; rokda, id 
addition to their groM and net earnings given in the foregoing, 
•tao i«port ohaigea for iatereat, ftc. , with the Burplua or defloi i 
sboT* or twlow thoM oharzea. 

^tnlVt, rt»UiU. de.^ -Bat. 9f M*l Marnt ^ 
- 189». 18S4. laoi If)P4. 

■WHfa. • • • • 

0«mT«r A RIo nt'4«. May 3)I.3IS lft9.6X« 48.4«5 27.130 

Jttljl wM«y •l... «.a02.615 2.«l9,7»f 4e4.«U 12B.«5J 

w^ n Mmb a mr. M«T 11,870 39.909 102 def.37.78) 

Jalr 1 to Mar 31.... UI.4I3 436.937 42.311 ctr.291.Ml 

Ttetodo JkOhl«CMil..)Ur SS.3i9 33.311 dfSS.lSt Jf.SO.St? 

JalTl to Ma; 31.... SM,332 .331.492 'l&d.'lSS ■18:.asi 

• Aftar allovtnic for oUiar iaenine raoMred. 

Street Ballways aa4 Traction Compaaiea. 



PMa Eanung*. . Xct Bamingi 

1M4. 189>. 



1845, 

1 .: :«'-9 

5S«.l34 



CleTataod BMlrle. Umj 

Jaa. 1 to Mar 31 -•■ 
LoatorUlaBallvarJanal 110,720 

Jan. 1 to JoBO SO.... »97,88S 



• 

111.32I 
4^8.783 
lOe.471 

370,878 



44,413 
175.JS) 

82.736 
M«,8SS 



1«94. 
• 

41.228 
132.966 

33,120 
318.936 



ANNUAL REPORTS. 



Paeile Mail 8teaa8hlp CoMpaay. 
fRtport for tKr ytor mM^tg Aprtt 90, 1896.J 

Tb« full report for the flaeal year endinic April 90 waa iMaf d 
thia week, and eztracta will be fnnod at leo|{th oa aohaeq leot 
paicea. It coalAioa P/«*ident Hoatlo^toa'a remarka on the 
property and iia op Tatioaa aad pcoapeoU. The aarplat eam- 
loga OTar axpaawa for Iba Itta raar war* fTIS.Ml— an ia- 
criMi ooosparad with tha prertooa y«ar of 1287.189 Mr. 
HoadBCtoo poinU o«t that with the expiojioo lo general 
btwiaaaa now in prograai thara ahoald eome a atiU farther de- 
▼a)opiB«nt of the eompMT** iraiBj and reoeipU. The current 
UabUiUaa ware redaoed dariag the year by •6*4,413. aad the 
aTailaMe iMiti at tlia aad of tlie year ezoecded Uabilitica 
by SS85,0tt3. 

The ootnpiratiTe ataleoiaet of eamiajia aad e«a*naaa for 
four yeara haa bjaa oompilad for the Cnosicui a« follow* : 
aaaaiaea am axraaaaa. 

_ l3M-9ft. lM%et. 

AUaatlTIlM 321.819 

PaaaiMUM S.l»3,4S3 

TtaaaPaMte Ua* I^S.4J7 

aakaMtaa. 80.000 

■lalaiaw aa< <lTldoa4« ... 

31«.»7t 



i7«jRe 

i.Tae,*4> 

1.49«^I0 
W^<7 



iwrai. 

1..' 



laaip'j. 

t94.«70 

ia.«i3 
•onj6 




>SM,5IX 



1 



.„ 4.M7,«73 3.814.0liJ 4,118.473 4.40->.Jm: 

Atla««lril<M in.M0 •74S2 MIA7* 



TraaaPMtar 

AaeaetM 

Mia 



lloa l.SIM«0 1.40i^43 1.T|»>,«»4 -I 

•tar Uaa 9\%IH» JM^ M4.iai 

. ..^....^ :7M.au 824^3 aaa.no 



t«l4<>& 371.111 •MM'? 



247.883 



Total ^.^^ MTft-'iO 3.3»8.«33 4.l7»,tia S.O^'I.OM 

MMoaraUam. ... ... 711.833 473.481 d'f.ft8.742 7il.907 



> f<e«lt*." 
>aiora«a al Pas«>ai. 



■ ladulr 
I laciU'U. 
: Iaelu4»a v « I 
—V. 80. fL 008. 

WmlaflieBae Blertrle m Xaaafartarlar Coapaay. 
(Far the nmr rniUng March ;/, ItUS.J 

The rrport of Pr«»idest Oaorge Wratir ebouar, Jr., aayi in 
part: 

(Tmfrri/.— The all Importaat foal . yearn bunine** 

baa be*n the creation oca aaacniBo . • tou, ba*iog ud- 

eqoafed facilitica for the oarryiac on of the UMneaa in which 
yoor coinpaoy ia engaced. Theae now woriMaie located at Ca«t 
Fittaborg, aboal twelve milea eaat of POMbors. Aa waa to be 
expected, aaoh czteMire baildiag oporatioae aad the removal 
of materiale froot the old to the aow woeka redaoed the output 
for the year to abont tbroa.<|uartats of what it would otber- 
wiee Itave been. The dircciora eanteatly iavite all bolder* of 
the eoapaay'a alook who may be able .and deaire ao to <1u to 
4Miad ia petaon the anaoal meeting oo July 17 at Pittaburg, 
erhere apeeial railway aad other arraagemeoia will be made. 

Sofar aa aaoertaiaed there waa ezpeaded directly in re- 
aaoriac the auchiaerr aad material |0],499. after deducting 
which froaa Ibe earalnci from bnaioe** and from otbar 
aoareee there ia lef I a net proSt of $71 1, 90S. 

X.40M tmd Botrtr Proptrtiu — Toor oootpany haa for the 
paat aityeafa been intercated io the United ElMstric Light ft 
Power Umpany, of New Yorli, aad the Bmah Electric Com- 
paar. Baltimore, Md. During the paat year both of three 
compaaiea, with the aaitalaooe of your oompaay, have car- 
ried tbroagb flaaaeial piaae which have put them on a proa- 
perooB boaiaaM baaia. Their fl^lda of operation are uousa- 
aHy prnttoMe oo« ttd it ia beUered by your management 
that the eaiao of their aMvritiea owaed by your company will, 
la the aear future, be equal to their par value (amounting to 
ii,Ml,100). aad tbat the Bnal profit thereon will be a large 



The noilod Eleotrie Light ft Power Co., 
ferredtOihw aeqoired alm-> 



. under the plan re- 

i-Mt all of the etock of the Bruah 

ntaoilaatiag OooipanT %.n^ of the United Hcatee Illuminating 

~ Ipaay, hothof New York City, aad U now compleling 

I of the OMal coaapreheaalve fight and p'lwer rtation* ia 



the United States It has contracted with your compiny 
for ten complete electrical outfits of 1.000 h. p. each, and for 
all the conveners and othsr needed apparatus, half of these 
oatfite haviog been uied for the World's Fair lighting. On 
the completion uf thj above contract your company will 
have io eecuritiee of the United Comptny : Isc mortgac;e 
bonda. $918,000 : preferred srook, $.550,4<)O ; common stock, 
$411,700. 

From its old stations thisompany is now doing a business of 
about $800,000 per annum, which should be more thandjubled 
by tbe revenue from the output of the new station, giving it a 
net revenue aueSoient to piy interest on its bonds and divi- 
dends on all of ita stocks, there now being a demand for light 
and power sufficient to absorb the entire opacities of th? sta- 
tions of all existing compinies. 

Bruth Electric Company of Biltimtre, Md.—la the re- 
organization of tbi^ oo npany your company sutncribed for 
$40,000 first mortgage .'S per rent bonds and cook in payment 
for machinery $170,00) first inortgd};'* 5 percent bonds, mak- 
ing your company's total holding $°310,000 first mortgages 
per cent bsnds. Your company also waa the owner and now 
b^ds ;,000 ($100) ahares of the common stock out of a total of 
IJM sharce outstanding. 

ThoalatioQ of the Baltimore Brush Company is new and ia 
one oJF tbe finest to be found in the couniry. ' It has three of 
tho World's Fair 1,000-horae pojverengmes and generatora and 
liaa been supplied with a large amount o( oUi*r el>>ctrical ap- 
paratus aad will be hereafter, as will alao th> United Com- 
paay, a ooaatant purchaser of your company's apparatus and 



OdOaterai TViwC Ao«d«.— Your board, nndfr the powera 
ooaferred uptn it bv the company's charter, ha^ authorised 
tho isaue of $1,330,000 ten-ye ur per cent collateral truit 
boada, eeeured by oertain bonds and stocks held by the'c >m- 
paay, prori^on being made in tbe deed of trust for tbe sale 
of a portioaor all of the s«curities, and for t le cancellation 
of the cormponding amount of the collateral triu* bdada 
seeand thereby. It is proposed to fuidou; of the proceeds 
of thia isaue of collateral trust bond* an equal amount of 
debt, a CTvater part of which hu been creatad in the build- 
ing of tbe new worka, tbe purcbaae of new machinery and 
tbe outlays in oonection with tbe financial plans of the 
Uaiird aad Bruah Compaaiea. 

IF8Sftii{^7M«r Eleelrie Companji, Limited —Your company 
danac the paat ;ear sold addiujoal patent rightv to the a'wve 
OOOipaBy, aad with the proceeds purchase the preferr>d and 
ooMBton stoek of a numner of Eigliab h)l lers. so that your 
compaoy now nx os |T8> .%')'! pnsferred ani $1,807,400 common 
stock I ux-4h*r t.'.U'j b •'< .ri- of $■ S.'.'.T j i ou''«ta'idiag. and 
your companv w,ll d r alter Jire.:t all of its atfairs. All ap- 
paratus sold by tb ) L lodoa c >mpanv haa been pardiased 
'romyoarcoapaoy at pro1ta*)le ratee, and tbe burinesiof 

le LoadOB companv last year aetted nearly ^e p>r cent on 
a. ralaaiioa of $1,000,000. It is propoied to puih the busioess 
ta Otaat Biitaia, Coatineatal Europe and in tbe variout oolo- 
ai08 ia order to increase tbe salee of yoiir company's product. 

Aiieafs and LUigalion. ~\'out company has been sncoess- 
fol ia favorably terminating the litig[aUo3 in respect to in - 
oemlosceat lamp*, the feeder and main, and other important 
paltBta, and it waa eapscially suxvnful io the C'.'lebrated 
BalO Itifriceraior esse before the Supreme Court, io wtiich 
the Ufa of a auBber ef patents, whica were being uwd to 
tnW— ine trade by your adversaties, was inally determined. 

Ia tho MoBIeeaport case, argued in the Supreme Court 
Oolober laat, iavolviac the ownership of the carbon burner 
for ineaadesoent lampa, no dectsioa has yet been handed 
down, bat tbe long deCav on the part of tbe Court in arriving 
at a conrluvion is regarde I as not unfavorable to th* sustain- 
ing of tlierlaimaof our 8kw,rer Man Patent. 

ToKlay the miat important inventions are tb^ee reliting to 
the ase of alternating currents, and your management 
believe that, with the esoluiive control of th* Teala patents 
lie position in patent matters ia more favjrable than tbat of 
aay or all of iu oooapetilora. 

Stmt ftl^*ltnff Operntetl bg CiuUrground EUetrif CtrcuiU. 
— 'Tdttr ooospaay ua aecnred the controlling interest in the 
stoek of tbe Eleouo-Magoetic Traction Co. of West Virginia, 
aad through it tbe control of valuable inventions relating to 
tho operatioo of street railway oars in large cities by means 
of aaoergrouad circuits. Thit'aystem has been in continuoui 
Operation ia Waabington during the past year, and is now in 
saoosaaful oper a t ioa oo tbe tracks of your company in and 
about the boildinge at Bast PitUburg, where it is to be 
need for moving freight cara and for general work. 
Thie arrangement appears to be a complete solution of the 
problem of street car propulsion in all large citiea. A model 
of this system is now in operation a', our of&oe at No. 120 
Broadway, New York City, and will be ezhit>ited to stock- 
holders between tbe hours uf 10 A. M. and 4 P. M. during 
July. 

TMa Pou>«r DUtribulitif/ tnventioru — Your company 
owns tbe exclusive right to manufacture and sell appa- 
ratlM under tbe patents of Nikola Tesia, covering the ute of 
multiphaae alternating currents for power di8tri*)ution. The 
rights under these patents are of great value, for devel jpments 
indicate that it is only by means of Testa's inventions that 
elevated and long Unee of railways can be successfully 
operated, and tbat power can be most economically diit- 
tributed over wide areas, and throughout workshops. The 
ftiOOO H. P. generators oontracted for by the Niagara Cataract 



26 



THE ( HRONICLE. 



fVou LXI. 



, Railroad with oriiioary eltcuioal 



li»>cently your company 
^;i-7\^. Pr»-yJ-to^KnlVd cars, arid the te,.s 



the couDtty. 
nch of in*" 
app«raluit f<r the propu 



Vour company is, however, 



^L^in^ fo^ward^'f.e"maStl•re oTmuWhWmotor^ und.r 
ZT^\l7ltlVL practical tests in runnioR ^X^^^.M^ 
"■•I ,.^,ia and lonif Iii'f?, the successor which «iu oe 

.ml he •rbo.nsun.llouston Company. In the '""^,>- c«««. "P 

?h« ^ar fu'ure the h.ilk of the business will be done by 
m^n. of aUernating current multiphase apparatus, mvolv.ng 
the use of TfslaV iroportani inTentions. 

BALAKCB SHEKT MXBCII 31. 

Atseli. 



1893. 

t 

.. .. . 202,«81 

OaKh In D»n»ii un 134 

Bm»reeelv»>lc..... „ 14«'l31 

AocoanlD receivable •• •,•-■• ^,i*o,^^^ 

Mftorlal in Mock and In prowsH ot manufac- 

tur« (at .o.t .f hil.or and material) '''flo'^BS 

Advaoof* to lc-a»e<l '■""nP»»"'''»-iv.;vv-o; 01 1 971 

B<.r<lB (Tar value March. 1893. $»;66,2 6) ?i,V*7J 

K, (par value Marel,. 1-93. «8.65«.009)... 4,092,M9 

R»al entate and bulKilngs . •- -- 40*.*"^ 

New fiolory ,*l.l86.380). lew mortgages 

(1674.310) on land ika'tl'S 

Machinery and tools. ^* 70 293 

Sbim«rta;Sohi.ei;pW.eiu;-eti:-::::::///.:"j;404^ 

Total ;»et«. 16.314.241 



1894. 

$ 

325.fi!'4 

373.415 

2.345,161 

1,54«,472 
109,124 
237.397 

3.98S.9a2 
464.403 



Accounts payable v'-u; tTo'Sal 

Bills payable. UmiedformerohandlBe o«?'5So 

Discounted wlih collateral 1,263,000 

^■„ii(r<ir( anil contiugeiit liabllUiu— 

ecrip dividend 1^ laS 

Btook subBcrlptlons. oio'ooo 

Collateral trustbonls /•-•y- ■'O".""" 

U.S. E. Ltg. Co.'s 6 per cent 15 year bonds. 

$30,000 payable anuuaUy ;-iVooVVA '"^'"^" 

(Bills receivable under discount, 9528,350 
Id 1894; e396.972 In 1895.) 

V^^Siriii'^' 3.993,266 

Common V" j"""j **^>'"" 

(In treasury 134'69 shares preferred; and 
13.266n»M shares assenting) 
Bnrplus (see below) a.»7».4uo 

Total lUbUUles _ 16,314,241 

1895. 

B2l?Je''»Ureh 31 of rrevlous year............. 3.822.049 

Twelve monibs net earnings from business.... 7d4,6»» 

from other sooroes .- °7.7J0 

4,621,458 
Less amooot written ott, *• 301,939 

4,322.519 

Interest on ibonde 5I'2SI 

Intereston scrip o,rniS 

OiTldends ''74,059 

343,119 
Bnrplus March 31 8,979,400 



886.452 

66.339 

4,379.831 

14,722.314 

311,749 
116.933 
697.300 

194.560 
13.125 



550,000 



3.671.965 

5.165,481 

179.150 



3,822,049 



14.722.314 

1894. 

$ 

2.757.619 

1,610,504 

30,304 



4,398.458 
271.521 



4.126.936 

36.000 

11.673 

257.213 



304.886 
3,822,049 



GENERAL INVESTMENT NEWS. 



Alabama Great Sontliern— Cincinnati New Orleans & 
Texas I'acl lie— soni hern Railway— The collateral securing 
the Cincinnati Extension bonds of tne old East Tenn. 
Virginia & Georgia KR. was sold by a special master at Knox- 
yille, Tenn., on Tuesday, by order of i he United States Cir- 
cuit Court. It consisted of $500,100 stock of the Cincinnati 
New Orleans & Texas Pacific and £340,000 A stock and 
i;7NJ.01O ordinary B stock of the Alabama Great Southern. 
The Southern Hallway was the successful bidder, the price 
paid being Jl, 000,000. This gives the Southern Railway, un- 
der its agreement with the Cincinnati Hamilton & Dayton 
[see V, 00, p. 796], coittrol ot the Alabama Great Southern.— 
V. 60, p. 1103. 

American Bell Telephone.— At Boston July 3 the Commis- 
siouer of Corporations lixed 194 as the price at which the 
lO.OUU shares of new Bell Telephone stock shall be offered to 
the ■tockholders.— V. 60, p. U43. 

Bellatre ZnnesTille It tincinnati— At Zanesville on Mon- 
day J. K. Geddes was appointed receiver of this railway — a 
narrow-gauge road ruuriiog from Bellaire to Mill Run, HO 
miles. The July, 1894, coupon on the prior lien bouds was 
paid in January, 1895, and no interest has since been paid. 

BlrmiDKham Kheflleld & Tennessee Kiyer— A dispatch 
) from Moutgomery, Ala., July 1. says that the United Slates 
Court has ordered the sale ot this road within sixty days for 
the beneUt of its creditors. 



Cape tilrardean Street-At Cape Girardeau, Mo., June 
29; this street railway was sol.l at receivers sale to J. 
A Matteson for |3,S00. Mr. Matteson represents a syndi- 
cate which ."ntendsf. make an electric line of the road and 
extend the mileage. 

Central of tteorgla System-Uacin & Northern-Holders 
of Scales reprfseniing .he deposited bonds of the Macon 
& Northern are requested by Alexander Brown & Sons of 
Baltimore to attend a meeting to be held at the oflic. of the 
Baltimore Trust & Guarantee Company on July 18 for the 
purpose of considering some proposition looking' to a sale, 
lease or other disposition of the railroad.-V. 60, p. 1103. 

(entral PrtClBc.-At San Francisco, Cal., on Siturday, 
United States Circuit Judge Ross rendered his decisiou on the 
demurrer of Mrs. Jane L. Stanford in the suit of the Federal 
Government to recover $15,000,000 from the estate of her late 
husband. Leland Stanford. The demurrer was sustained. 
Judee Ross allowed the Government to amend its former cotn- 
plaint and argue its case, if it so desired. It was intimated, 
however, that this step would not affect the case the law as 
construed by Judge Ross not favoring the case of the United 
States. The sustaining ot ihe demurrer was a surprise at- 
torneys generally expecting a contrary decision. -V. 60, p. 

Charleston (West Va.) Street Railway, Etc.-The street 
car line, electric-light and gas plants in Charleston, W. Va., 
are reported sold to a New York syndicate. The price paid 
has not been made public. 

Chicago & South Side Rapid Transit— This company de- 
faulted July 1 in the interest on the extension bonds.— V. 60, 
p. 656. 

ntizens" Street Railway (Detroii).— This company has 
filed a blanket mortgage for $7,000,000 to secure bonds to the 
same amount, the New York Security & Trust Company 
being the mortgage trustee. The new bonds will be issued to 
retire at or before maturity the $3,665,000 bonds at present 
outstanding, to construct new lines, and to reconstruct and 
equip all the l;nes of the company with electricity. 

Colorado Fuel & Iron Company.— The New York Sun on 
Wednesday said : " The negotiations for funding the floating 
indebtedness of the company have been completed. That in- 
debtedness was about $1,000,000, and the first mortgage o per 
cent bonds pledged to secure it have tinally been sold. The 
operation not only reduces the interest charges of the com- 
pany, but also provides it with adequate working capital. 
Its net earnings, owing to the revival of the iron industry, are 
now said to be at the rate of 4 per cent per annum upon the 
common stock."— V. 60, p. 1144. 

Colnmbns & Hocking Coal & Iron —This company de- 
faulted July Ist upon its 6 per cent first mortgage bonds. 
The New York Sun says : 

That "a oorooratlon engaged in the bualness Indicated by the 
title of that company shoul.l meet with misfortune at this 
time requires explanation. It is found in an offleial statement 
that the business of the company since the beginniut; of Us present 
fiscal year has been virtually in the hands of a tyrannical miners 
union, which has prevented its members from working, though they 
have been willing to do so. In consequence the company his been 
deprived of the use ot its property for forty-seven days siuce May 1. 
The officers of the company assert that it is solvent and that it has no 
floating debt beyond what it would be able to provide for as a going 
concern. Work at the company's mines and furnaces has recently 
been resumed, but its employees are working only from day to day, 
and for this reason the company is unable to make time contracts 
with its patrons. 

An abstract of the company's report for the year ending 
March 81, 1895, was in the Chronicle of June 29, p. 1143. 

Colnmbns Sandusky & Hocking.- At Bucyrus, 0„ 
June 28, at midnight. Judge Smalley appointed James H" 
Stewart, of Sandusky City, receiver of the Columbus Sandusky 
& Hocking Railroad, on the application of Charles H. Roser, 
a holder of four bonds. The road was unrepresented. The 
Judge appointed the receiver on the representation that there 
were unpaid bills and a disposition to dispose ot assets on 
haid. The bond given was for $25,000. 

The action was a surprise to the com pany, and it is under- 
stood that the matter will come up again in a day or so and 
that the receivership, pending the reorganization, will be 
allowed to stand, but that another person will be selected as 
the receiver. The car trust payments have bjen the imme- 
diate cause ot the company's embarrassment, due to loss of 
earnings occasioned by the miners' strikes. A plan of reor- 
yganization has been prepared, which has received the assent 
of a majority of each class of securities. Also $4,100,000 of 
income bonds. 

A circular to the security-holders dated June 11, 1895, says 
in part : 

The nvlval of l)U8lne8S anticipated when the circular letter of Deo. 
10, 1894. was written, requesiiug you to fund your coupons, has not 
yet materialized v> the extent expected, and another protracted strike 
of coal miners duiing ilie last six weeks has serlo isly reduced the 
earnings of your company .and Increased its floitlng debt. Conse- 
quently, wllh the present earuings it will be impossihle for the com- 
pany to meet its monthly car trust notes during the next seven 
months, as contemplated. 

During the last seven months, from November 1. 1894. to June 1, 
189 . the earnings were $li6,5!8, or $163,48.i less than estimated. 
The car trust notes mnturiog from June 1, 189i, to December 31, 
1895, are *1(>1. 152. The car trust notes maturing duiing is96are 
*67(<,833, and after January 1, 1897. «270,673. a total ot $1,110,678 
to he provided for in the next two years. 

The total ooBt of equipment is $2,410,047. and there has been paid 
in partial pa> ments on various car trusts $1,299,368 98, leaving a bal- 
ance of $1 ,1 1 0,677 84 yet due. 

In order to preserve the cars and engines on the road so that the 
company oau handle any business, and to avoid the loss of the large 



Jolt 0, 1886.] 



THE (.^HRONICLE. 



27 



mmounr Bircadr paid (f 1.2)9,389). ttw moathly oir trust parmnnts 
wUl luve to tw met ad ther DOW mature, do fartber eitenslooabelug 
■OMlble. 

IB Tl««r thra of the present emer^eocr. ana of tbe larser amonnt 
matnrlBr n.-ii n-^r < our direetora nave ihoacbt It wlae to oonaider a 
reorm 1 n. upoo a eoturrratlre eaUoiate of earul[.i{> 

ba4e<l u i i>lDe«« proipoot. will pay to tbe bondholdi-rs 

a>t per ■-■- _ iiU during the n^xt two years, and with Im- 

ptoTtntf InutttM* eoudiiioD* tbrreafter will prodnee addltloDal etra- 
Inw Mlloieol to w tiM laoreaaiac aODiuJ laler«M propoaei by the 



plan. 

uoao ( ' 

Vnr Coatpany.— The C'oluuli 
p^nrlii to M formed for tbe puii"" 
tti' ir li ildlOKa la tbaato<-k and bowl- 
.i--iri]ilii» lb» iMiTtD'Ot nf nimtlnir "!•■ 

I" " ' ' " ■ 

1" 
»:■ 

lljt»TP-i 

18IM *h . 
Dortca^ 
for ledt^ 



OlMMUl' 



ILAS. 

■ St Hoe^ag RaUroad Com 

— '■■'-•• from iDdlridu iN 

! Ry. Co. and f -r 

Hie new com 

'>d<. drat eoDp-10 

itrlgage ,V-year 

• July 1. \»:m. 

{. t„r anoum, durlnir 

c-eut. Of ibe xeoer.il 

»• fi>Mow»: t.'.OOO.o'io 

- -kbI eeiate iiule*. 

Iionda to eoTer 

a«w Monridrs 



I I'lll'twa: 



Prtarllr 
Genera 



.1.. 



'■ bonda _.^ 93,000.000 

.n.l< _ 7,430,0^0 

' >Dda. SO raar<< nflaaumalatlTe, 

•••roed. AOKilat I. H»a I.S14.000 

Tit, WM-diimalatlTe 4.100.»00 

T.aoo.xHj 

■iilt are to be uaed a« fullowa: In payment of ntr 
■i...tinKdebt. etc., 4709,107; ImproTeoutDl of mail 



C.M;. . 

tra*u. * 
•adiaaaipa 

toliowlac: 

.Vnr Xnt 

OU •MwriNee— mm. mioH, ln»»mf 

OolaabuaBbaWMa* HooklDK let M.. • 1.000.... •l,uoo 

do 4a Kqalpmratmort.. •1,000... 1,000 

BasdaakyAColoia. abort Uae Ky.UtM.*l,000 1,000 

«• M ImlpiaaBlBart, •l.ooo 1,000 

Cela^bM tmm»mkjlttb»tk. aaaael. «., 01. 000 

CMaoaa la aiiaau a( MiOOO *t aay of alMTo 

1,000 



'Tbe old bond* aa4 eaapoaa will reoeiTe tbr 



•l.ovo 



Var aaek 9100 »bare tbe p n aa a t waf a ii a* a t eak wtf i«ealva9100 Id 
B«« arelartcd aud tbe praaaat eoaiaaa #100 la aaw eoamoa. 

tntimt (Aaryc— Tba tateiaat ebsraa of aew ea aip any will ba dnrln^ 
tba ■rat aad Meand year, 9901 JM: dorlnc tba Ihirt aad fourth year, 

' ' iWraaffar. 9lu/>00,000al 4 par ceot, 

" " " If 



93W.UW: dortac Bflh aa4 

940O.0OO iBiaraai ataiaa aa 1.&14 Uaaiai bidaa* 4 par aant, 

aaraed, would add fOOt^OOaanually. 

Tbeeoet of aquipneat. ri,4 10,046 93, aa ava(««eat 910.470 per 
mlla. wilt b^ e ivared by saw prior lloa aad laaaral Bortcaca boada.— 
T. &>.».! I«0. 

CoBcort M Montreal— BoatOB* ■^■e—Bttgtoa * L9well. 
—At Concord, N. II. June 39. tba atockbolde's of thaCin- 
cord ft Monueal KK. Co., bj ■ Tote of M,9>8)i ohMea to 
10,047 aharaa, ratiacd tho pcopowd toaao of ih« road to 
the Boatoa A Main*. Tbajr bIm rolad to iawwao tba cap- 
ital Nook bjr $1,900,000. A forawl protaat acaiiwt tba la4«» 
waa pw wiiil (ram ownar* aad boiaora o( 0U«« 4 atock u3 
tba (iTNwd tbat Iba laaaa " oosiatoa an indapaadaat proriaioo 
■ffoedaR oalv dUfaraot elMaaa oT atookbohtora ia iha Ooaeortl 
* Mootrc*! RtUraod by whieb prorMoa ifeo rootal b diridMl 
aoMOit ibo diffaraai elaaaa oC aloekholdara ia Iba aald Coo 
cord * Moatnal BaUroad ia violaitoa of a ruadameotil law 
of tbat I'liT yirfattmi .'' 

AtLawraooa, MsK., JoaaM, tbo Bjmod ft Maioaato^k- 
^oldan, at a apaeial maitiHK, roud la favor of tba propoai>d 
Tba *ol« ateod ur7,4M abaraa for to W abarea 
tba laaaa. Tba Boaloa ft UtmU atoefcholdaw abo 
▼olad to aaaaet to tba laaaa to tba Boatoa ft Maiaa of ibe Coo- 
oord ft Moatrtal road. Tba LowaU raad iaiaaaod by tba Boa- 
toa ft Maiaa, aad tba aaMat of ilo anokboldara ia aooeau? 
to neir IraaHb— V. 90, a. 1144. 

Diatllllaf A Cattle Feadla*.— At Chicago ycaterday Judge 
Bbonalter aiKoad tbe ordar for a judicial a«]<>. Tba mI«* will 
take placa by anctioa la Cook Couoij. and ilia price of |0,- 
800,000 oiTercd by tba Btorn a a i iatioo Committea it ia under- 
•tood will be oooaidered aa npaet oricc 

Coonael for ez-Pcvaident Qreaabat aatMHioce that tiicy will 
oooicat tbe decree of tale of tbe DiatiUioK Coiupany'a aaMia 
farther in tbe Court of Apfwala.— V. 00, p. 1144. 

Interaatioaal Navlcatia'a Casfaay (af NewJera^j.— 

ThM ' .TOpAny, which owna tbe Aiaericaa and Hud St\r lino*, 
hn I 23 ooeaa ■teamahipa aarcgalintc 197,231 toos. 

b^ 00,000 9 per ceot gold bouda, part of aa iaane of 

la.m.o.cNxi uni oiortKaga booda, of wbicb 14,500,000 had pn^ 
Tiutuly beee aoM. Tba oompaay baa tbe foliowing capital- 
isation: Comaaoa atock, 99,000,000: preferred atook, ftu,- 
000.000: Brat- mongage, tO.000,000 general mortgace, |4,- 
000.000. 

Kaaaaa City Fart Seott A Mempkla.— Thia corapaDr fcim 
Bolioe'h^' >>>■• Urvaoheld ft Nurthern Bailrotd, UreeoReid. 
MkaoiK 'ra, Miawuri (croaaiag aad oooncotiog with 

thiaru>i .'.ri UrevnOeld), haying oaaa acquired by the 

K. C, v. >>. &. U. ConpaDy. will hereafter be operated by it 
aaapartof ita ayatem. The toad la 85 atilea in ieogth.— V. 
90, p.3il. 

Ijikp Htrtct Elevated <rbiraga)— Tbe oontract for eqnip- 

pt' i>| with mntor^ ami ■•Iprlric appiratoa baa tieen 

a" ;lio itcDcritl F.ltKrtrio (>>inpany. It is thought the 

toui ' '. ^Mll be about KM.UOO. -V. 60. p. IIOS. 

Luniaillle a JeflVmonrlllf Bridge.— A preaa deapatch 
from Jc(T<-r- '-I* bridge, in which the 
Cbatapeaki' Hfe intereated. was com- 
pleted^ June *i. i ne entire leugiii of tbe bridge ia 10,990 feet. 
-V. 9«), p. 803. 



(anchpHter It Lawreoce— Concord A Xontrnal. — As 
raentiooed in the Chroxiclb of June 8 (p. H'OT), the Supreme 
Court of New Hampshire recently decided in favor of the 
Manchester & Lawrence its long standing Buit against the 
Concord & Montreal. A settlement of the amount awarded 
tbe Manchester & Lawrence has l>een m%de and from the 
prooeeds a dividend of 30 per cent has l)oen de 'tared, payable 
on the Manchester ft Lawrence stocK, of which there is 
$1,000,000 in amount outstandini;. In the settlement the in- 
tereat in tbe Keene and Acton railroads wa«> eliminated and 
tbe Concord & Montreal paid the Manchester & Liwrence a 
lump sum of 9930,00l> ia cash as full payment for all claims 
ariainx out of the cose. Of tbe auiu pud. the Manchet>tdr ft 
Lawrence turned over to the Biaton & Miine |t50,()00 in pay- 
meat of a long standing rolling stock account. — V. 0:>, p. 1009, 

Xobile Lij?ht A Bnllway.— Mr. J. Howard Wilson has been 
appointe<l receiyer for this company, which owns an electric 
line extending from Mobile(Ala,)toSpring Hill in the suburbs, 

—V. 60, p, ew. 

New York A New Eaglaad— At Boston in the United 
Statea Circuit Court on June 39 the tw i suits *>rought by 
Mean Meaers. Roberts and Hart, of Nf w York, to re-ttrain 
the fbraloaure of the New York ft New E igland Riilroad 
sectfoam f ' ^ irithdrawn. It is unJ-?rjtood thit the 
partiea « r ther efifort to prevent th« reorganizi- 

'i'»n V.' .,■', ounsel for the receiver:t of th" Ne w 

' E tgland iitilroid, baa reoaived from Julge 
~ton arid from Judge Carpsnter in Providence 
authority fur tbe receivers to pay the Januiry coupons 
on tba first 78 and 0<: to pay the leaw of the ProvidenO'i & 
.Spriagfield road, and to raiaj $100,000 on receivers' oertifl- 
catat, if it ia f >und neoeasary, in order to make theae pay- 
meata.— V. 60. o 1149. 

Narthera ^>cllle —A preaa dispatch from Milwaukee, Wis., 
July 8, *aya : "At a meeting of the receivers of 
the North<rn Pacitlo Company a statement waa buI>- 
mitted ahowiog that eamiogs for eleven months 
of tbe current fiaoal year to May inclusive amounted 
iognMito $16,109,031, an iaoreaae over tbe earnings for a 
like period of tlie pravioaa year of 8070,037. For the same 
I>eriod tbe upersting axpeneea were reduoed 9411,040, giving 
a total increase in tbe act eamtnga for the period mentioned 
or 11,081,670. The General Manager estimatea tbat tbe net 
earoiaga for tbe month of June, the last of the tisoal 
year, will awell the increase of net earnings to an 
amooat in exceas of 81.800,000. This will make the 
net oofBings for the fiscal year in exoeas of 16,000,000. 
Tbaaa aat earnings do not include earaings from mis- 
cellaaeooa aouroea, which in 19IH amounted to 8i)6°3,000, 
nor do tbe expeases include the t&xea, amounting to $165,000, 
or reatols, amounting to about $1,188,000. It is suted that 
tbe tosaa and rentala tor tbe current year will ha no greater 
than laat Tear."-V. 90, p. 1140. ' 

Nertfeen Pacific— tireat Nortbera.— The Reorganicuion 
Gotaoilttee of tbe Northern Pacitio found there were serious 
dilBcmltiaa in the way of carrying out tbe propoaitioa for the 
Oraat Mortiicro guarantee, and while they are seeking a.ime 
other way to bring aboa't the alliance between the two com- 
paaiaa it waa deemed proper that Northern Pacific security 
hoUata sboold be promptly advised as to the preeent status. 
All tatansis are working harmonioutlr. but more or lee^ delay 
in aaaounriog a plan aeema unavoidable.- V. 00, p. 880, 
1148. 

Ohie River ^ ' ; '•tea.— The security-holders have voted 
to ieaue n»« to exceed $15,000 a mile, to he a first 

mortgage on tii>- mi- mready oomplnted, as well as on the ex- 
teaiioa to he built. Whea constructed, this road will extend 
from Caotden, S. C. where it lias direct connections for 
Chartealoo, through Blackaburg, where it crosses the Southern 
Railway to Johnson City. Tenn . and thence throu.;h Virginia 
to tbe Breaks of the Handy, in Kentucky. It wilt traverse a 
riob ooal, iron an'i timljer territory, and in Houth Carolina a 
general cntion-manufaoturing and agricultural district.— 
V. 60, p. 114(1. 

QU* S- ' ' ' notigage bondhilders' committee 

haa baei! a '» W. A. Read, of Vermitye ft 

Co., Cbairiii:iii: .^inioa ixirg, Henry Sanford. ex-prenident of 
tbe Adam* Expreas Company; Edwin 8. Hooley. of Rolston 
ft Base, and Thomas Denny, of Thomas Denny ft Co. 

A oqpimittee, coosisting of Messrs. John I. Waterbury, 
Praideat Manbatun Trust Company, No. 1 Naaaao Street, 
New York. Jamaa D. Smith, of Jamea L>. Smith ft Co., No. 
43 Broad Street, New York, and Jules S. Biche, of J. S. 
Baoha ft Co., No. 47 Exchange Place, New York, has been 
formed ia the interest of the srcond mortgage 4 per cent 
boada aad stock to formulate a plan for reorgsniz iti in. This 
committee reqoest tbe boldera of said second mortgage 
hoods aad stock to send their addreasea aad am unts of their 
holdings to any membi>r of the committee, in order that 
■ hey may receive copieaof said plan aa aoon as prepared. — 
V. 60, p. 1010. 

Orecoa ImproyenieBl— EInah ^piith has been elected 
Prcaimnt of tbis company.— V: 60. o. UOS. 

OngOB Short Llae A Utah Northera.— It is announced 
that foreclosure proceedings have been iosiitoted under the 
ooosolidated mortgage, the bondholders having decided not 
to accept the conditions imposed by the Utah court as regards 
separate receivers— V. 80, p. 1106. 



23 



THE CHRONICLE. 



[Vol. LSL 



Pe»m»jlT»nl«R«llro«l.— AiPliiladelpbia.JulyS.C.Siuari 
PaUenoQ wa* uaaniiuoutly elected a dirtctor of ihia com- 

Emy lo dll Ibe vacancy cnused by the death of H. U 
oiutoo. The oew direolor u Uwii ot the University of 
P«B4«jlv»oia L»w Sijlio,.!. and U 009 of the best-kaowa 
U«ry«i in I'hiladelpUia.— V. 60, p. U72. 

PhlladelphU * Beadlig— For the ftfth consecuiiva time 
thU compauy. on July 1, drfgulted upon tho interest due upon 
Um fM»er»l morigage oonds, but paid all prior liens, the only 
other default being upon the principal ot $19,000 Schuylkill 
NaTiKatioo bonds. Those of the general monnaKe ojud- 
bolders who dri>.*ited their securities under tne Earle-Olcott 
plan of reorganization have this week received payment of 
the Jul, coupon, but those who did not accept the ternis i-f 
tb« plan uutil alt* r the time limit expired, on January last, 
were not paid. Tne conirai'tee aUo paid intertst up 'U what 
are known as eqiii. able oetiiticates ifsaed to parlies wno ad- 
T«noed the money to pay the Ken< ral mortgaKe coupons.— v 
aO, p 1U7. 

Plitakarg Vlr«l«l» * CharleBton.— This company is re 
ported to have leoordeil a Ciusolidat d mirtgage for $t5.0oO.- 

000, of which part i4 to pay for oonsiruciioK its Im- fr>m 
Weat Brownsville, Pa., up the ilonongaheli Valby in.o West 
Virginia. 

Ralir»a<l Hates.— A dispi ci ttova Gtaica<o to the St. L tan 
Olobe-Denwirat says: 

The EMii'tn rmiioml .lllclaiB wrn qiiila prompt lo uaTvIni? out the 
lostrui'iiimn of tile i>r<'i.l<l«uio. Tbe (Jmo igo ami St. Luali liiiei iu IHe 
Cent r«lTr< 111 (■ As in.-l*ii"ii UeUl » luepiluK and ui ule arrauitinuaun for 
tho reHoratl " •" .•i.si-i.immkI freijiiii ra:. » Jiilv -. Bates 011 wralu ami 
lis l>rwiluils will b« restorer! 10 tbe h«->is"f ioo. per 1 o ixmuil-'. Cui 
oaiCM 10 .>«» »..r»: (>n>>i«iouii an.i live bo;(!> to 300. per 100 pound.': 
slxita olSJis fiei»lil lo :^Sn ptr 1.1 O poui.iln flfiU ela«9 10 oOo. per liu 
pounils, ami Imlk meals lo ane. per luo pouml.t. Tbese are tin- only 
anleipK on wlili-h open ri<luetl.>iis In rales have beou mjile. Under 
the Inslnicilont reo<-iveil all seurel raie-oultlnK iiiUjl oea<e at ouce. 

Ibo cooiinltlee of ten i» mill at work on lUe propospd dlvl ion of 
traUo aKTeenieut lu u» euu^red Into by ibo ea^itbound roadi. i'Uis is 
not to b« a money pool. Toe Idi^a ot eveol.iKUp lti» perceul'i^es by 
oasb paymeMi has b'ep abandoned The . vtnl k up >^ i" I"' doue by 
dlvirsioo ot iraffle from ro.ad» whio 1 have uarried more tUin t.ieir al- 
lotted peroeuUKes to roads whiob have run short. 

The resolution which was adopted at the meeting last week 
Thursday by the chief executives of the reads operating be- 
tween New York and Chicago, under which the above-men- 
tioned changes are made, was as follows: 

"That from July S. 1895, the prcsldentH or ehlef executive ofllcera of 
the oompanlen represented at this lueciinK pledg>^ ihsmselves to ab- 
•ointely mauilalu iha full putllsheil tarltfs of the east hound and 
wett-bounl fnliiht ate>« on all uliuses of cr.illic ns now authorize d by 
(olot commlttfc, until ten day* after wiltten ooilue is given tUo Com- 
mlmloneror th<' Trunk l.iue or Central Trattlo Association by any 
member of Us withdrawal from the agreement; and, further, any con- 
traetsat rates below I he authorized tariff shall be, on or before July 

1, flled wlib aald CoiumlssioDers. 

"Tbls resolution to i<e eonlinued In effect so long as It Is observed by 
all lines ht^rrto and which question of observance shotl be determined 
piomptiy by tha ComuiisMouers on complaint made. 

" p 1 at we al-o plidge ourselves th .t no eoniraets shall be made by 
our Hues which will prevent ihe operation ot tbe foreitolnif resolution, 
and we > ereoy > gree 10 plaueour xiguaturrs to this resolution as a fnr- 
tker fvldei.ce of our intent to taithiiiily observe its conditions." 

Anolher resolution, proposed by Mr. Depew, was adopte I, providing 
that Ihe yowcr of HxiuK rales on east-bound freiuhi tr>itli(] shall be 
vettid In a pt'rinanent commission to be appoinced by President 
Koberia. This step, it is staled, will do away with soliciting agents, 
who bave Id times past been largely responsible for the catting of ratts. 

Reorraiilzation Plans, etc.— Tbe following is an index to 
all drfaulis, fortoloiure sales, reorganization plans, the names 
of all reorgauizition committees, and all statements respecting 
the payment of overdue coupons, tliac have been publi:<rieil io 
the CuBc NicLE since the April edition of the iNVisroBs' Sup- 
PLKMhKT was issued, all earlier facts of this nature beiuif set 
forth in that publication. It does not, however, include 
matter in to-day's Chronicle. 

The following abbreviations are used: Plan for reorginizi- 
tion or readjustment plan: coup, for coupon payments; clef. 
for default; Com for committee. 
Page, 



Volume 60. 
▲tcblsoD System - 

Colorado Midland coup. 7«7 

do do Com. 872 

8t. L. M San Fran.. .. roup 1007 
Atlanta A Fmrida-ia/t .1007. lUH 
An^usta A Kuoxvllle... Com. ild? 

Brigautlne Ueacb tn/t. 11-11 

Bristol EUniii'n A N. C. tale lu57 
Oape Fear A Yadk. VaL.Oam.lUo8 

Ohauanooga Union tale,ll03 

Chesapeake O. * B. W ..rouo.lOOd 
Cbloago Peoria & at. l,..plaH.llA7 
CbloaffO* West Mloh...euM;>. 748 

(Jleve. Canton A 80 coup. 1144 

DlsUlllnir A C. F dr/.lOOO 

Georgia 8onth. A Pla ;»'««. 928 

Oratd R. A lDd...Co/n.lv58, llOti 
Kan. Citv Water Works. eoiip. »19 
Utile Kock A .Mei<iphts..>a(e. 967 

LoigUid. rractlon ;>/a>i.ll45 

LonlsT. Kvanav.ik 8t. L..Cam. 87.1 
Do do coup. 9B7 

Harlelta A. No. Qa tals.HiOa 

Middlatborough Uelt MUe.ll4U 



Foiitme 60. Page. 

Ullwaukee 8t. By dtf. yjrt 

Do plun.1009 

N. Y. Lake E. 4 West rf«/. utiS 

.V. Y. A Sew England ..coup. 10 JS) 

Norfolk & Wi^steru Com. 871 

North -ra Adirondack., sale. 9GS 
Northern PaciUo /Won 93<i 

Uo coup.lWO 

Ohio 8outhcrn Vom. s74. 1140 

Uo (<c/.1010 

Oregon Rv.*Nav..»«/e. 9(i»<,1147 
Oregon 8b. L. & U. Nor .coup. Htt8 

00 do. aalf,.lH7 

Peoria Deo. 4 Evansv . Coih. 930 

Do do ..coHo.llOB 

Pitts. Akrons W »o<e.lo5a 

8av. AmerlcusA Mont..pfan 871 

Uo do..caiip.ll48 

Tex. Louisiana <b Eist ..xiie.lOlu 

Toledo A. A. Jt N. M »(i(e. 9(ts) 

Union Pacido coup. 909 

Un St. KK. (Dover, N. H Itale. 909 
U. 8. Cordage p/«)t.loivi 

Do Com. 100 1, lie 



Sarannah* Western— Central of Georgia. -It is un e-- 
atood that the Borif Committee, representing tho Sivaunali 
& WeaUrn bondholders, have agreed to the Central of Gejr«i i 
reorganization plan as modifled, and which has been the oiib- 
ject of ceKOtiation durini; the week.— V. 60, p. 10.57. 

Sontbera Central -Lehigh Valley.— At Oswego, N. Y., 
last week, Supreme Court Justice Charles E. Parker entered a 
judgment in favor of the Metropolitan Truit Compiny, of 
New York City, against the Southern Central RR. Co., the 



licbigh Valley RR. Co. and Donald Mackay, directing F. C. 
Hill, referee, to stU the Soulhern Central. 

A reorganization committee consisting of Simon Borg, of 
Simon Burg & Co.; Garret A. Hobsrt, Paterson, New Jersey, 
and Henry S. Drinker, No. 228 S. Third Street, Philadelphia, 
Pa., with'W. A. Read, of Vermilye & Co., No. 16 Naaaau 
Street, New Yoik Ciiy, as consulting committeeman, has pre- 
wired the following plan (see adveriisir-g columns in today's 
Chboniclb) : 

Sew A'ee«ri/if»-A now compaDV shall become the purchaser of the 
properly at foreclosure sale and Issue the following securities: Com- 
mon ii(OfA-. *7(i9.1l80 ; preferred Ktock. 9 per cei.t noncnmulative, $3,- 
432,208 ; /«r»/ iiinrlguge, * per cent SOyear gold l)onrt8. *2,l)0(>,000. 
These bonds are to be 'ffunran/cfd ntoonditlonally as to ptin ipal and 
Interest In gold by the Leltgh Valley RR. Co. liy IndorBeiueut on each 
itond. It Is coniemplHted to sell to a syndicate the entire Issue at 85 
per cent and Interest less one-half per cent commission, the proceeds 
to be used for < qulpment. lo pay prior liens (llbO.oOO), for court, etc., 
expenses, and for immediate requirements. 

Kxchang'oi A'ccurt/ics- Holders of "baby" binds (those secured by 
ciDsol. uiortiago coupons) will uot he entitled to make separate de- 
posit of said bonds. In making deposit, esch bolder of a consolidated 
mortgage bond must not only deposit his bond but also the corres- 
ponding " babv ■' bond. »"d ,-iU unpaid mpons of both bonds. The 
holders of present eonaol idaleit mortjnge r> per cent bonds, with "baby" 
bonds end all unpaid coupons of both bonds, will receive for eaeb 
$l,UuObond: 
Cash, after ri oeipt by the committee of the proceeds of bonds 

if sold as aforesaid $3(6 45 

New preferred St 'ck 1,040 00 

If the sale of the said bonds shall f.ir anv reason not be effected, 
then io place or sild *3 t'J 4-'> cash the ho dec of each consolidated 
bond with unpaid coupons and ■■bibv" bonds and coupons as afore- 
said, will be entitled to filo in said new tlrst mortgage 1 per cent gold 
bonds. 

Holders of preaenl eominon stock may, 03 applica ion within six 
months after the organization of the new corporation, receive new 
stock at the rate of one fhareot now common stock for each two anl 
OLe-half sh^'es of Iheir old stock surrendered. 

rh« c >mmittee is authoi ized to declare tho plan operative whenever 
65 per cent of saM bonds (unless in their disoretlon a larger percent- 
age Is desirable) shall have been deposited. 

Honthern I'acillc. — The suit ot the United States Govern- 
ment against th^Southern Pacific Railroad Company to ob- 
tain possession of 700,000 acres of land in Ventura and Los 
Angeles counties was decided .".gainst the railroad company 
in San Francisco last Monday by the United States Circuit 
<'ourt of Appeals, This decision affirms that rendered by 
United .States Judge Ross about a year ago. The contention 
is whether the lands in question, which would have eone to 
the Atlantic & Pacific bad it completed its road as projected, 
revert to the Gjverument or to the Sjuihern Pacitic Co., 
which built a line running north and south through the same 
land^. The case will be carried by the raQroad company to 
tbe Supreme Court.— V. 60, p. 1103. 

Toletfo Ann Arbor <fc North Michigan,— At Toledo, Ohio,. 
July 2, thfi several properties constituting the Toledo Ana. 
Arbor & North Michigan Railroad were sold a second time, 
under a decree of the Federal CDurt, to R. C. Martin, of New 
York, representing the flrst mortgage bondholders, the pur- 
chase price being 83,6i7,000. 

The proptTty was sold in seven parcels, according to the 
decree, as follows: The Grand Trunk Division, for $7.50,003; 
North Michigan, for $800,000; the Mount Pleasant Division, 
for $1.50,000; the Cadillac Division, for 15)0,000. and the Lake 
Michigin Division, for $295,000, all to Mr. Martin. Ot the 
transfer boats. No, 1 sold for $50,000 and No. 2 for $76,000. 
Tne interest of the company in the remiining property not 
covered by the mortgages under which the foregoing were 
sold and 'he equity oC redemption in the Frankfort & South- 
eastern Riilroad, which is to be determined by the Court, 
brought $5,000. Th-se amounts aggregate $2,628,000. To 
procure the entire property it was necessary for Mr. Martin to 
bid more than that amount. He therefore bid an additional 
$1,000, and, there being no other bidders, the property was 
knocked down to him. 

The sale is expected to be confirmed within the next 30 
days. After the accounts are made up the receiver will be 
discharged and tne road takea i.i charge by the owners. This 
will be within the next 60 or 90 days. Articles of incorpora- 
tion and the new m rt^ige have been drawn. Tne new com- 
pany is to be known as the Ann Arbor RR. Co.— V. 60, p, 1106. 

Welsbach rommerclal. — This comoatiy was incorporated 
at Alb inv July 3 with a capital of $7,000,000, of which $3,500,- 
000 is ill preferred stock. The compmy proposes to manu- 
facture aLd deal in all kinds of devices for the production of 
liaht, heat and power. The directors are: S. H. G. Stewart, 
Emerson .Mcilillen, Jr.. W. F. Douthirt, J. H. ScoviUe^. 
Francis Eldrilgo, A. L. Paste, J. C. Haveraeyer, Robert Mur- 
ray. Coarles D. Llth-jow, E. J. Graetz, Elson Pearsall, J. L. 
.Nisbet and A. M. Pool.— V. 60, p. 1148. 

West Jersey. — This railroad conioany gives notice to hold- 
ers of its first mortgage 8 per cent'bonds, loan of $1,000,000. 
maturing January 1, 1896, that on demand, in addition to 
the payment ot the coupon maturing July 1, and until 
August 1, 1893, the said bonds may at the option ot their 
holders be redeemed at §1,015 each with the unmatured cou- 
pon due January 1, 1896, attached.— V. 60, p. 793. 

—The muDicipalities below named have recently awarded W. 
J. Hayes & Sons, of Cleveland, the following bonds : City of 
Buffalo, N. Y., $80,000 SJ^ per cents; Biy City, Mich., $50,- 
000 i pt-r cents; City of South Bend, lud. ,'$20,000 4 per cents. 
These bonds, along with other issues, are advertised for sale 

' in another column by Messrs. W. J. Hayts & Sods, Cleveland^ 

' and Boston. 



JPLT 6, 1895. 



THE CHRONICLK 



29 



llcpovts and iPocumcuts. 



PACIFIC MAIL STEAMSHIP COMPANY. 

EXrRACTS FBOM ANNUAL RKPORT FOR THE YEAR 
ENDING APRIL 30, 1895. 

Niw. York, May 1, 189d. 
The President and Directors submit herewith their report of 
the operaii tna for the year endiof April 30th, 1895, ana atate- 
menta abowiDf; the tioancial cond'tion of the Company at the 
close of the year. 

I.-EABXI50S AMD EXPEMSES. 

The earnings and es peases have been as follows : 

nit Ttwr. Lull Ttar. J*»€. or Dte- 

Oroti KantiHgt— $ $ 9 

XMslaKS— AUantto Una 203,828 71 170.938 0A I..V2.0»0<H 

•■ ~ PaaaaaUM 2.105.434 61 1.73<»,8« »7 I.374..-(8» &4 

" Tnas-PaekOo IJiiel.362,43fl 70 l.iSs.llO 16 D.ia.t.i*73 46 

T^telstaaawr sanlags 3,6*1.70005 3,400,003 79 1.291.606 2«'> 

I line 30.01)0 00 1>.90,000 0<) 

OoTsraaeBt Mr 

J«<aaUs 15,00000 1.15.00000 

OsBl. t la s rtoaii O aie i u —nU. _ 

fortnuuportattafBof man*. 65,00000 ti'ii-,. ... 

iaa.e«Uaeaoiisataceiio>M .. I30,300S0 ll i cj i:i 

Bzefeaan t«7,1068» i:il r.i >: 

Charter of •tcaowrs 28.763 19 «<■•.. i-~< ! 

Total oanaa KA>.<ii<(a*...4.0S7373 39 8334,ot<'j -.x I. 



In accordance with the praclice established in the last an- 
nual report to deduct from the earnings annually a sum which 
it was estimated would meet the general and extraordinary 
repairs of steamers, as such repairs became necessary, so that 
the year's earnings over expenses could reasonably be as- 
sumed as the sum remaininK after tabiog into the calcuUtion 
the average condition attendinfc the operations of the several 
I lines, there was deducted from the year'* earnings the sum of 
$150,000 00. No expenditures for this account, however, have 
b> en made during the year, and there rem tins to the credit 
of thia fund on April 80, 1895, tbe sum of |245,088 99. which 
liaa been deducted from the earnings in the year. 1894 and 
1895. 

II.— ASSErs AND LIABILITIES. 

7be following statements will show, comparatively, tbe as- 
sets and liabilities of the Company at tbe close of the years 
:&lil and 1^95 and the changes which have taken place therein 
dating tbe year just closed: 



A8SSTS. 
Apr. 30, 1805. 

Sleamer* 8,001,170 99 

Keal e«t«W A otber property. 885,639 10 

tMal. 8.886,81000 



A|>r. 30. 1894. 

7,089.674 19 
888,61011 



Iftf. or Dm. 

C 
I. 11.4!>6 80 
D. 2,071 01 



8.878.884 30 I. 8,525 79 



I 4k ao. K]r.po.'*5% 



41,144 71 03,868 10 D.53,98« 48 



■DdlJiDitOi 
iUue«30,000> 



•xp.-Atl«ntl< l.lnr . 108,36030 57.402 38 1' 

~ P>nunjt I.lae. 1.342.080 70 1,404.2(173 I 
" Tr. Cx-. UM . 816.582 78 903.333 00 D 



. Itnea... 
■xnnM.... 
I'Uaa for 



t axpsan «JM.032 S7 2.450.068 10 D. 107.0 i 

I aa4 extraoraiaaty !•■ 

lofslsamsrs UO/WOOO loo.ooono 

.^•788,042 64 52«.4.V2-ia I 

07,453 3* 10e.l7.«70 I . 

3.908.426 40 S.S41,aa*7» I 

77,54070 I; 

1 », aoo'M !■ 

M.<*1 l»i ~Tl6.o5t St U..V>, 1 1 ■> T ! 




li,i.-fr .111 M ' 
I . ir fr..ii. . . 



...rvraat 
vmarteMI 



34,000 00 
76.720 77 

4.807 95 
247.297 67 

I,*e3 67 

30S.439.V> 
0,188 .■>2 



45.600 00 

71,568 30 

11.330 65 

175,0.'M 42 

1,312 50 

263.206 89 
5,035 25 



O.21.600 00 

1. 5.101 47 

D. 6,432 70 

1.72.243 26 

I. 1,651 17 

1.39,222 61 
1.4,153 27 



708.051 70 666,476 20 1.42,175 59 



59,039 06 
44.166 66 



74,039 06 

73,500 00 
9.939 03 



130,37S71 103,205 78 1.56,173 00 



I. 15,000 00 

I. 81,333 84 
I. 0,830 65 



•mt A— ft * 



. u))iutad. 



Total sxraosa 



.-~..-i 



Total.. 



003 46 
8,8*407 



1,297 21 
10.108 21 
58,417 .^2 



D. 804 75 
D.7.8SS55 
0.58.880 57 



60,012 04 l>.ei.048 87 



XarBlB<s«r«r expvn***. ,...■-- 

•lMla4M 814 1,033 25 (or UcbtaiM* at Paoama. 

Comp«rin< the g«Mnl roaatis wltb thoM of Um praTioua 
raw, tbrra k aa iocnwo ia ktdm eMsioc* oC |SM.rra W, an 
I* in expeoaM of tlCeOBM. laariaK •uainn over ex- 
I71S.68I 97, an ineraaM ol $9S7,170 IB over tlie previous 

Tho*gw«— It with tbe Panam* R. S. Co.. under which this 
Conpaay wiibdvew iu linaof ateaoMm batweaa New York and 
Colon, waa temioatwi in Jona. tSM. Tb* threa steamers 
chartered to tbem were ntumcd and the Company ampidyed 
them la m eMahliahlng a(:> between New ^ i<rk and 

Cotoo. Altbaa«h th* low . .ich prevailed during the 

antire year on th* bniinam between tbaae poioU practically 
left no return npoii tha oanital mw sa w ited io this part of the 
Company's piaat. then remained a balaaoaof taO,M8 44 after 
fairmmt of operalioK expeoaca. _ „ 

ntba earainga U tha AOantie Una inoraaaed $51,970 04. 
Ther* was aa iaetiaaa ia pamm«ar aaynt n gs of W>^^ •& : in 
eiei«ht eamiact. 9».m9i, and $Ml 56 la misoallaaeous 
eamiDC«-a total increaao of I118.M9 15. But there waa a 
decreaM io m«U earnings of |«3.879 03. rMuliing largely from 
tbne harinc bam incladad In the repirt for 18N eoltcetiona 
for mail aerriea laodated prior to that ^ear. 

Iha tirafaiji of tka Plaaaaaa line increased IM.MT S9 in 




Tout property and assets . . . 9,763,704 ee 0,717,870 16 I. 45,925 50 
To maat the steadily increasing demaiiis for tonnage at the 
Mexican and Central American ports, the Company puchased, 
at a cost of $171.339 83. the Koglish steamer ';panterbury," 
and ohaaged ita name to "Axtac." This steamir was built in 
18M. haa steel hull, triple expanatoa engines, itross tonnage 
3,S08-4S looa, and was purchased at an exceptionally low 
price, aa will be seen by comparing her capacity and dimen- 
tiooa witli tboae of the other steamers owned by tbe Company, 
and Ibair coat. The coat of this steamer was charged to the 
twuflj aoooant of tbe Company, and there was deducted 
fniat taa aame aoooant the sum of $159,798 48 for an esti- 
depreciatioo in th» valos of tha Compiny's other 



Tba iacreaae ia ooal and ottier suppliea on hand for current 
oparaliono cowriata ol $81,745 40 in ooal and 87,477 31 in other 
sunalico. There were sold during the year 37 of the Bi. L. 
iTlL* 8 R'r Co. 5 pjr cant bjoda for $J1.12W3. and pro- 
* appiiM to the reduotioa of tbe Compiny's iadebtedaess. 

LIABILITIES. 
AprU 30. 1805. April 80, 1804. Inc. or !>■«. 
0,(MO( 



■■d$M9,t6Q97in freight. There was, however 
■all earalng4 of $8,040 45. and in mlac^llaneous 
of $7,888 97, leaving a gain ol $874,599 84. This gain 
aainly from the large coffea crops io tbe Central 
I Siataa, good crop* in Mexico, and tl>e improvement 
in amaral buainasa wbioh rMulttd tiierrf rom. 

Tiaaoaraia»sor tbe Traaa-Paoillc tin* abow a decrease of 
•m.87S U, mUch is. bowarar. only comparaUTe, and not 
real, aa be t wee n two periods of twelve montiM each. A« 
ataled in the Isat annual report, a change in the system of ar- 
ooonliog opTated to ioclude in that year'* report one addi- 
ttanai month'* transactions of tha agenciea at Sao Francisco, 
Tokobama and lioag Kong. We are therefore comoanng 
la tba above atatwasat twelve mooiha' baaiocss io 189.5 with 
Mrtaaa maatim' btniss of tbi« line in 1694. The termina- 
Moa of tbaoompaay's oontract in rtapeot to mail service, for 
(fe* TCMoo statad ta tba last anaoal report, resulted in de- 
Ciaaaliig tbe mail eamiaga $97,088 91. Taking into t'le calcu- 
Jatioo. therefore, tUa daoreaae io mail earnings, the addi- 
Uooal noootb's boatnesa lacladed in tbe report (or 1894. and 
ibedecrrsMi la travel and iotercbanre of commodities be- 
twf eo tbe Pacific coaat and China and Japan during the war 
4*l«caa thoaa two nations, the earnings of this line have 
kaaa i|aita gratifviog. and illoalntc tb* steadr progress of 
JaVOfto and exports between tha ooaattie* aerved by this |>art 
«t tbe company's line. • • • • 



Capital oio. k 

rvrrvnr UabilUttt. 
Loaaa sad l>Ul4 in^able. 

Aesaanta parable 

Dae afenetoa 

Daaeasmsettiuiii 
Uaa4[oat«4» 



.20,000,000 00 30,000,000 00 



•oseuals. 



107,641 58 

33.006 20 
68,108 81 

47.007 21 



504.800 06 

324.008 83 

63,007 43 

35.l>68 99 

65.000 00 



U504,390 06 
U. 11 7.356 74 

D.31,8S1 13 
1.27,224 82 

D. 17,032 79 



Tvtal 



XWkrrsrf LimkUUttt. 
CadalaMd dlvi. 



idrnilK 
OaMtlaatad soenunls. 



TWtaJ 

OmlinfHl lAabUUtt. 
Foad (or (eaeral and ex- 

traonllnarv rrpalr. of 

atoaiitrr* 'un.'tpon. 1.^.1 . 
Unadjiiptr.l ui-<-..untii 

Total 



330.SaM 80 



O.S1700 
65.246 33 

74.763 23 



■JO.J7T ;io 



804.273 70 D.643,414 00 



D.67 00 
1.38,041 76 



46,778 47 1.27.084 76 



0.87400 
37^304 47 



95.0H8 no 
5,303 44 



1.1.50,000 00 
1.14,97186 



363,3ne20 100,304 43 1.164,971 S6 

.* ^-.- =^ 

^■JSwiSoSl*" •*^^'".%0..'.00.n-.41 .1.041.446 60 D.450.458 28 

SjHSu^!^ .'..'. W,7«a.701tW 9,717,970 1« 1.43.825 80 



capital atnok and . Ilalitll- 
USSlnexoeaanrsasel*. 10.827,2<!l3 75 



11.323,567 53 D.496.283 79 

The current liabiiities have been reduced $848,414 90, and 
tbeexcemiof liabiliiies over available assets existing at the 
close of last yeai's report has been entirely liquidated. The 
oarrent liabilities remaining at the close of this year are in 
amount only such as grow out of the last month's transao- 



80 



THE CHRONICLE 



fVoL. LXI 



Uon^ ana lb*. ».^i» av.iUblo therefrom «<7/l "ru'o'^iies on 

h;rTru?eoSc«in^brcurn.nt a-eU and liabilit.es -lunnR 
the year aw summarized as follows • 

1^03. 



3i;ke Q^oxmntvcml %imt5. 



Oonent llabllitir* 

OorrcntsMet'-. ' 

daefromlli" 

Amwloaaii' 



290,959 80 

iTunnnti 
■••ntral 
, 48B,011«4 



li»01. 
BM,273 70 



Inc. or Dec. 
D.643,4ll 90 



440,836 02 1.36.07 1 72 



444,436 87 



A«»«>t« In exctM» of UdblUUe* . . .335,052 75 

Llablllllc* In exeen* of aMOts 

MakioK a gain of $679,488 63 for the year, 

III.-PROFIT AND LOSS. 

The credits and charge* to this account have been as 
follows : 



B Apr.aO, -Olfl 1,323.567 83 

Sstlmalad depreo'n «_-„,_ 
Invuliieofnteaiu'r* 150,702 43 
Ocn. »vpr. eiiH'n»ee 



luriiH I't uuiUTliil 

on Iwntl 

UncoUVtlbN' ncc'nt.t 
cbarK<xl off. 



52.062 01 

40122 
3,192 53 



$ll.S30,ei5 72 



Enmlnm o>;er ex- „,„.„,„_ 

Deiues fortheyear. $712,6.« »7 

BalanM Apr. 30, •98.10,827,283 75 



COMMERCIAL EPITOME. 

Friday Night, July 5, 1893. 
The national holiday fallinK at mid-week has served as a 
quieting influence upon general business and m many m- 
ManceH induced temporary postponement of negotiations. 
Nryertheles« the mrn.h has opened w.th numerous promising 
rndlcation. of an early revival of t'^dem all seasonable lines 
of merchandise, and there is a noticeable fee lag o cheerful- 
ness among operators. Values are as a rule well sustained 
and another advance has taken place in coat of P-K-ron. 
Speculation in staple commodities is of moderate character at 
the moment. Continued rains in the South we.st give rise to a 
feeline that growing cotton will suffer from excess of moist- 
ure. Reports regarding grain crop conditions are generally 

'^The^^oUowing is a comparative statement of stocks of 
leading articles of merchandise at dates given : 



f 11,539,915 72 



June 1, 
18»5. 



There was added to the Company's fleet during the year the 
steamer -Azifc" costing $171,289 28, which was charged to 
the property account of the Company, and the d^cr^aa- in the 
value of steamers, as estimated on Awl 30, 1895. ami the 
Talues reported for April 3», 1894, amounting to $lo9,792 ii, 
was credited to this account and charged against profit and 
Umt. Exclunive of the $1.-)0,000 charged against the year s 
earnings for general and extraordinary repairs of steamers, 
there was expended in making current repars on the t^oin- 
pany's steamers-that is, repairs while the steamers are in 
iervice— the sum of $280,018 53. This is about $85,000 more 
than was expended on repairs during the previous year; but 
the Company's fleet hai< been mate'ially improved by this ex 
penditure. and the steamers are all in excellent physical con- 
dition. • • • • 

Vr.-GENERAL REMARKS. 
During the year the existing mail contracts with the Re- 

gublics of Oosia Rica, Nicaragua, Honduras, Salvador and 
foatemala were extend* d, and all arrears due for mail 
Mrvices satisfactorily adjusted. ...... 

The expectation expretsed in the last annual report, that the 
then existing fl lating debt would be liquidated from the 
earnings of the ensuing year, has been fully realized. This 
debt has been discharged, a new steamer has been paid for-, 
the excellent physical condition of the Company's fleet and 
other property has been fully maintained, and the available 
Meets exceed the current liabilities U the close of the year 

by $283,053 75. . ■ v, • f ,i 

All indications point to an improvement in business at all 
ports served by the Company's steamers over that of the year 
Just closed. There is an improvement in the general com- 
mercial situation which will be evt-ntuallv reflected in in- 
creased earnings of the steamers, and we may therefore rea- 
sonably look forward to still better results in the ensuing year 
than were obtained in the year just closed. 

The need of additional tonnage was greatly felt during the 
coffee season, and the Company temporarily chartered two 
steamers to relieve the congested situation at the Central 
American and Mexican ports. The purchase of the steamer 
" Aztfc" will this year greatly relieve the situation there. 

The Board "f Directors desires to acknowledge its indebted- 
ness to the Officers, Aeents and Employees of the Company 
for the faithful perfo mance of their duties. 
Respectfully, 

C. P. HUNTINGTON. 

PreMdent, 



—The Central Trust Company gives notice that It is pre- 
pared to mike immediate payment of the flrst mortgage 
bonds of the New York Elevated Railroad Company, which 
have l>een c<lled for redemption on January I next, at the 
rate of $1.0'i5 per bond, less interest at the rate of 3 per cent 
on I bat amount from the date of presentation to January 1. 
The Trust Company reserves the right to withdraw this offer 
without notice or to increase the rate of discount. 

— The Reorganisation Committee of the .Milwaukee Street 
Railway Co. gives notice to bondholders, couponholders and 
BtockHoldrrs to exchange their holdings again-t negotiable 
certiflcates of depo^-it at the Central Trust Co., where a large 
msjoricy of ail classes of securities have already been de- 
pa sited under the plan. Di'poiits will not be received after 
July 15th. except in the di8>:;retion of the c immittee, and sub- 
ject to such penalties as may be prescribed. 

—Indiana Illinois ft Iowa RR, 5 per cent gold bonds of 1943 
are offered for sale by Messrs. Taintor & Holt. See advertise- 
ment. 



Pork "bis. 

tinrt tos. 

Tol»ooo, domeatlo .Uids. 

robaooo, foreign Ijales. 

OolTee, Rio bags. 

CtotTee, otter •>»?»■ 

Ootfee, Java, &o mats. 

lugar c— "^i*- 

Snrar '"«ftv'5S' 

^lolasses, foreign tmaa. 

aides ••■?<>• 

Ootton I'^e"- 

Bostn DDls. 

aplrtts turpentine bbU. 

M«>;E:i.v.V!.'.".V'.'-'.V-V-baf- 

aioe, domestlo bb 

lilnseed Jags. 

Saltpetre -baKS. 

Jute belts bales. 

«Ianllabemp bales. 

Sisal hemp ...bales. 

<noar bbls. and saoHa 



14,420 

20,856 

16 981 

64,610 

240,476 

80,007 

36.816 

3.002 

333,906 

13 

30,2' 

222,480 

18.212 

1.607 

3.225 

39,500 

l.li'O 

None. 

3.400 

900 

29.494 

14,321 

95,500 



July\, 
ItttfS. 



14,352 

17,977 

18.5>8 

64.145 

2S1,50J 

94 851 

24.537 

5,772 

516,696 

None. 

25.700 

198.760 

17,095 

1,226 

2.779 

46.000 

bOO 

None. 

2,600 

None. 

2ti,b6* 

12,078 

126,600 



July 1, 
1«»4 



0,056 

10,539 

1R.677 

47.642 

59,y63 

31,025 

71,1)06 

7,219 

624.220 

500 

203,300 

185,124 

16,140 

1,5«7 

589 

32,000 

575 

None. 

8.000 

2.9 O 

6,364 

3.793 

197,300 



For lard on the spot the demand has been slow and prices 
have weakened slightly, closing at 6-65c. for prime Western, 
6-15C for prime City and 7 10c. for refined for the Continent. 
The speculation in lard for future delivery at this market ha* 
been slow, and prices have eased off a trifle in response to 
weaker advices from the West. 

DAILT OUiBTSa PBI0B8 OF LA.BD FnTURBS 

Sat. Hon. T>us. Wed. Ihurs. Fn. 
T.,,„ c (i'80 6-80 670 6-70 .... 6-0 

le"fcbev::;:.:::::-.:-.:S: too 7S0 6-90 6-9o ^90 

Pork has sold slowly and prices have weakened a trifle, 
closing at $13 25 @ $14 00 for mess. Cut mtats have con- 
tinued in good demand for pickled bellies and prices have 
further advanced, closing firm at 7c. for P'ckled bellies, 
12 lbs average. Tallow has been in fair demand, closing 
firm at 43^c. bid. Butter has been moderately active and 
«teadv. Cheese has b-en quiet and easier. Fresh eggs have 
been in fair demand and fairly steady. ^ , . 

Raw sugars were more active, and the increased bu«ineM 
served to strengthen prices. Centrifugals quoted 3'4c. f )r 98- 
deg test, and Muscovado 3 13-16c. for 89-aeg. test. Refined 
sugars 8< Id with increasing freedom and at advancing pric^is 
for soft grades; granulated quoted at 4?ic. Teas a shade 

Coffee remained generally dull and prices weak on all 
gradfs. Rio No. 7 quoted 15=^c. for flat bean; goodCucuta 19c. 
and standard- Java 37@27i^c. Speculation for future de- 
livery was slow and irregular, with average tone weak and 
close dull. 
The following were the final asking prices: 

jaly 14 350. I Oct 14 60o. j Jan U-iOo. 

Aue 14500 Nov 14-55o. Feb }f.S5?- 

fept.. 14-550. 1 Deo 14-500. I Maroli 14-350. 

For Kentucky tobacco the demand has beeu slow, but prices 
have held steadv. Sales 150 hhds. Seed l^af totiacco has had 
only a very limited call, but prices have been without change. 
Sales for the week were 1.275 cases, including : 200 cases 1892 
crop. New England Havana, 18@35c.; 50 cases 1893 crop. New 
England seed. 13@13c.; 150 cases 1894 crop, New England 
Havana, 15@17i^c : also 550 bales Havana, 65c.(^|l 05, and 
300 bales Sumatra, 60c.@$3 25, in bond. 

The speculation in the market for Straits tin has continued 
quiet, but prices have advanced in response to stronger for- 
eign advices, closing firm at 14-20® 14 30c. Ingot copper has 
advanced a trifie and the close was firm at 10-60@10 653 for 
Lake. Lead has also advanced and closed firm at 3 80@ 
8'89^c. for dom>=siio. Spelter has been quiet but steady, clos- 
ing at 3-60@3 62i^c. for domestic. Pig iron has been m de- 
mand at advancing prices, closing firm at $11 50@$14 for do- 
mestic. , . , ,, . 
Refined petroleum has further declined, closing dull at 
7 80c. in bbls., 5c. in bulk and 8c. in cases; crude in bbls. has 
been nominal; naphtha, 9-25c. Crude certificates have also 
declined, closing at $1 43 asked. Soirits turpentine has 
weakened a trifle, closing dull at 38?^(329i^c. Rosins have 
been quiet but steady, closing at $1 55®$! 60 for common to 
good strained. Wool has been in fair demand and firm. 
Hops have been dull and without change. 



JCLT «, IMS.] 



THE CHRONICLE. 



31 



COTTON. 

Friday Nioht. July 3, IMS. 
TBS MOTKMSNT OF TBE Cbop, as indicated by our tele^n s 
firom the South tonight, is xiven below. For the week endin ^ 
Ibii ereniiiR the toUU reoeipti have reached 3,795 bales. 
■gaiiiat 9.233 bales la^' '^^^k ^nA 15,511 bales the previou- 
w«ek, making the tokti -^ince the Ist of Sept., 1884 

T3ii,930 balea, against ' >ale3 for the same period o( 

18M 4, showing an increaste since Sep. 1, ISM, of 1,951,174 bale*. 



In addition to abo^e exports, onr telegrams to-oight also 
jive 08 the following amuunta of cotton on shipboard, not 
cleared, at the ports named. We add similar figures for 
New York, which are prepared for our special use by Messrs, 
Utmbart ft Barrows, Produce Exchange Building. 



Muilplimt- 


Bat, 


JToit. 


IWr 


Wt4. 


Tkun. 


m. 


Total 


aalTaaton 


US 


38 


108 




a 


,,,,,, 


373 


7aiaaao, Ae 


.«•». 


•««•• 


•••••• 







a 


43 


■avOrlaaas.. 


«M 


33 


641 


M 


189 


31 


1,432 


KobUa 


88 


1 


4 


7 




1 


51 


rionda 








•••••• 


• •••• 


••>••• 




•avaanak 


9» 


ISS 


6 


71 




s 


167 


Bniaaw%*«. 


...... 


•••••• 


...... 




•••«*• 








7 


7 




8» 


■ •«■• 


tl 


63 


PtBoratta. 










•••••- 


•*■••« 


• •••• 


WOBlaKioa.... 


4 


S 


8 


■•■■.. 


•M.»* 


ft 


S3 


Waah-toa.**. 




...... 




...... 


•••.•. 






Vorfttlk. 




18 


1 


» 


7 


» 


32 


WestPolBt... 


»•••> 


<•>>•• 


SO 


...... 




88 


88 


N>irt >..*•. 


317 




...... 








317 


■ev Turk 


..... 




»..*• 


....« 


•*.••. 




...... 


Boston 


as 

tie 


IM 


45 


60; 




fSO 
76 


MS 


Baltlaore 


193 


PhJIadelph'aAe 


S39 





1 







10 


839 


Tot'U thU week 


1,«M 


398 


868 


198 


148 


49Sl 


8795 





0« tatPBOABU, HOT OLBABBO- 


-FOB 


Zeatino 
SIxk. 


JulgSul— 


Ortat 
SrilaiH. 


w.^-.. 1 Other 


Ooatt- 
wiw. 


RXOi. 


.VevOitoans... 

Galnatoa 

8aTaaaali..„.. 

Mobile 

.Vorfolk 

Sew York 

Otber porta 


4,876 
None. 
None. 
None. 

3,000 
Nona. 
l.iOO 
3.S00 


None. 350 
None. None. 
None. 3.000 
None. None. 
None. None 
None. None. 
3(iO 6,(50 
None. 1 1,000 


363 
500 

None. 

None. 

None. 

2.5 a 

None. 

None. 


5,549 
SOO 
2.000 
None. 
3,000 
2,525 
7,550 
4,500 


100,310 

10,317 

9.948 

19,319 

6.536 

13,100 

198,463 

28.339 


Total 1895... 


13,576 


300 9,400 


3.388 


3^,e64 


385,151 


Total 1894... 
Total 1883... 


5.909 
S4.4M 


400 14,l«0 
2.452 1 37.805 


4,146 
3.363 


34.655 
57,o70 


282,267 
308,457 



The f oUowtng show* the week's total receipts, the total sio> • 
Sent. 1 . 1M4. and the stock to-night, oompand with last rear. 



Julg 3. 


18»»«ft. 


1888-84. 


m 


wk. 


Wfk. 1, 1894. 


rait 

WMk. 


OhM**^ 
1.18ft. 


188S. 


1884 




178 


\jntjo9m 


440 


1,009.703 


10,747 


0,393 


▼ataaoe. *•. 


«S 


78,818 


863 


43,oea 


••>•«• 




■swOttaaaa 


1,48S 


8388.S81 


8,001 


1488.777 


105,700 


84.991 


HsMIa 


SI 


188J8I 


96 


1*7404 


843« 


4441 


rtortda 




9»,a8* 


8 


88401 






OaTsaaafc... 


967 


•MI,M8 


1,100 


800.980 


ti4«ai 


8431 


Bi'wIak.A* 




188.808 


•74 


80441 


8480 


8S4 


Okarlsst—.. 


«8 


«S7,4M 


41 


887478 


U4iS 


18,039 


r.B«yai,Aa 




100.781 




80407 






VUataataa,. 


93 


884,491 


8 


1881401 


8488 


t4iS 


Waaa-B.*e 




888 


••••n 


480 


.... 


•••■■ 


■orfolk 


89 


«88,«M 


878 


480.IS1 


l«49» 


13468 


W««t Polat 


88 


986,01» 


880 


».0.1I8 


838 


7i3 


rp-tN..*« 


817 


48,800 


78 


01404 


9 




■sw York... 




187.107 




70480 


900419 


170.1 »4 


■•atoa ...... 


M8 


104.054 


too 


100.180 


4400 


540C 


■aWa^a... 


IM 


118.005 


»n 


60488 


1I48S 


8,9 :« 


rklla4«L.*a 


••8 


148.880 


898 


•7479 


84M 


S.448 


TMala.... 


8.7H.7,8«4JM«| 


M^ul 


•4«8.77B 


410 SU 


988491 


'2M6*tim 


aaiia 


isaaitaart 


W^Mima 


ftlDCa ftlfiaii 


««rcL. 





In otdsr Chat ooapanaoo may b. 
giw bolorw the totals at leading por 



h otbor yoora, wo 



W$mtrH ■! 


1800. 


1804 


1888. 


1888. 


1881. 


1800. 


Oalraa'a.As 


833 


803 


1.104 


1.181 


1488 


4t 


■ewoitoaa* 


1483 


84*8 


S.194 


Mlt 


1468 


631 


HobUs...... 


51 


80 


47 


300 


177 


10 


OaTBaaab.. 


387 


I.IOS 


8,441 


1413 


1470 


»8 


Ohaitaa.Aa 


•8 


44 


l.tM 


140 


848 


St 


WUm*taa4te 


93 


8 




118 


83 


14 


Borfelk.... 


83 


879 


801 


898 


054 


65 


V. POM,** 


808 


I41« 


780 


908 


041 


IS 


AUothsn . 


1.980 


9.177 


8481 


8405 


1448 


908 


TM.tkla»k. 


8.700 


10.110 


16484 


191874 


8407 


1,077 


8!n«a8af«.l 


78444001 


8003.770 


8010.000 


7089487 


0870.443 


5781,304 



Spccnlaticn in cotton for future delivery at this market luts 
been of fair rolome, but under a feverish, irregular tone. 
The bnainrss was largely confined to the circle of local opera- 
tors and their moTements were guided in the main by weather 
reports from the South and the views entertained in regard to 
rendition of growing crop. Saturday's markt t was firm and 
made 5 points net admnce, stimulated by unfavorable con- 
struction placed upon crop progress and getting some aid 
throtigh improved foreign advice*. The Monday morning 
advices brought report of heavy rainfall in Texas during the 
previous day. which incited quick and liberal covering and 
left the marh^ at 13 @ 13 points net advance. Tuesday 
opeoMl 9 points lower, but a renewal of poor crop aooounta 
' promptly stimulated demand again, under which prices re- 
covered, until 1 point net gain was shown for the day, 
Wednofday was given over larsely to liquidating by both 
' longs" and " oborta," the opening showing 7 @ 8 points loss, 
followed by recovery and reaction again, closing at 8 points 
not dooUna. YiMterday business was suspended io observance 
of tho aatioBal holiday. To-day buiineas has been liftht and the 
tone easy, with prices lower under more promising crop reports 
and tonen*-* in Liverpool. Cott/>n oo the spot haa continued 
9423 I ^ atiraol attention from spinners aeekwK Hpecial selections, 
and pataco advanced, ciosinK at 7>^c. for middling uplands. 

TliolDlol »le* for forward delivery for the week are 606.6C0 
balsa, fbr Immediate delivorr the total sales foot up this week 
4.06S boloo, including 1,301 for export, 3,48S for consumption, 
— for opoonlaUoo and 100 oo contract. The following are 
Ifao oOoial quotations for each day of the litst WMk— 
Juno n to July 5. 

Baaaa ob and off middling, as esublished Nov. 88, 1893, 
by tho BoTiakM Committee, at which grades otber than 
middttrs oHty he delivered oa contract: 

Mr e.l>« ea. 

ifiilli H OB. 

8tri«' at *s oa. 

OnM M, . „ *yt on. 

IDC *ta ofl. 



Ooed Ortllnarr e. m off. 

Oood Ml<l>innv Tinced... Bvea. 
Strtot MlitilllDK HUlned.. Ii. oO. 

MMdItnic Htalnod ''ta oO. 

Otriot I»w Mid. Buined.. *Sa o>- 
U>w MIddllnic Stained.... 1% o8. 



L.>w Mi.J.llhiif ''{a o'- 

SlrlotUAudUnllnarr lk,«ea. 

On Ihio booio tho prioes for a few of the grades would be 
Collowa: 



OPLAMDO. 



■at. 



eood OpIlBBfy 6^ 

U>w MMdltas ..I 6*,« 

MIddUBa I 7 

aooaMSd ihbk — 7»i« 

<Mdlla<ralr...... I 7V 






Taas 



6 



8'ia 



Tk. 



9*%. 






OULP. 



The oxpovta for tbowooKoadtag this ovaateg reach a tot^ I 
of 18.1IS bnleo. of which 8.1M wore to Orent Britain. 1,293 
■d 9,ft46 tothorortofthoOoatiaoot. Belowa>' 
for the weak and einoe Seotember t. 1M4. 

!«»«. U /«<( a ISM 



Oaw ortaaaa. 

Mo»ii« a p«a 



Bna«wt«B.. 



Will 



rr*! Newi, ar 
R«« Tort. 



>8i>aOa*»>.aa 
TMaL ... 

fMal. IKK!.* 



JM»S 



i.tm 



1^184 



I4N 



penisiar 



&7SS «M* MM>t 



>4M Mas 



IM t;i*8 



TMal 



OwLI. l«M 



^\V9 



MLTTO 

aM,>M 



«i.iii 



(lt,«U 



MI.Mi 



asjaa tr.is* 

T4,TI» 
iM,IM 



l>MSI 
4. IS* 



««,«:» 



»4«* 



••.s-t! 
a: 

ti.i 



tMJM 



SMH 
»3r», 

a.aa7i 

l«>J«4 

ML»;a 



3m« 

tr.ix* 

MloaM 

isu.au 

•40.BZ7 

ia3,.iiH 

4Sll33t 

tntM 

tOMSI 

107.1* 

TSJ.lI.^ 

tia.v\ 
9».n8 

aoas* 



Ooad Onllaarr 

[ffllgW 

ooorradiinic""! 
MiddMsiralr 



■•t. Mob 



«>»ia! 6>»,. 



8>* 



7n,, 
8«« 



Taaa 


Wa« 


Tk. 


Vrl. 




6... 
8a,. 


1 

O 

a 


6I< 



OTAIBBO. 




IMMdllns 

tlllddllnsTlnKed. 



i Bat. Hoa Taes Wed Th. 



5% , 

Si* 



5\ I 
6>l„' 

7'4 



5»» 

7'a"i 



8H„I 

6^ Hnll- 
••'".it' dajr. 
7»i« 



rri. 



7^ 



M««' isii*tjsMa«ltTuiTtMagNs«.«s&.'»t 



iMor loiiotjojWi 



'mMm \Mtt» a Miisi 



MARKET AND 8ALK8. 

The total saleo of ootton on the spot and for future delivery 
each day during the week are indicated In the following 
«atement. For the convenience of the reader we also add 
a oolnmn which shows at a glance how the market closed on 
same days. 



Sat'dsy . 



8POTMABSBT 
OLOSBO. 



Finn . 



Mondar U<ili<t at <aadT. 

TOMday Pirm 

Wmrdar steady at<tnSd. 
Thiu»4'y 

rndar.. siaaOf at >u d«, 



ToUl 



I 



SAUU or SPOT ABD ooaTaAOT. 



I OOH- 

rnrnp. 



uTTn 



401 ( 
80o' 



83t| ... 
68' ... 
1071 ... 
7*71 

Holl day. 
57i, ... 



Oon- 
tnul. 



1 4011 9,408 ' 



200 

ico 
ioo 

400 



Total. I 






1,335 
258 
»07 
897 

■ 672 



4.000 



59,000 
1»0,900 
135,300 
170,700 

'isojsoo 



600400 



82 



THE CHRONICLE. 



[Vol. LXI. 



Th« AkLMi AMD PaiCEs or 
(oUowios oon-prehensiTe Uble 



Funntu *re shown by the 




IH9S 1R94 1883. 1892 • 



J,?S'e°^ru?/'^." .r.!:^«SS ^■%'1:S88 ^'^?^.-r ^''^^i^ 



Itook at Hamburg -. „^.„-„ 

Stock at Bremen ^?f'22x 

3took at Amsterdam ^°'S)K 



Stock at Rotterdam 

Stock at Antwerp ' 

Stock at Havre 

Stock at Marseilles 

Stock at Barcelona 

Stock at Gf^noa..—- -• 

Stock at Trieste 

Total Continental stocks, 



200 
13,0UU 
415,000 
6,000 
92,000 
60,000 
29,0OU 



162,000 

14,000 

200 

14.000 

395,000 

7,000 

79,000 

13,000 

35,000 



147,000 

17,000 

200 

10,000 

390,000 

8,000 

103,000 

2i,000 

26,000 



134,000 

2G,000 

200 

7.000 

417,000 

10.000 

97,000 

17,000 

42,000 



954.200 754.200 737,200 756,200 



TotalEaropean .to*..... 2325.200 2,135.200 2,127,200 2,341 2^ 



163,000 101,000 g0,000 

01,000 71,000 9 \000 

13.000 29.000 36.000 

410.815 306.922 365..S27 

64.724 79.336 125,780 

6,501 6,.'i85 2,419 

^„^, ^,^ .„r,.^ 3,247,240 2,729,093 2.826,926 3.274,073 

Of the'abOTe'."totars'ot American and other descriptions are as loUows: 

r Iv^ool" stock bales. 1.4?8.000 1,159,000 1,112,000 1,348,000 

L,tTerpooi SHjoa..— u<.to=. • -^^ Voa nnn cnn nnn .IfiA.OOO 



Indlacotton afloat (or Europe . 
Amer.oott'n afloat for Europe. 
EgTpt.Biaill,*c.,afltforE'r'pe 
Stock In United States ports. . 
Stock in n. 8. Interior towns. . 
United States exports to-day. 
Total visible supply.... 



125,000 

80,000 

29.000 

517,778 

174,544 

6.556 



Continental stocks 860,000 

American afloat for Europe... 64,000 
Onited States stock ^P-Sii 



64,724 
6,501 



United States InterlorstocKS 
United States exports to-uay 

Total American 

BatI Indicn, Brazil, <te. - 

Liverpool stock 

London stock 

OonOneutal stocks „, „«^ 

India afloat for Europe '°2'5?9 

Egrr.. Brazil, 4o., afloat 13,000 

Total East India, *o 413.2o0 

Total American 

Total visible supply 3,24 



688,000 
71,000 

306.912 

79,386 

6.585 



600.000 

911,000 

365.527 

125,780 

2,419 



566,000 

80,000 

517,773 

174,544 

6,556 



2,S81,o40 2,210,893 2,325,726 2,692,873 



134,000 

9,000 

94,200 



214,000 

8.000 

166,200 

101.000 

29.000 



243,000 
5,000 

137,<O0 
80,000 
36,000 



228,000 

9.000 

190,200 

125,000 

29,000 



Middling Upland, Liverpool.. 323.<nd. 

Middling Upland. New York. . 7iao. 

Eg.vpt Good Brown, Liverpool 6ii)8d. 

,_ Pefuv. Rough Good, Liverpool SSigd. 

fc Broach Fine, Liverpool SiSisd. 



.MS',200 .'v01,200 581,200 

"". 2,834;046 2,210^93 2,326,726 2.692,873 

240 2,729,093 2,820.926 3,2"4.073 



4d. 

740. 

5d. 

eiiigd. 

4ii.d. 

3iSied. 



4381. 

80. 

5B„d. 

6 13d. 

4l,«d. 



ijS: 



3is,6d. 

6d. 
3»ud. 
3i>i6d. 



16<1. 

Tlnnevelly Good, Liverpool . . 3»8d. 

HT The imports into Continental porta the past week have 
been 64,000 bales. . . 

The above figures indicate an increase in the cotton in sight 
to-night of 518,147 t)alea as compared with the same date 
of 1894, an increase of 4-30,3!4 bales over the corresponding 
date of 1893 and a decrease of 28,833 bales from 1892. 

AT THE Interior Towns the movement — that is the receipt 
tor the week, and since September 1, the shipments for the 
week and the stocks to-night, and the same items for the 
x>rreBponding period of 1898-94— is set out in detail below. 




i»2 ?!S 







w 


a 


: : f : P 


► 



* iBoiudes sales la September, (or September, 29,10'); September. 
Ootober, for October. 221,600; Sspte.aoer-N'ovenabsr, (or November 
413,000; Snptembar-December, for Decembar. 1.162,0J ": September 
January, for Jacuary, 3.175,3 1"; Septemlier-Pebruarr, for Feoruarv 
801.900; Heptember-llaroh, for March. 4.373 I'l..; September-Aoril. 
for April. 620.2iMj: September .May, for Mar. 1.554.50J. 

The following exchanges have been made during the week: 
•09 pd. to exoh. 200 Aug. for Oat I -IS pd. to exch. 100 Sept. for D ic 
•10 pd. to exoh. 1 .500 Aug. for Oct 02 pd. to exoh. 100 July for Aug. 
•18 pd. to exch. 600 Aug. for Dec. I * 

Thk V1SIBL8SOPPLY OF COTTON to-niKht, as made up by cable 
and telegraph is as follows. The Continental stocks, as well as 
those for Ore«t Britain and the atloat are this week's returns 
and oonaequently all the European figures are brought down 
to Thoraday eveninir. But to make the totals the complete 
figures for to-night (July 3), we add the item of exports fron- 
ibe United States, incluling in H the exports of Friday onl- . 






"-•^i: '-'! I I '-'00 

ODX. O - Ol^^ 



0'^Oy*X<XiDtCS*-C-JriOi-'',^iTrWt01''CDOifO<D©CnOS'^T"e.^t-'» 



00- to; cs o c- 



^ CS a^* 16.W O •-' 1^ t^ >:* to tUut 03 ^ A. ,p. CC CC -. MOtif^ 



3 



if 



SrSS 



""I 






u io a ^"^ ^ 

at ^*»cioco-*towro(0 '^c^uutotv-i ciiad»0LicciO9 9:u3}C0 -^ 



OO: en «^, 04 <a A lU. lb, M CO C0O>; MtOV>lbl^OkO^ kS. 



CO 1^ 
COOM 



h- . eo»-- os-^to 



t-»i-«r-C;« lOMl- 









Sri 

J B_ 



* Louisville flgureB " net" In both years. 
I This year's litres estimated. 

The above totals show that the interior stocks have decreased 
luring the week 3,146 bales and are now 14,662 bales less 
than at same period last year. The receipts at all the towns 
have Duen 1,585 bales mor« than same week last year and since 
Jept- 1 are 1,311.019 halM more than for osme tim^ m 1893-91. 



JlLY «. 1895. 



THE CHRONICLE. 



33 



(^OOTATIOJCa FOB MIDOLINO (JOTTON AT OTHKR MaBEETS.— 

Betow we give closing quotationa of middlinK cotton at South- 
ern and ot^r prineipiU cotton marketa for each day of the week. 



Wmk tndina 


ouMoia qooTATion roa Mtoouifo oorroa o«— 


jHtg S. 


JWitr. 


Mon. 


Am*. 


radNM. 


nun. 


#H. 


OalTwtoa... 
HawOrlaaaa 

ItoUls 

teTHuah... 
OkarlMtoa.. 
Wnmlnirton . 

Horfolk. 

Boston 

Baltimore. . 
PhlladelptUa 

Ancnata 

lI«npUa.„ 

StLooU 

He«aton..„ 

flaiMinll 

LMdmllla. 


S' 

6% 


6»»„ 

7 

e»» 

7 


ail,. 

Si* 

7 

0\ 

6% 

'7" 

7 


6i>i 

7 

7 


■i 
n 


6!>l 

611,. 

7 



Ooloabiu, Oa. 
Ooliiitbiu,MlM 



I>ewtwrr7...._ 6>4 

BalelKb „ 7>« 

Selma. «%«7 

Bhrereport..... 6*]( 



The oloain^ quotatioos to-daj (Friday) at other important 
Soatbem markets were aa follows. 

e>t Little Koek.... 8 
<l>4 Moot«oiner7... t\ 
e NaahnUe....^ «> 
SVt KatolMi ^ 6li« 

BB0KIPT8 FBOM THB Pl.A!rrATIO!C8.— The following table 
I n d i e a ta s the aotaal nooTement eaoh weak from the plantation*, 
rhe fignraa «lo not indade ovariand neaipta nor Sontheri 
jjOMunptioa; tbey are simply a st a tement of the weeklj 
norement from the plantations of that part of the crop wbict 
flnalty reaches the markM throoch the oat ports. 



ITMk 


HutttUtthtrwrU, 


anmtlmttUrTtmm. 


jimv*/*** nwuiM 


*■**"* 


urn. 


MM. 


IMS. 


IMS. 1 ISM. 1 UN. 


lasi. 1 ISS4. 


ISM. 


Usui... 


SUM 


IIUKS 


MM 


MI.M1 IflLWSIoLen. ukmI MIS 


IKI*» 


Jm» 1.... 


Si,M 


IMW 


isjsJ 


isrjM 


luiut 


»« SSM 


*/tt 


• 1*.... 


w«n 


tajta 


»M«» 


MMM 

ua.:M 


HLMI 


T. •M4 


iOMI 


- tl... 


■MM 


IMMl 


UJI4 


H.MT 


IMw; a.MS 4.tM 1UH7 

«4.»«l am UM ■ •<• 


' m.... 


IMM 


IMM 


*m 


IMkMI 


MiM 


•ilT J. 


lajH 


MUISI 


a,1M>tM.>Ml 


TtMsl 



The above statement stews: 1.— That the total r* eeipts froa 
the planutiooa sinoe Sept. 1. 18M. are 7.84».81» bales: U 

W^ were V M,«M bales: la 18M48 were l>,007.Ma balea. 

i.— That aithongh the reeslpto at the oatports the paM wrei 
were 8.TS3 bales, the aotaal movenesl fr 'atioii»wa> 

only M» bales, the balaaoe being tak> ' stocks a 

the interior towna. Lsal fear tte l e c eiBM from tno plantation ^ 
(or the week were S,no balsa aaA for 18M they wer. 
0,ni balsa. 

OTBBLAjro MoTBxnrr roa rm Was ain> stxcB Scrr. i.— 
We civ* below a staiemeat sboviiiK the overland movemrnt 
for tae week and sinoe fl ip H t hw 1. As the retams reach n> 
by teknaph lata Friday altbt H ia inpoasible to enter » 
laigaiy into detaO aa ia oar refiilar OKinthly report, but al 
tba prineipal ma t ta rs of h i tai a M are given. This werki; 
pu" 1 isof eoofaeaapplsaMBtary to the more ezteadad 

D. itemenM. The rsMdta for the week ending July 9 

ai ^^„ .^pt. 1 in the last two years are as follows; 



Jilt i. 



Vla nt. U>ala._^ .^...^.. 

Via Cairo. — ^ .^^ ..^^ 

Via Banolhal ^ 

VU ETUtTlllf 

VlaI>oamillr , 

Vla( Inrlnnstl „ 

V(» other i'>ut«, *e....^ ...... 

Total croM ornlaod..^..... 

OrcTlaod to H. Y., Boctoa. As.. 

Brtw*ea tstnlsr lowoiL 

iDlasd. ae.. troai Soath. ....._. 



Total to b« dedoet«d._. 



4,010 



18« 
SM 

i,t7a 



«.87» 
l.tP9 

72a 
3.4ae 



3.ns 



Wmk. 



M4.7M 
545 

M17| 

ir7.s«o' 

140.«»7< 



747 



l.«73 
1.07*' 



1.774.«4a J.737 



»ee.725{ 
77,704* 



l.SM 
14 



579,400 
t.MM»l 



1.70^ 
2j07» 



504 97« 

350,797 

li,7S« 

7,>«» 

lao.ioi 

I0»,a77 
155.541 

l,no.«47 

a55J«" 

103.133 
'T1S.353 

T»5.68» 



T.''*Tta a tetal aet ov«rtae4 ' 
'* I'.cladtsiMiviMMtby ralfte 
The (otaaolac shows that the week's net overland movemeni 



this 



year has been a.383 bales, agBiasl 3.080 bale* for tbr 
:1a UM. and that tor the I ^^ 



''«rlan«<«xhlhlt»aa *xf»m over a rimr 



to data the agsrente n 
Kar asn of SM.mbala*. 



,te 11*1 




TmUmft. 

R*r.<|p'» ,f _ 

Vm otaiUsJ 10 Jal 
5oaia«ra cosoi 



7»6.ft8.^ 
e35,«t0 



Total m*rt«ts4 ... 
IbUti.t .1... k«laMe*<w 



9,53».1«S' 31. 149 7^37.51 1 



15.949 
9,858 577 7480,S<9 1 

5.425 1,957.111: 13.994 I.515.74A 



iBMig' 

.»m hjr tbo abova that there has rn me iatc sight 
l^.OSI balea, agaiaM 19,»l» bales foi the 
•> ^1, mmI Mwt the tnersaii i in itonnt in dglit 

tc-iiKlii «• compafMl with last rear in •.MS M« bales. 



Weather Rt ports by iBLEGBiPH-Our tflegrapbic ad- 
vices this evening indicate that the weather has been less 
favorable the past week over a large i>ortion of the South. 
Rain has fallen in almost all localilies, and at a number of 
points in the Gulf 8taif s the precipitation has been excessive. 
A number of our correspondents state that damaKe to the 
crop is claimed as a result of too much rain. In Northern 
Texas alio there baa been too much moisture, but in the 
remainder of the Slate cotton lias improved somewhat. 

Qalveaton, Texas. — It has been showery on three days of 
the n-eek, the rainfall reaching fifty-eight hundredths of an 
inch. The thermometer haa averaged 63, the highest being 
8S and the lowtst 78. Rainfall for June one inch and ninety- 
nine hundredths. 

Palestine, Teras, — There has been rain on three days of tbo 
past week, to the extent of one inch and thirty-five bun- 
Iredths. The thermometer has ranged from 68 to 90, averag- 
ing 79. June rainfall five Inches and t^entv-nine bun* 
dredths. 

HuMttviOe, Testis.— We have had rain on fourdays of the 
week, the prrcipitation being one inch and twenty-two hun- 
(irolth*. .-Vverage thermometer S2, highest 94 and' lowest 70. 
l> inoDth of June the rainfaJl reached seven inchea 

Bi 'ir hundredths. 

Lniuiix, KjYM. — I here has been gome improvpraent in the 
weather during the week. Cotton looks tM Iter except over 
the northtrn portions of the State, where heavy rains have 
damaged the crop. iCarly plantings are fruiting generally. 
It haa rained here on three days of the week, the rainfall be- 
ing Hve inches and thirty -three hundredths. The thermome- 
ter bas averaged 80, ranging from 06 to 94. June rainfall 
eight iaobes. 

Skntilnfoaio, Texas.— It has been dry all the week. The 
thf Hito w"''-r >><i'« averaged 8i). the highest bring 94 and the 
lowrst ~ rainfall two inches ai.d nine huDdredths. 

LuKnj .«-\Ve have bad rain on ooedayduiing the 

wetk, to the extent of three hundredths of an inch. 'I he ther- 
moneter hasav«ragfd M. ranitiug from 74 to 96. Month's 
rainfall t-ighl inches and fifty-one hundredths. 

Columbia. Ttjcaa.—lt bas been showery on one day of the 

wf-'- •*■•■- itatioo being ten hundredths of an inch. The 

t)>' ' ranged from 7'i to 9*.', averagiag !<'.2. During 

th' J ai-c! the rainfall was six iccbts and eigbty- 

eu dibs. 

rrta.—TYete haa l>e<'n rain on two days of the past 



w(«'k, \h» t 
Average thn 
rainfall < 
Brml 

the we>-i 
of an in 
beint; 1' 



ll, 
th 

ilk: i'l*- 



d 



sixteen bnodredths of an inch. 
i>ighe>t iM and lowest 70. June 
:<>■« aim ><izty hundredths. 
<.— We have had thoweis oti two days of 
'-'piiatioa reaching tweatv six hundredths 
thermomettr bas aversged M. the highest 
lowest 74. June rainfall seven inches and 
■dth*. 

r^iu.— There has been ooe shower the |^t wetk, 
'•*-irg forty-eight hundredths of an inch. The 
; lias sreragtd 79. ranaiog from 60 to 98. Uur- 
>titli of June the rainfall reached five inches and 
ninetT-flve hundrtdlhs. 

tort WorlU. T.-jii*.— We have bad rain on four days of the 
week. Ill* rr' ;l reaching three laches and thirty hiui- 

drmlits. Ti<- iieter has ranged from 66 to 93, avrr< 

aging 80i Batafall for the month eiitht inches and aixty-eigbt 
hundtrdtha. 

n^soMsf^bftf, Teams.— Rain haa fallen on five days of the 
week to tlie extent of three inches and thirty-one hundrndths. 
AMn|Uk|nnometer 79. highest fi and lowest 66. Uuiiog 
J^^^^^BU to ihe extent of seven Inches and twenty-three 

Ifexe Orleant, Louitiana. — It haa rained on five days of tho 
week, ih* rainfall being two inches and thirteen hundredibs. 
Tti' . avenged 83. Rainfall during the 

W' <-hes and Mveaty-four hundredths. 

■>••'•' -I'l.Ki. — We have bad rain on six days of 

tbe week fall reaching ooe inch and twenty-four hun- 

dredths. > rinometf r has averagel 79, ranging from 69 

to 94. During tbe month of June the rainfall reached Hve- 
inrhesaadseventy hundredths. 

CoilMibMS. JfiMiss«f>pi.— There ban been rain on four days . 
of the week, the pneipitation b»iog eighty-fire bundredths of 
an inch. Too much rain ia said to have damaged tbe crop, 
llie thrrmom<-u-r has ranged from 68 to 93. averariog w. 
June ratufall three inches and eleven buodredtba. 

Letand, Mittijuippi.—Tht; week's rainfall has been two 
Inches and forty iiiii dredtho. Average thermometer 76, 
biglirst M7 and louett (15. Riiofall for the month of June 
sevm inches and forty huiidre<lths. 

MeritUaH, Mtaeitetppi.—Vii'iih rain falling daily there is a 
foot or nors of water in bottom lands. Crops have been 
damaasd. The prospect is raid to be the poorest for ten yearr. 

lAUmRoek, Arhatuut, — There has been rain on fire days of 
the paat week, the precipitation being two inches and- forty- 
five hundredths. Tbe thermometer has averaged 77, ranging 
from 66 to 90. Jime rainfall nine inches and twenty-six 
hundredths. 

. BeUna, ^rfcansaa.— Crops are fine, Mpeclally com, but 
^rsMv. Rains have been local; in some sections too much, 
in others just enough. We have ha<i ahnwera oo five days of 
the wtak, tbe rainfall reaching two inobM. and there are in- 
dications of more. The thermometer hss ranged from 67 to 91, 
averaging 7U 3 June rainfall four inches and seventy-tbree 
hundndibs. 



34 



THE CHRONICLE. 



fVoL. L XI. 



Mtmphii, Tenneg»ee.—'W« b*ve bad more rain than neces- 
i»rv, but oropii aw in floe condition. Hain has fallen the 
p«M four da»», tb« raiofaU reachinR three inches and sevf luy- 
f. Irediba. Avprajie thorinonieter 7«f-9, hiKhe^t 93 8 

I. «7-8. During tin' month of June the rainfall was 

t».. ...< ...^ and Ihirtv-onf hundredths on ten diyn. 

\iuJtfille. 7WiH.A.v.'.-\Ve have had rain during the wfek 
to the exiei I .f «vtntv-Kix hundredUuj of an inch. The ther- 
mometer ha« iiv.-raKed 70. the hiRhmt r>einK 93 and the low- 
est 83 During,' the month of June the rainfall reached two 
inrho and niti-iv hiinilreUllts. 

3/«/<i/i, Aliilxitiut.- (ri.p reports are unfavorable. There 
are ooiuulaiute llmt the cimtinuoua ar.d heavy rains have 
cauaed aamage. Th- weik's rainfall hai been three inches 
and fourteen hundrfdthg. on five days, The thermometer 
haa averaged 79, ranicinif from 09 to 88, Rainfall for the 
month of June six inches and nioety-niae hundre«iths. 

MoHtgomery, Alaliama.— There has l)een rain on five days of 
Um past week, to the extent of three inches and eiRhty-nine 
hundredths, and it still continues. The rain U adversely 
affectinK all croiw. especially cotton. The thermometer has 
ranged from 71 to S7. averaging 79. June rainfall one inch 
and forty-tive hundredths. 

Selma, AlalMima.—CTDV has been damaged by excessive 
moisture. We have had rain on fix days of the week, the 
I»«oipilation reaching three inches and forty hundredths. 
Averase thermometer 80, highest 91 and lowest 69. 

Maditon, /VopiVfa.— There haa been rain on five days of the 
week, the precipitation reaching five inches and ninety 
hundredths. The thermometer has averaged 79, the highest 
being 88 and the lowest 68. 

CMumbiis. Qeorgia. — We have had rain on two days of the 
week, the precipitation reaching ninety-three hundredths of 
an inch. The thermometer has averaged 79, raaging from 68. 
to 98. 

Savannah, Georgia.— The rainfall has reached eighty-two 
hundredths of an inch on five days of the week. The ther- 
mometer has ranged from 68 to 93, averaging SO. June rain- 
fall six inches and eight hundredths. 

Augtuta, Otorgia. — We have bad rain on six days of the 
past week, the ramfall reaching three inches and fifty-two 
hundredths. Average thermometer 78, highest 93 and lowest 
65. June rainfall three inches and ninety-eight hundredths. 

Albany, Qeorgia.— Crops are improving. It has rained on 
four days during the week, the rainfall being one inch and 
twenty hundredths. The thermometer haa averaged 83, the 
highest being 93 and the lowest 73. 

Stateburg, Smith Carolina. — There has been light rain on 
two days during the week, the precipitation being tdirty hun- 
dredths of an inch. Kainfall haa been poorly distrfbuted, 
being heavy at some points and at others nearby very little 
or none at all. The thermometer has averaged 77*6, ranging 
from 68 to 88. Rainfall for the month of June four inches 
and ninety hundredths. 

Charleston, South Carolina. — The week's rainfall has been 
two inches and twenty-seven hundredths, on six days. The 
thermometer has ranged from 67 to 90, averaging 80. June 
rainfall four inches and twenty-five hundredths. 

Greenwood, South Carolina.— Hain has improved the con- 
dition of cotton, and it is now growing and fruiting well. 
There has been rain on four days of the week, to the extent o£ 
two inches and eighteen hundredths. Average thermometer 
77. highest 89, lowest 66. During the month of June the 
rainfall reached one inch and eighty-eight hundredths. 

Wilson, North Carolina. — Telegram not received. 

The following statement we hav. also received by telegraph, 
showing the height of the rivers at the points named ai 
8 o'clock July 4. 1895, and July 5, 1894. 



■XPORTS TO aOBOPB PBOM AXL IHDU.. 



Shipmenti 

to ati Europe 

from— 


1894-95. 


1893-91. 


1892-93 


Thi$ 

wmA. 


Binet 
Sept. 1. 


TkU 

WMk. 


Since 
Sept. 1. 


week. 


Since 
Sept. 1. 


Bombay 

All other ports 


38.000 529.000 
1,000 113,000 


12,000 787,000 
1.000 226,000 


25,000 
2,000 


818.000 
151,000 


Total 


41,000 677,000 


13,000 1,013,000 


27,000 


969,000 



AI.BXANDRIA BKCKIPTS ASD 8HIPMBNTS. 



Alexandria. Kgypl, 
Jitly 3 



Beoelpts (oautars*)..., 

Thld week.... 

Since Sept 1 



1894-95. 



1,000 
4,537,000 



1893-94 



2,000 
4,972,000 



1892-93. 



2,000 
5,135,000 



week. 



Since 
Sept. 1. 



Exports (biles)— 

To Liverpool 

To Continent 



Total Europe.. 



'268.000 

3.U0Uj331,0O0, 

3,000 602.000 ! 



TMi 
week. 



Since 
Sept. 1. 



5,000 310,000 
5,000 285,0O0| 



10,000l595,000i 



Thii 

Meek. 



7.0001301,000 
6,000,318.000 

13.000 622,000 



*AoaDtarls98 pounds. 

Manchester Market. — Our report received by cable to- 
night from Manchester states that the market is dull for yarns 
and qoiet for shirtings. Manufacturers are generally com- 
plaining We give the prices for to-day below and leave those 
for previous weeks of this and last year for comparison: 



MySl 

J'ue 7 

" 11 

" 21 

" 28 

Julys 



1895. 



ta$ oop. 

Tmtt. 



■■13,g96l3 

5is,g96>« 

513,9 •6»9 

b\ i>63s 
5»l« »6'4 
5»8 96H 



8>« 11),. 
Shirtinat 



Ootl't' 
Hid. 
Uptdt 



d a. 
3><(>6 

3 oe 

2>s96 
2igl>6 
2ifl»6 



3'8 
3'8 
31»,6 
311,, 

3=8 
3a3g, 



1894. 



32( Oop. 
Tvitt. 



4. 1. 
61,8 (»6T8 

61s »61Iiig 
6»8 »6i5,e 
6>e 96is,g 
6 3>6\ 
6 96\ 



8*1 <6f 
Shirting' 



» I. 
1 10 «6 
4 10>«n6 
4 ini3»6 
4 101a 96 
4 9 96 
4 8>sa6 



9 
9 
9 

8>« 

8 

7>« 



(Mt- 

Upl-- 



a. 
4l|8 

41l8 

4l,« 
3"i« 



8ea Island Cotton Movement. — We have received this 
(Friday) evening by telegraph from the various ports the 
details of the Sea Island cotton movement for the week. The 
receipts for the week ending to-night (July 5) and since 
Sept. 1, 1894, the stocks to-night, and the same items for the 
corresponding periods of 1893-94, are as follows. 





1894-95. 


1893-94. 


Slock 


Bsceipts to July 5 


This 
vjeek. 


Since 
Sept. 1. 


Thi> 
week. 


SUiee 
Sept. 1. 


1895. 


1894. 


Savftnnah ............... 


1 
37 


61,251 
5,359 
5,139 


1 


51,173 
2,212 
3,561 


407 
78 
16 


1,007 




363 




827 






Total 


39 


71,749 


1 


59,946 


501 


2.197 



The exports for the week ending this evening reach a tota 

of — bales, of which bales were to Great Britain, 

to France and -^ to Reval, and the amount forwarded to 
Northern mills has been 13 bales. Below are the exports 
fo' the week and since September 1 in 1894-95 and 1893-94. 



VewOrleau Above xero of gau^. 

Memphis .....Above tero of gange. 

HaahvlUe Above lero of gange. 

Bhreveport... .Above zero of gauge. 

Tleksburg .Above leroot gange. 

India Cotton Movbub.tt Feom all Ports. —I'he receipts 
and shipments of cottbn at Bombay have been as follows tcr 
the week and year, bringing the figures down to July 4, 

BOMBAT BKOCIPTS iMD SHIP.\tKMT$ FOR FOIJR TEVES. 




Tear 



'945 
'93-4 
•92-3 
91-3 



t kipmu n u thU week. 



StmI 

Brifn. 



2,000 
3,000 



Oontt- 
nent. 



38,000 



Totat. 



38,000 



10,00o;i2,000 
23.UO0 2 ',000 

10.000110,000 



Shipmtnf Minee Sept. 1. 



areal 
Britain 



26,000 
46,000 
41.000 
68.000 



Conti- 
nent. 



503.000 
711.000 
777,000 
813,000 



Total 



Seceipi^ 



Thii 
Week. 



Smee 
Sept. 1. 

529.000' 15.000 l.lGO.OoO 
7S7.00O 25 000:i.7'.20,OOC 
SIS.OOO 11 000 i.(iyooo« 
881,000125 UOUll,7ul,000 





MifmMnororfA* w««A. 


XAipmotto tinee Sept 




ereal 
BritaiH. 


Conti- 
nent. 


TOUU. 


Oreat 
Brilain. 


Oontintni. 


IVXai 


OaiOBtta— 

1891-95... 

1893-94... 
JUdrae- 

1891-95... 

1893-91... 
All otbera- 

18H4-95... 

1893-94... 


4.000 


••••• 
6,000 

S'OM 


6,6oo 

...... 



4,000 
3,000 


7,000 
20,000 

7,000 
21,000 

22,000 
29,000 


27,000 
80,000 

10.000 
14,000 

75,000 
70,000 


31,000 
100,000 

17,000 
35,000 

97,001. 
9i,000 


Total aU- 
1894-95... 
189^-94... 


4.000 


9.0O0 


4,000 
9,000 


36,000 
70,000 


112,000 
161.000 


148,000 
234,000 



Sxpdrtt 
from — 


ire«« Ending July 5. 


Since 


Sept. 1, 


1894. 


Iforth'ii 


UM$ 


Oreat 
Brifn. 


Fr'nce 
<te. 


Total. 


Oreat 
Brifn. 


Fr'nce 
Ac. 


Total. 


Week. 


Si7iee 
Sept.l. 


Savannah. . . 
Oharl't'n.Ao 
Florida, &c. 
New York.. 

Boston 

Baltimore.. 


"'}}:. 






18,085 

2,913 

765 

4.375 

8,163 

391 


2,441 
53 


20,526 
2,966 

765 
7,531 
8,463 

391 


13 
1 


29,243 
1,477 
4,172 


Total 








34,992 


5,650 


10,642 


13 


34,892 


Total 1893-4 


8 


115 


123 


32,558 


4,642 


37,200 


111 


22,390 



A considerable portion of the Sea Island cotton shipped to 
foreign ports goes via New York, and some small amounts via 
Boston and Baltimore, Instead of including this cotton for 
the week in which iv leaves the Southern outports, we follow 
the same plan as in our regular table of including it when 
actually exported from New York, &c. The details of the 
shipments of Sea Island cotton for the week will be found 
under the head " Shipping News," on a subsequent page. 

Qaotations July 5 at Savannah, for Floridas, nominal. 

Charleston, Carolinas, nominal. 

JuTR Butts, Bagging &c.— There has been but little in- 
quiry for bagging during the week under review, but prices 
have been pretty well maintained. The close to-night is at 
4i^c. for \% lbs., 4}^c. for 3 lbs. and 5o. for standard grades 
in a jobbing way. Car-load lots of standard brands are 
quoted at 43^0. for 1% lbs., 45^c. for 2 lbs. and 5)^0. for 2i^ 
Ins. f. o. b. at New York. Jute butts have been dull at IJ^c. 
for paper quality, l^c. for mixing and \%<i.tor bagging 
quality. Tlie deliveries of jute butts and rejections at New 
York and Boston during June were 31.011 bales, against 
• 26,961 bales for the same month last year, and since January 1 
the deliveries reach 318,539 bales, against 143,381 bales in 
1894. The aggregate stock in the hands of importers ard 
speculators at New York and Boston on June 30 was nil, 
against 2,900 bales at the corresponding date in 1894, and the 
amount afloat for the United States reaches 86,601 bales, 
against 74,446 bales last year. 



JCLT «, 18B5.1 



THE CHRONICLE. 



35 



C'lTTON CO.VSCMPTIOS AND OVERLAyD MOVEME-VT TO JCLT I. 

Below we present » synop^U of our orerland moTemeat, 
receipts, export*, spinners' takin<{a, &c., for the month o( 
June and for ten inonth«o< the leaaon to July 1, for the years 
1893-93. 1893-9t and 1994-95. 



1894-03. 1393-91 1892 93 



ORMioTariaBd for June bate*. 

BlMi OTCiiaod for lOmontlu. 

VetOTWlaDdfor Jase 

■Maverlaad for 10 mootba 

Partraeeipu Id Jane 

PMt raeelplii In lOmoatka. 

Bzperts in Jane 

bporta In 10 months ....... 

Portitockaoo JaoeSO 

Vorthern apinnen* takings to Js'7 t — 
aaatbezBaplnaan'tskln/ista JalT I..... 
Orwtaad to Ctoxl* tor 10 monilu (In 

etadsd ia net oreiUnd) 

Bant Horth mat a&uth Is 10 (Bonths.. 
Otoekst !(ortk*> iBterlor markets July I 

rsBii In itirht darlnc Jan« 

ABoaat of erop lo alitlit JuJ^ 1..... 

1— >B ilgfct baUnee ■■■■a a 

IMal «>op 

ATersae wtiiKkt of tmles 



S0.9(t3 

1,7«0,»5S 

4J4S 

i,ooa.ot3 

•1,«4I 

734S.MS 
17«,T74 

6,010.310 
419.413 

1 .908.833 
670.000 



I 30,7961 

1,8 19,439 !l 

18,59 1 

707.6Xi 

09.908 

3,889.499 

130,804 

5,000,929 

831,932 

1,907,780 

OM/MW 



09,033 98.788 48.903 

41,l»7| 1.793 17.926 

0,3ei{ 3,980 10.168 

70.493| 77,491 8».I&8 

9,033,886 7.318,018|0.t33.1 46 

i 809.1931 383.996 

|7.9S7,31 1,0,717.1 4.2 

80S-7O 4ftO-32l 40'JO.% 



52.131 
,21t,39e 
36.714 
826.075 
93.682 
991.312 
179,110 
,177.803 
352.550 
.652.023 
606.030 



BmUTVM Rkwb.— Tho exporti of cotton from tho Uniud 
■iMw tbo post waek, aa perloiM* oiafl ratams. hare reached 
n,0S8balea. 8ofarastheSoatheniport»areooiiconie<i, th«s« 
aro tho aanie ozporta reported by tewgraph and pabUohed in 
tho OtaaomoLB laat Frtday. with regard to New York we 
iaoitMlo tho Dianifeets of all tmobIi cloMwd np to Thtuoday. 

■bw Toax— Ts UTsrpeol, par sMaaMts Aarsals, 430 

Baal^ 400 _ ..._...._ 

T» Hall, par Msaaer rraottseo. eoo '.'....'.'.'.'.'..'..„ 

To Loaa— .per si— t Ualarlo, 37 ...« 

Tonsri»,persuaaerI,oCtwmpo<oo.!MO 

To Brvrnra, per Meaarr X*«kaT, 100. 

To Aatwerp, i>vr tloaiaofs Lvjionto. 383. ... BbrnUad. 1,499 



TOOottan' 
Xaw OMIMA^- 



Wm 
04tT«»T. 

Xoaroi i 
WiLaixu 

I10«t'l1 - 

•..11 



Cli ' 



r Vlnrtnla, 000 

-i«ol, por ■loamar* Teats. S,37t . 



850 
64)0 

3' 
2H6 

100 

1,«85 
300 

S.941 
U'O 

4.1)00 

1.033 

9.^3 

313 
337 



litturf. psr stsaasar adepts, 000 

- pool, psr i t iiwi r Oraela. 8,010 

^'luoa. pars(aaaMrBay»Sk4Jl0a 

^i>H>I.Mr«toasMr» KooMa. l.UO Sarhaoi, 

■s>i|ii4. V63 

ti<i.niao*K-To ij Torpool. pr rt»aawr I t u ssi u i », 083 

To Broaw. p»T wsasasr M M aokea. »l 8 

Pmtunai.rats— To UrorpooU psr slsimsr Feaalaail, 33^ 

Total 2:. 019 

Tbo partiotilars of thoao ohlpaMato, arraaced in otir oai » 1 
form, are aa follows: 

Bull BrtmtH 

Umm- *tj&n- *Bim- An<- OMTms. 

pool. rfoa. g a»r». Oar*. •*<»*. Otnrp. IWai 

■aw Teife 830 007 900 IIW 1J8M 9(M 3.vO« 

■. Orisons 9,801 ...... ...... ...... ...... ...... 9.981 

wAITSflSOtt» «*•«• ■ . ■••••• «>>>•• ■*•••• wo •■•■•• •••••• 9w4j 

Wnataxtra 4.800 4.^00 

■ertslk....._.... 9313 ...... ...... .. ...... ...... 2,«15 

»#•• • •••■•• o«ao*a >•««•• i^aaaa •••••• I iV^S 

VwS •..*•• aoaoo* SIS •••■>• ••••«• l.'<f0) 

99 1 ■••••• <■•••« ■■•••• •«•••• ■■•••• 93 1 




Total 19.000 

Below we add tho 

ootton from United 

(be lataat datea: 



017 too 0.903 1,839 90O 32.029 

lio wook of Tsoiila carrying 
porta, bviagiac our data down to 



■aw Obi Bias To U*srpa«l-Jaae IIT ■liswti linill. 000 .... 
Jaly 3 • 0»«aMr Mr uooa. 4.003. 

To HsTTS Jaly 4 Sisaaar tsBsn«trlaa Pilaso. 007. 

To B fi win-JiUr 3 omaiw Balvstl^ OM. 

To Aatwsrp- JalT I lisww l.samlrina PHaes, 3ao. 
_ Ta 0*a •»-^an« x9-0taaaMV BHUsfe Pitaas. l.OOu. 
■4rAaaAa— Touaaoa-JairS ttisair Msamil- i.nnrr 

■«B»m«— le liaatbtui- Xolr 0— Olaaaar , 3tw> 

■ DO i OW V» Uvsrpool - JaiiO«7-0teaaer Aaimaian. 1.17.. ..Joaa 23- 

O t SB M s rO Mlia mal a. 117.. ..July 1-tiiiair 0a<t— «mfc 00*. 

PntABatriRA-T* UTSfpool- Jaae 98 -itsawsr Okki, 170. 

Ootloa frei«bu tho paat wook haro boon ao follow.- 




turn. I Wt^nm. Thmrw. 



Do rtssm s 

Aaa'Oaa. sakod < 

IUtsI. t. Hamb S 

Da T. Iltill...d 

.Jal7.a 

* 

Aatvorp,s«aaa.a 
Sbaat.T. Antw'p.rf 



■■•4 

•» 
»IS 

•m 

><S4 

•si 



V*-"l»'««-" 



•is 

"• 

Si 

7m 



•is 



•9f 

ao" 
im 

•as 



•»« 



99t 

uT 

901 
•as 

•S4-«»II 

•is 
•s« 

»».4 
*»* 

1.. 



/w. 



98C 



39« 



19t 



Mt 



•a. 

■■«4 

'iaO»« 



• OMsBotparlOOtta. * Aad per seat. 

Lfmipoou— By oafalo (Tom liTarpiMl wo hare the follow > t g 
M t atomo n t of th« week's sales, stocks. *o., at that port: 



Bales of the week ...bales. 

Ot which exporters took.... 

Of which speoalators took .. 

Sales American 

Aotnal export 

rorwardeo 

Total stock— Estimated 

OfwhlohAmerloan— Estln.'d 
rotal Import of the wsek 

Of which Amartean ...« 

imoantsSoat 

nf which Amerloan . . 



Junt lA June 21. June 28. 



43,000 

3.100 

400 

41,000 

H.OOO 

99.000 

1.627.000 

1,509,000 

97.000 

49,000 

73.000 

48.000' 



54,000 
3,000 

9i',0<W 

7,000 

52.000 

1,612.000 

1,484,000 

44,000 

28.000 

71,000 

51.000 



45,000 

1.000 

1.000 

43,000 

7,000 

55,000 

1,581,000 

1,455,000 

30,000 

23,000 

78.000 

97.000 



July 5. 



50,000 

1,600 

80O 

45,00O 

10,000 

55,00O 

1.562,000 

1,128,000 

46.00O 

30,000 

.18,000 

40.000 



ine tone ot tne Liiverpool market for spots and (ucurtw eai b 
day of the week ending July 5 and the daily closing prict a 
of MDot Rotton. have been aa follows- 



Spot laalurday Uonday. 



Kartet, \\ Sauil 
1:45 r. M.(l Inqnlrr, 

I 

ifi«.cprds. 9ii|t 

Bales 

Opes. Aexp. 



0,000 
200 



Mora 

damaod. 

3»M 

13.000 
OCO 



Futurt*. I ! 

Mukat ) **so4r a' rtrmat 



Market. { 
4 r. M. S 



Tary 

•taadr. 



Firm. 



fuasifay. 



Qals). 



3»»M 

8.000 
900 



144 ad. 



WetPday. 



Harden 'I, 



8\ 



8,000 
500 



Qolat »no Barely oni««. Oni«._ 
•taady. aiaaSy. «<»•«• gniet. 



TAursd'y. 



■aalar. 



3% 

8.000 
500 



Qalat at 

I-Sida- 

ellaa. 



Friday. 



Moderate 
demaod. 

3W3, 

8,000 
300 



Qalet at 
av part'lly 
l-Mdee. 



Cba opeiung, lugneet, lowest and utoeing prices ot tutui < a 
at lirorpool for each day are f^iven below. Prices are in 
tbsfaaaia of Uplands, Low lliddling clause, unless otherw so 
statad: 

I^T Tha pricta ore p<Mi> <■• p«H«« attd OUAa. TAus.- 3 03 sisaws 
3 we i d .. a»4 401 s iso m ' ' 



<■• ptmet 
4 1-Mrf. 



Jsly 

Jaly.Aw.. 
Al 



o«i«Jla*_. 
llo*..DaaM 
Oaa.-JaB_ 
Jaa.-rsa- 

raa.-ii«a. 
M<a.-APfii 

Awll-May 
May.jMn». , 



.. Jane IM. 



Or>a m^'tMK' am. Ofn aiHk Um.\ am. 



Maa.i Jaly 1. 



I 



I It 'sit sit 
11* sit sit 
s IS , s u : * IS 

4 41 t 41 * II 

5 tt • U S 14 
SIS SM SM 

S IT S IT t It 

SIS SIS SIS 

t«» SSt'SIS 

sii'ssi SSI 



I 



A 11 A ! 

<a 'sisl 

tit SIS 

SIS 'sit 

til SIS 
SIS SIS 

Sie iMi 
a IT ail 

t it> a IS 

<is;ist3' 

8 SI tu' 

....lists, 
... II .... I 



A I A 
SIS SiS 
SIS til 
tIT tl7 
tin SIS 

SIS ai» 

sfrj a&o 
a SI a SI 
tu tu 

SiS su 

tts s-vs 

StSiSM 



I A 
itU 
SIS 
tIT 
Sle 
SIS 

sto 
a SI 

S5i 

a&a 
ass 

SIS 



1 . 



Taoa.. Jaly 'A 



Opm aifk Laia. Oloa. 



A A 
SIIJSU 
SM^SII 

I s IS I s IS 
t M j a 17 

SIT!al^ 

ai< 8*» 
ai» aso' 
SSI a SI 
a s« a as 
SSI jtsi 
SM a»4 



A 
Sll 

a II 

SIS 
SM 

3IT 
SM 

at* 

a 61 
1 sx 
asi 
ass 



A 
144 

a 14 

SM 

a 47 
tio 

SIS 

ts» 
a SI 
tsa 
a»4 
as* 



Jaly 

Jaly Aas.. 

Aas.-Oa«t.. 

tesc-Oet.. 

OaL-NoT. 

NoT.-OeaL. 

Dea..Jaa_. 

Jaa.raa. 

rM..|iak. 

Maa..A»rU 

AanMUy. 

Mag?*— 



W04.. Jnly S. 

Oam /flak r»<a. Ctaa. 



A 

ai; 
ai; 
a IS 

«ao 
a SI 
sst 

SM 
SM 

as* 

SST 

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BREADSTUFF S. 

Fbioat. July 5, 1895. 

It has been an ezoeedingly slow week in the market foi 
wbrat flour. Burers bare been very indifTerent operatora 
and pricrs ha*e been weaker, particularly for "Hpriti); pat- 
ents," on which buldera have attempted to force sales, owing 
to free arriTsls. Rye flour his sold slowlr but prices hara 
boon without cbaoge. Only a very limited business bat been 
tranaaotod in corn meal, but prices hare held steady, to-day 
tho market for wheat flour was dull and easy. 

The speculation in the market for wheat futures has been 
quiet and prices hare weakened a trifle under favorable crop 
pronects at tbo West and dull and weaker foreign advioes. 
la the spot market btuinesa was qniot, but supplies held here 
w«ro only moderate and prices bare ruled a trifle steadier. 
Tiie sales Wedn<>adar included No. 9 red winter at Ic. over 
Soptember f. o. b. afloat. To-day the market opened higher 
in response to flrmer foreign adrioes and on 1v«h favorable 
weather ronditioii.t at the West, but Hiilxiequently deelined 
under a<>llioe by professional traders. The sales market waa 
dull. Nr>. 'i red winter was quoted at Ic, over September 
(. o. b. afloat. 

DAII.T ouMMO raicBs or mo. 2 aao wurraa whbat. 

«i(. Ifan. rue*. iTMt. TAurt. Prt. 
JUT da0Terr.........„«. 74'a 73«i 

Aagost deliTery a. 74ti 74>« 

Oop lwa ber dellTerT....a. 73>k 75 

Mobor dellTerr a 79V 

Osssabar dsllTery 0. 77H 77>« 

In the msrket for Indian com futures the speculation has 

been quiet, but prices have stesdily declined under favorable 

orop advices from the Weat and in rpsponsp f> weaker for- 

' rigo advioes. In the spot mirket shippers hare beon good 



74'a 


73 >« 


K 


73 M 


74-'» 


74^ 


* 


73-'* 


7S"; 


74'. 


a 


74 «9 


76>a 







74'a 


77«s 


77«s 


a 


76»a 



36 



THE CHRONICLR 



[Vol. LXI. 



buTftn Jul at dfclining price*. The Bales Wednesday in- 
'•ludeJ No. 2 mixed at 60c. in elevator, 30?ic. delivered and 
%9\c. OTer September f.o. b. »flo«t: also No. 2 white at Ic. 
orv 8«p«*niber f. o. h. afloat. To-day the market opened 
flrneroo itrorKtr (oreiRn a.'.vicen, l)ut later d^lined with 
wbe«t. The ipot market w»8 (airly active. Shippers were 
boyinit. The lalea included No. 3 mixed at SO^i^. in ele- 
vator and ',^lc. over S<'|>iember f.o. b. afloat. 

DAiLT ouMoia raioaa or no. 3 mixbd ooaa. 

gal MoH. rue: Wetl. Thm-M. F^<. 

inin.t de'.lrerr o. 5J>» 61^ 80^ »0J .... 497» 

The speculation in the market for oats for future delivery 
baa been fairly active, but at deolininK prices under free sell- 
ing for Western account, prompted by the favorable crop 
proapects. In the spot market bminew his been fnirly 
•ctiTe, but at a further decline in prices. The sale Wednes- 
day included N.v 2 mixed at 27i.^@28c. in elevator and in 
•tore and No. 2 white at 81@32c. in elevator. To day the 
market was dull but steady. The spot market was f4irly 
active and firmer. The sales included No. 2 mixed at28<sC. in 
•levator and No. 2 white at 33c. in elevator. 

DAiLT OLOsnio PKioaa or ho. 2 mixkd oats. 

AW. Xon. Tita, Wed, TAurt Pr . 

July dellverr . e. 27\ 27\ iTt 27% .... 27% 

Scp(emh«rdellverr....o. 2S% 2j% 'ii 29 .... 2i 

The following are clceing quotations: 
ru>nK. 

.V bbl. 92 .V)* 2 80 [ Patent, winter $3 90«M 20 

---City mills extras a 4 115 

Rye flour, KUDerflne.. 3 9oa 4 40 

Buckwheat Hoar... V .... 

Corn meal- 
Western, Ao. 2 80* 2 85 

Branilywtoe 2 90 



Bopemne 2 70*3 10 

Xxtn.N'0.3 ^t«.^» 3 25 

Xxtrm.No.1 300* 35o 

Gtoara 3 05*3 

BtnUichts S3i* 3 90 

Patent, aprlnir 3 90* 4 25 



I Wheat Ooar In saoka sells at prices below tbose (or harrels.) 

OKAin. 



Wheat— e. o. 

Bprlne, par buali.. 71 • 80 

Bed winter Mo. S.. 73l«* 7^>s 

Re.1 winter 6» • 76 

White. 7J • 7H 

Oata— Mixed, per ba. ii • 29 >i 

White 31 » 39 

Ko. 3 mixed 2S « 29 

Vo. awhile 33 * 34 



Oom, per bush— o. 

West'Q mixed .. 50 • 

No. 2 mixed 50i«» 

Western yellow... 50 * 
Western White 31 • 

Rye- 
Western, per bush • 

State and Jersey.. .... * 

Bar'ey— Vo.2 West'n « 

t<tat> 2-rowed » 

"taie 6-rowed • 



53 

as 

53 



' Far aiher tables asaallr slTeo here see vaae 16, 



THE DRY GOODS TRADE. 

New York, Friday, P. M., July 5, 1895. 
The business of the week ended to a considerable extent 
•with Wednesday evening, yesterday being a holiday, the in- 
fluence of nhich has t>een distinctly noticeable in a very at- 
tenuated trade to-day. Even the early days of the week dis- 
closed much quieter conditions in the cotton goods depart- 
ment than had ruled for a considerable time past. There 
was a slim atiendprceof ^uyer8and store trade was alack, 
whilst business comiiig in (loui the road whs nuich beluw late 
average. Such condiiiot s are, however, too much a m itter 
of course for the lime of yi-ar tocause sellers any disquietude. 
They are peculiar to the time being and have no significance in 
relation to even the immediate future. This is shown by 
the fact that sellers have in nowise modified their attitude, 
and are no more anxious to meet a slow demand than an 
active one. holding firmly to whatever gains they have made 
in both pUln and colored staple goods. They are not op- 
pressed by carrying unsold stocks of any volume, are com- 
fortably 8itu:iied with regard to production for some time to 
come, and in a position to await developments, which they 
believe will be in their favor. In fancy cottm fabrics dark 
prints have made a good start and promise well for fall. The 
woolen and worsted goods situation for spring is still uncer 
tain, and untd more of the leading lines are opened up this 
will continue a feature. 

DoifKsnc Cotton Goods.— The exports of cotton goods 
from this port for the week endine July 1 were 3 901 
packages, valued at : 206,098 their destination being to 'the 
points specified in th^ table below: 



Vsw TOBK TO Jdlt 1. 



Areat Britain , 

Othar Knropean.. 

China 

India 

Arabia. 

Afriea 

West Indies 

Msiloo 

Central Amerlea.. 
flOQth Amerlea .. 
Other Countries.. 



1885. 



Wuk. Since Jan. 1. 



Total 

Gblna, via Vanoouver*. 



33 

&4 

298 

925 
207 
194 
109 
S7 
1,164 
865 

3,901 



,.. ■^.... 3,901 



2,835 
1,443 

28,282 
3,358 

14,147 
4,034 
8,899 
1,681 
8.787 

30,451 
3,817 

99,737" 
11,700 



111,434 



Total. 

• From New RnclanH'mlirpolntiillireot 

The value of the New York expirts 



1894 
ITee*. Since Jan. 1. 



3,213 

1,*<12 
43,072 

4.579 
H.63W 

3.958 

8,892 
973 

3.76R 
21,857 

1.772 



71 

138 

254 

6 

'"l 

262 

35 

278 

1,161 

205 



2,411 



2,411 



lOfi.628 
10,788 



117,416 



year has 



»..c .Biiia ui lae i,iiew lorK expirts for the 
been $4,440,818 in 189.5 aeainrt $.5.797,8.58 in 1894 
«5„Tln "■'".!,""' b^Pn very few price changes in brown goods 
dtinng the past week. An odd advance in fine brown sheet- 
ngsand in gray ducks of Jic to J^c. has been reported, but 



as a rule sellers have contented themselves with filling a light 
demand at previous prices. Heady supplies are still scanty. 
Salts of bleached cottons have been limited in volume in both 
muslins and cambrics, but good deliveries have been made on 
old orders and prices are Mrm throughout. Wide sheetings 
also are very firm, altboui^h the demand contmues light. 
Cotton flannels are firm, with moderate re-orders. Cotton 
blankets scarce and agents askin;< higher prices. Denims are 
firm, particularly for nine-ounce blues, with light sales. 
Other coarse colored cottons are without change in any re- 
spect. Kid-finished cambrics dull but firm. Silesias, sateens, 
percalines, twills, and other linings, quietly firm. Dark fancy 
prints have been in (air requ-wt, with opening prices well 
maintained. Other regular prints have moved quietly, with 
an occasional upward tendency. Qinghams have been dull, 
without change in prices Printclotbs have advanced to 2J^c. 
for extras, with small sales, and close with bids thereat de- 
clined. Wide goods strong. 

1895. 
aioekof Print Ototht— .June 29. 

At Providence, 61 squares 187,000 

At Fall River, 64 .squares 52,000 

At Fall River, odd sizes 92,000 



1894. 
June 30. 
2i42,000 
5"- 9.000) 
203,000 S 



1893. 

July 1. 

121,000 

46,000 



Total atook (Pieces) 331.000 1,054,000 167,000 

Woolen Goods. — Considering incomplete display of new 
woolen and worsted men's fabrics for spring and the uncer- 
tainty regarding the price situation, there hai been a fair 
amount of business done for the coming season. S ime agents 
report good orders coming to hand in Clay worsteds in medium 
grades and in low-priced cassimeres, wnile cheviots and 
serges have been in irregular request. The opening of fur- 
ther lines of standard goods is awaited with much interest. 
So far prices, ompired with a year ago, show some 
makes opened at 2}^ to 5 per cent advance, others a 
decline of 2}4 to 5 per cent, and others again without 
alteration. The upward tendency of the market for raw 
material may have a stiffening intiaence on prices yet to be 
named. The re-order demand f^^r heavy weights has been of 
fair proportions, with buyers still paying more attention to 
plain staples in medium and Iot gr.tdes than to higher- priced 
fancies of any kind. Overcoatings liave developed no new 
feature, and business in cloakings is still restricted. Woolen 
and worsted dress goods are very firm, with some sellers ask- 
ing advances on re-orders, which come forward slowly aa yet. 
Flannels and blankets are in moderate demand at firm prices. 
Foreign Dry Goods.— There has been but a light business 
reported lo foreign merchandise this week in either seasonable 
or fall lines. In the latter woolen and worsted and mohair 
dress goods are firm, with the latter still tending upwards. 
Silks also are firm under foreign advices. Linens are un- 
changed in price. Woolens and worsteds for spring are well 
sold and firm, as are fine cotton dress fai>rics. 
Importation* and Warehouse WItlidrawals of Drr Goods 
The importations and warehouse withdrawals of dry goods 
at this port for the week ending July 4, and since 
January 1, 1895, and for the corresponding periods of last 
year are as follows: 



' «=• = 



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00 ©Vj j M*vJQoi;«M 

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00 ' Mbio'^lo 

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JCLT 6, 18M.] 



THE CHRONICLK 



37 



8T»Tt /imp City Ptf/inTM^KT. 

TERMS OF SUBS CRIPTION. 

The Ixvkstobs' Scpplement will be farnibhed 
f -'/e to every anoual subscriber of the 

C FiXAXCIAL CUBOXICLE. 

The Sstatb aku Citt Sipplbmext will also be fur- 
nished without extra charge to every subscriber of the 
Chroxiclb. 

The Street Railway ScppLBMBjrr will likewise 
be furnished trithoul extra charge to every subscriber 
of the Chrosicle. 

The Qii.rATiox Si-pplkitent, issued monthly, will 
also be luruisbtd without extra charge to every sub- 
scriber of the Chboxicle. 

TERMS for the Chboxiclb with the four Supple- 
ment* above named are Ten Dollars within the United 
States and Twelve Dollars in Europe, wnicb in both 
caaea includes postage. 

Tenu of AdvertUta;— (Per lack >vaM.) 

OnettOM tt SO I TBrM MoDtha (13 ttB«w..a3S 00 

OnaMaatt (tame*).. 1 1 00 Mx M oath* (3«c1ibm).. «S 00 

TwoMoaOa (SUmM).. ISOOJ rweir* Moatlutsa Um«*).. aS 00 

rXto •bora tena* for one monlh and apvaM »ra forttaadlin OMdi. ) 



Tke purpose oi tkls Stale and CMj DeparUaenl 

to to fumiah our rabaeriben with a weakly addition to and 
eontinaation of the SrtKTm axd Crrr StTmxianT. Is other 
worda, with the new (acta we »haU give, tne ampUfleatioai 
and oorrectiaas we shall publiab, and the municipal law* we 
shall analyse in the " State and City Department," we expect 
to bring down weekly the in/ormation cnntainad in the 
BraxB asD Cirr BurrLnmn to aa near the oonantdate a* 
poari Me . Hence every Bubaeriber will at all Umca pos w a 
complete and freah cyclopedia of information rcapeetiog 
Municipal Debla. 



%A PiapwMis aa^ II«caUaUMia.->We have u • 
aetved through the week tha (oUowiac notioaa of bonoi 
raoeotly negotiated aui boada offend and to ba odaead (c r 



Allevkeay. Pa.— It U reported that on Jalv 2, 18M, the city 
of AUcwbeny aold tBOO.OOU of 4 per oent booda to (b* Kideliijr 
Title A Tmat Company of Pituburx, Brawalar. Cobb * Eata- 
brook, and Blodgec. Merriu ft Co., j»intly, at 106 iA. A de- 
acription of the booda la given below : 



LOANS- WAm Dim. 

araaaT liirBovcaKaT— 

4<.jaj. «e«t.o«o.... Juiri.iwoo 

4>.J'tJ. 'nj00O^....Jair i.ieoa 

4>. j.ti. -.0.000 jaiyi.iaio 

it.jAJ. iojOOO Jalrl.lWlS 

4«.jaj, M.O0O Jain.ltM 

«•. J*i. ftO.noo Julfl.lMS 

nioHWAT liiraoTciiBsT— 
«<. JAJ. aAO.Oiio jDir l.lfiOO 

4«, j«j. io.uoo jBiji.ieoa 



u. jaj, aBabOoo 

«>.J*J. M,000 

«a, JAJ. ao.ooo J . . 

«>,jaj. Ao,ouo jia/i. iu^ft 

Sbwib laraoraJiBirt— 

«•. j*j. Haj.ooo Jnir i,i»oo 

4s.jaj. »s.MO Jutri.i»'>» 

«a.JaJ. SStOOO Juljrl.l.)iu 

4a. J*J, Sa.mM .... July I. 1IM& 

4«.Jaj, sa.ooo jaiyi.iejo 

4a. JAj, aa.000 Jair i. iv^^ 



lotrmt will be payabia at the City Coi»ptroUai's office or 
will be mailed by check. 

Aataala. Caaa.— On June 37. 1893, the eiiy of An*oria 
•old tlOO.OCO of 'tpcr c«nt gold fuodina bond« to Cuabaian, 
Fiaher ft Co., of Boaloo. Maai., at 103-OU and aocruad Inter- 
est. The iacnrltlta are dated May 1, 18M; tha principal will 
matare in SO year*. Nina bids ware received (or tbe loan aa 
follows: 

I0j-(>:)3 

loi .^ 

10.: ^7 

t03-6'^7 

IOa-70 

lO-^-so 

lOJOO 

...lot «7 
10200 



. fl ifcaf it Oa.. BoatOB 

WfeaaaAatUaalaaar.liaw Yack 

Bavlan Back of Inaoala, Aaaoaia, Caaa 

r I! 'i.v . 

•'*■'■'*■;«! ■•• Coaipaar. . . 

Jajj K iJr. _ ., iillaa. foraaO.OOU 

Coaa. Mutoai Lila-iaa. Co., Banlard. Cvi.b 

E. B. BoUtaa a aoA. Bo«U>B. Mim 

MldaiaiawB SaTlBsa nwik. HMdlcUnta, Cobu 

Aabnra, la,— On July I. 1899, the citv of Auburn auld 
l><^>.<iuu of 4 per cent water booda to E. H. Rollios ft Suns 
»' l-XiH, Six other Mds were reoeived for the loan. The 
»• iriiiea are dated July 1, ld09. and 930,000 of the amount 
will inatuie July 1. ISO-V ft.t.OOO July 1, IBIU. |S5,00O July 1, 
191 J, and fM.OOO July I. 1»I9. 

Aarora, IIL— Proiwaab will be received until July 10 for 
the purchase of fM.OOO of walrr-worka bjoda. The aecurilies 
will bear inlereat at the rate of 5 per cent and run 10 years. 

Aaalln. Tex.— John MolKmald, Mavor, reporta to the 
< y. that t2ixj,000 of water and light booda of Austin, 

t - 24. will bear interrat at the rat« of per cent, pay- 

s'm' .1 anoually in New York, and will mature in forty 

T"ir- ij MI option of call in ten years. They will be offered 
(or taie at an early data. 



Belmont, Wis. — A proposition to issue $3,000 of bonds for 
water-works will be submitted to a vote of the people July 10. 

UeerOeld, Wis. — Bonds to the amount of $o,000 have been 
voted for water-works. 

DoOB, Iowa. — The people of this municipality will vote on 
issuing bonds for water works. 

East Brady, Pa.— Proposals will be received by R E. Mo- 
Gregor, clerk of the Council, for the purchase of $10,000 of 
water works bonds. 

Eliiabetbtown, ly.— A vote taken June 32 on issuing $13,- 
500 of water-works bonds resulted in favor of the proposition. 

EvaaatoB, Ohio.— Proposals will be received until July 29, 
1893, by Wm. H. Krapp, clerk, for the purchase of two 6 per 
cent water bonds of the village of Eranston of the denom- 
ination of $900 each. The securities will be dated August 
1, 1899, interest will be payable .semi-annually, and the princi- 
pal will mature August 1, 1905, both principal and interest 
being payable at the Atlas National Bank, Cincinnati. 

Everett, Wask.— H. D. Walling, Mavor, reports to the 
Chbomclc that an election held June 15 on iDsuing $85,000 of 
bonds resulted in favor of the proposition. The loan will soon 
be offered for sale. 

FalHIeld. Me.— It is reported that 4 per cent refunding 
bonds of Fairfield to the amount of $30,000 have been sold to 
J. W. Longstreet ft Co. at 103 53. The loan matures at the 
rate of $2,000 yearly after ten years. 

Ulla Coaaty, Aria.— Proposals will be received until Julv 
20, 1809, by O. M. Alliaon. Clerk of the Board of .'Suj>erTi8ors. 
for the purchase of $40,000 of 5 per cent 47 year Territorial 
gold funding bonds. Interest will be payable semi-annually 
at the offliH" of th» New York Ouaranty and Indemnity Com- 
pany, •" ■"■ 'f the Territorial Treasurer, at the op- 
tion of These bonds are issued in pursuance 
of an ita i • .iiiUlive Assembly of the Territory of 
Ariaooaanti. uct for the relief of Gila County, and 
authoriaing I: i ."rial Treasurer to exchinge Territorial 
fundiag boqd* fur certain warrants." ' 

Haaillton. Ohio.— Water- works bonds of this city to the 
amoODi I bave been voted. 

Harm i . N'. T.— H. L. Nash. City Clerk, repnrte to the 

CBlioxict.K itiat ilnrnelUville will issue no bonds until at least 
another year. A vote recently takrn and which resulted in 
favoi of the propnsiiion was iimply to aet the expression of 
the lax-payrra. The <|Ueetion will now be submitted to the 
LegiaUture at its next stasion. 

Hadaaa, N. T.— On July 1. 1893, the city of Hudson sold 
$123,000 of 4 per cent bonds to the Hudson City Savings Insti- 
lution at 104\. Other bidders were: Siorni ft .Smith 
Whann ft Scblcsinger, Ben well ft Erentt and Walter Stanton 
ft Co. Additional bonds to the amount of $30,000 will be 
ia«ued. f 

Iraawaad Prartloaal Nrhool District No. 1, lick.— P. E. 
Swaason. Director, reports to the Ciik<>.n'ici.,r that the Frac- 
tional Hchnol District No. 1 mill ianue a $14,000 bond instead 
of a $2.V0OO aecuritv recently ad rertired. The bond will be 
issued on or about July 10, and aealed propoaala will be re- 
ceived by the hirector after July S. 

JackaoB, Mich. —A vote will be taken July 8 on isniing 
bonds to the amount of $30,000. 

Jakaaaa. Tt.— Wster-works bonds of this vUlage to the 
amount of $9,000 have been voted. 

EaiSOB, MlBB.— Propoaala will be received until July 22, 
1809, by B. A. Shavrr, VilNge li'corder. for the purchase of 
$9,000 of water- works bonds. Ill tturing at the rate of $1,000 
yearly from Auvuat I, 1898, to August 1, 1903. Interest "at 
the lowrst rate" will be payable anoLally at Kasson. The 
village baa at prxeot no iudebiednesa of any kind. Ita as- 
arsard valuation (which is >, of actual value) for 1894 was 
$8$0,000: total lax (per $l,iiUO), $20 10. 

Klsaiaee. Fla —A vote takf n June 29 on issuing $20,000 of 
bonds nsulttd in the defeat of the propoeition. 

Lake Coaaty, 8. Uak.— This county has sold $80,000 of 5 
per cent I0-2U year funding bonds to N. W. Harris ft Co.. of 
Chicago, III., for $$0,035. 

A call haa been made for the payment of court-house and 
jail bonds of Lake County, numbered from one to thirty, in- 
clusive, for $300 each. They are date<l July 1, 1884, and due 
July 1, 1904. aubj'Ot to redeinption after ten years. Tha 
•ecuritlcs are payable to C. Livingston at the city of St. Paul, 
Intereal on the loan will cease August 1, 1893. 

Laaslag. Hick.— An election held June 18 on issuing $25,- 
000 of 4 per cent bridge bonds resulted in favor of the prop- 
oeition by a vole of 79 to 1. 

LaxlaatOB. lo.— Bonds of this municipality will probably 
be iaaned for an electric-light plant. 

Larala. Ohia. — The (People of Lorain will vote July 10 on 
issuing $r.'3, 000 of water-works improvement bonds. 

HaBckeiter. Ta— The City of Manchester his sold $63,000 
of 5 per cent 10 30 year bond< for the construction of sewers 
and for the payment of the floating debt, to the Maryland 
Trust Company, of Baltimore. The loan is dated May 1, 
1809. and interest is payable semi-aonnslly in Miy and No- 
vember. The city's total bonded debt, including this issue, is 
$493,000, Its SMCased valuation for 1891 was $3,311,278 88. 
' Tiie population, according to local figures, is 12,000. 



38 



THE CHRONICLR 



I Vol. LXI. 



Ji«rj«Tinr. ral.-Th^ pfople of Marvsville votfd Juno 18 
In f«»or of is«uio(j $40,001 of drainage bond.^. 

McKresport. l'».-On Jure 29. 1^05. the city of McKeM- 
portoffi.rJd for i-ale $800,000 of 4 p*r cent wr.al 'un'l'nK 
Kndt. d»ted July 1. 1995. one soriea to become due each year 
from July 1. 189«. to July 1. 1»U. the cjy reserving the .|ht 
to hold the flwt three s-rien due in 1896, 18«7 and )H»», 
•mountinK to ».<J2.000 for ita ►inkinK fund. A I. at of the bida 
which were received for the eccuritua i* aa followa- 



Premium. 
P. F. Kelly, Phll»delphl»...*e,7i.O 
Street. W.vke« & Co., S. Y. 615 
«<•> uiour. Barto * i"o.. N. i . ■ilo 
SfMonenoA * .Mayer, Cin- 
olnnatl, Ohio 220 



hid. 
Z.T.IiB'Wlfi. n»Tton.Ohlo.$lOl 10 
■. B. Kolllni A Hon*. 

Ii...t..n , lOllO 

W K Thuiupaon * Co.. ,^„.,„ 

IMu.l.ur* lCO-«ia 

S. W. HurrU A Co.. N.Y. lOOtW 
W. J. H»jr» A Boon, 

tleTeUnd, Oblo 10080 

The loan waa awarded to Z. T, L«wi», of Dayton, Ohio. 

Hfthnen, M««8.-lhe people of thia town have voted in 
faror of iasuing water-worka bond* to the amount of f.Jd,uuu. 

Milford, Mich.— The people of this village have voted in 
favor of iaauing $18,000 of water-works bonds. 

Moberlr, Mo.— Five percent coupon renewal funding bonds 
of Moberly to the amount of $75,000 were recently sold to 
Meaara. G>aylo/d, Bleaaing & Co, at 104, the city reserving the 
right to allow holders of outslanding 6 per cent bonds to be 
redeemed by this issue the privilege of exchanging their old 
bonds at par and interest for the new 5 per cent bonds at 104 
and interest. The bonds called were to be paid June U, 1893. 
on which date intereat ceased. The new bonds bear date of 
July 1, 1895, and mature July 1, 1905, Interest is payable in 
January and July, both principal and intereat bemg payable 
at the Third National Bank of St. Louis, Mo. 

Montgomerr. N. Y,— On July 1, 1895, the village of Mont- 
gomery sold $28,000 of 4 per cent coupon water bonds to Ben- 
well ■A Everitt, New York, at 102 29. Interest is payable 
semi-annually on January 1 and July 1, and the principal will 
mature July 1, 1915. 

Seven bids in all were received for the loan as follows : 



Bid. 

Renwell & Evorltt, New York 102-2* 

Isaac W. Hbnrrill, Poiielikc-nioiie 10I-2&' 

Faraoo, l.paoli A Ci> , NVw York — 100-79 

Geo. M. Huliii, New York 100-27 

Walter StHOtua * Co.. New York 100-7« 

Jaa. W. Lonirstreol A Co.. Boston 10207 

Stem A Hmltb. New York 102-03 

New Britain, Conn. — The Board of Water Commissioners 
will receive bids for the whole or any number of fifty coupon 
bonds of the city, called " Water Fund of the City of New- 
Britain, Sixth Series Four Per Cent Bonds," of the denomina- 
tion of one thousand dollars each. Twenty-five thousand 
dollars of said bonds will be ready on July 20, 1895, and 
twenty-five thousand dollars of said bonds will be r^ady 
Aug. 1, 1895. Bonds are dated Aug. 1, 1893, and payable 25- 
years from date, with the option on the part of the city to pay 
the principal any time after 15 years from dat<^ ; interest at 4 
per cent, payable in February and August at New Britain. 

Proposals should be addressed Thomas S. Hall, Chairman 
Board of Water Commissioners at New Britain, Conn., not 
later than July 15, 1895. 

New York City. — Following are the bids which were re- 
ceived on July 8 by Comptroller Fitch for the purchase of 
$3,746,310 24 of gold bonds and stocks of the city of New Yorkr 
PAYABLE IN 1914. Amount. £id. 

New York Security ATruHt Co f 100,000 100-60 

New York fiecurliv & Trust Co, 1,^0,000 100-75 

New York Socurlly A Trust Co 391,500 101-00^ 

Henry O. Taylor 391.500 100'77 

A. Galot 3,871 100-25 

FA r ABLE IN 1920. 

p. White 9,500 100-05 

Oermania Bank 50,000 100-70 

Germaiila Bank 50,000 100-80 

Ocrinaiiiii Bank 50,000 100-90 

Uernianla Bank 50,000 101-00 

Elohard M. CorneU 922,000 100 77 

PAYABLE IM 1925. 

Ashhel P. Fitch, attorney In fact for Geo. Baess, 

Stutteart, Oennaay 8,000 lOl-OO 

A. Galot 10,000 100-25 

A.ISelln&Co 20,000 101-01 

Blohard M. CorneU 50,00u 100-79 

Total of was .$2,256,371 



NEW LOANS. 



BOND CALL. 



Lewis & Clarke County, Mont. 

OFFICE OK COUNTY CI.ERK AND RECORDER, 

LEWIS AND CLARKE COUNTY. 
TO WHOM'IT MAV CONCKRN : 

The Board of County Commiutoneni of Lewis and 
Clarke County, in the State of Montana, by virtue 
of a resolution duly adopted, do hereby irive noUce 
that oo the flrst day of July, ISSS, they will redeem 
and pay on. together with the ace ued tntereet due 
on that date, the outstanding bonds of said county 
known as Court Houi^c Bonds, to ^the amount of 
(l»o,O0a, at the Third .National Bank. In the City of 
New York. Said < ourt House bonds beioE of two 
laaues, the flrst of tlsa,O0O. due July 1st. 19U6. op- 
ttonal after Jnly 1st. 1801. and the second of ^lo.ono. 
doe May 1st, 1807, optional after May l.-t. lKg3; both 
Isanes bearlns Interest at the rate of six per centum 
per annum, payable semi annually on the flrst dayi« 
of January and July, and both series being Issued 
for the purpose of paylns for the erection of a Court 
Bonse In said county, under authority of the Isws 
of Montana. 

The said Court House Bonds being now dne and 
payable at the pleasure of Lewis and Chirke County, 
the holders thereof are notlfled th«t Interest on 
these iMnds win cesse on and after July )st. 18!"5. 
but that iho County Treasurer will at all limes 
thereafter be ready to re^leem the same on presen- 
UtIon, at their face ralne. and accrued Interest to 
jBly 1st, um. 

By order of the Board of County Commissioners. 
Attest, J. 8. TOOKER, County Clerk. 

BKLkKA. Mo^TAk'A, June 1st, 1895. 

"Principal and lutsrest of aboTe bonds will be 
paid on said date at either the Third National Bank 
■apwaboTeadTerllsementor at Konntie Bros, a^ 
tha option of the holder." 

By order of the Buard of County Commissioners. 
Attest, J. 8. TOOKER, Connly clerk. 



JULY 

INVESTMENT LIST 

Will be mailed on application. 

N. W. HARRIS & CO., 

BANKERS, 
IS WALL STREET, - NEW YORK. 



NEW LOANS. 



JULY INVESTMENTS. 



$500,00e HaBf actansetls Gold, 1920 3-1 

'-'00.000 Omaha, 1900 to 1901 5s 

100,000 Tacoma Gold, 1913 58 

160,000 New Britain, Ct, 1896 to 

1928 4s 

50,000 Harlborongh, 1915 i* 

40,000 Santos. 1904 to 1915 4s 

20,000 Methuen, 1924 4s 

25,000 Ballard, Wash., tJold. 1915.6s 

500,000 Lyon & Boston RR. 1st Mtg 
«old,1924 5s 

Write for July Bond List containiDg 
prices and particulars of above and other 
choice securities. 



E. H. GAY & CO., 

131 DEVONSHIRE STREET, 
BOSTON. 



838,000 
State of North Dakota 

20-Year 4 per cent Refunding 
Gold Bonds, 

Dated July 1, 18»6. Principal and Interest payable 
at the Chemical National Bank, New York. 

Street, Wykes & Co., 



44 WALL STREET. 



NEW YORK 



NEW LOANS. 



NEW LOANS. 
City of Portland, Ore., 

5 PER CENT GOLDBONDS. 
$200,000 BRIDGE, 

Due April I, 1923. 

$200,000 WATER, 

Dae July 1, 1923. 

Prices and full particulars npoD 
application. 

Third Nationl Bank, 

BOSTON, MASS. 

Cushman, Fisher & Co., 

50 STATE STREET, BOST ON, MASS 

BONDS. 



Municipal, County and State Bonds 

For Inveatora, Trust Funds and SavlDKB 
Banks. 

FOB SALE BT 

Rudolph Kleybolte & Co. 

INVESTMENT BANKERS, 

CINCINNATI, O. 
DescriptlTe Lints Mailed on Application 

AUGUSTUS FLOYDi 

dbaIjER in 

INVESTMENT SECURITIES, 

3'i PINE STREET, NEW YORK. 

STBKBiT RAILWAY BONDS BOUGHT and BOLD 



J\n.T 6. 1805. J 



THE CHRONICLE. 



39 



LOANS- W^**" ^>«<- 

FiRK HruKAarBoiiu*- 
3». MAN, 930.000 Nov. 1. 1925 

POUCK OBrABTMBKT BOSOS— 

39, MAS. «60,649-H».Sov. I. 192^ 
8*siT. IMF. 8cB. nors« Bosiiis- 

3«, MAN, •S.STl Not. 1, IVH 

School Houm Bosds— 

3s.MAN,«5;<9,889-&9.Nor. 1, 1911 



It is stated that the awards will b« made next week. 
The details o£ the securitiea which were ollered for sale are 
si Ten helow: 

LOANS- „''*«» ^*^ 

AODITIUXAL WAxaa BOHD»— 
3*, MAX, «391.500...NaT. 1. 1914 

ABMOBT BOSM— 

3s, MAN. «2T0,5O0...1IoT. 1, 1914 

UOnSOUDATBD STOCK— 

3s, M*v ».. •• •■•^it...Sor. 1, 1920 
3«, M V o... Hot. 1, 1914 

Sa.Mi.:-. ^.^ .„i,o.. .Not. 1.1923 

The loans are exempt from city and county tax but not 
from State taxation. 

NertkMiptoa, Maw.— OnVune 29, 1895, the city of North- 
ampton sold 150,000 of 4 per cent coupon high school bonds 
t -thaDipton Institution for Saringa at 107-15. The 

- are dated Jaly 1. 1895, interest is parable aeoji- 

■ nr.uaiiv on January 1 and July 1 at the Hampshire County 
NstioiMU Bank uf Northampton, or at the office of the City 
Trea«ur»r, and the principal will mature July 1, 1915. Prin- 
cipal and interest are payable in United States curreoor- 

Nortk Kaoxrille. Tena.— Sewer bonds to the amount of 
$90,000 and street improvement bonds to the amount of |33,- 
000 have been authorized by the Council. 

OiiMBta. N. T.— Bridge bonds of this municipality from 
tl ' .'JOO to 130,000 are under considwration. 

Phllmoat, N. T.— The people of Philmont bare Toted to 
coostruct water works at a cost of $10,000, lor which bonds 
will probably be issued. 

Port Cllatoa. Ohlo.-On July 2, 1895, the tUIsc* of Port 
Clinton sold $7,000 of additional water bonds to Meesra. 
Spitzer ft Co. for $7,081 snd accrued interest. Other bids 
received were as follows : 

8. A. Kean, Chicago. 111., bid $7,017 50 and aeonHd iater- 

»«t from May 1, 1895. The bid contained another oooditioo. 

: lyrs A Sons. Cleveland, Ohio, bid $7,017 SO and ac- 

' rtst from May 1, 1895. They also wanted $80 

• 'i them for expeoace of placing bonds, and the bid bad 

ooditions. 

.->• usODgcod & Mayer, Oncionati. O., bid $7,104 00 net. 



Portland. Ore.— On June 24, 1895, the City of Portland 
sold $200,000 of 5 per cent bridge bonds to Cushman, Fisher 
& Co., of Boston, at 115-65 and accrued interest. The securi- 
ties are dated April 1, 1895, interest will be payable semi- 
aanually on April 1 and October 1, and the principal will ma- 
ture April 1, 1925, both principal and interest to be payable 
i n gold coin at the office of the City Treasurer. 

^ix bids were received for the loan as follows: W. J, Hayes 
& Sods, bid par, interest and premium of $28,847; First Na- 
tional Bank of Portland .bid for $'.>5,U00 of the bonds $113 65 
and accrued interest: Cashman, Fisher & Co., of Boston, bid 
par and a premium ($31, SMI) and accrued interest; Commer- 
cial National Bank of Portland bid $-?36,600 and interest; E. 
H. Rollins & Son, of Boston, bid $113 and accrued interest; 
N. W. Harris & Co., of Chicago, bid $330,618 and acorued 
interest. 

PalaskI City, Ta.— Geo. M. Holstein, chairman of the 
Finance Committee, gives notice that this town will issue 
$35,000 of coupon bonds payable in gold or its equivalent . 
The securities are to be dated July 1, 1895, will bear interest 
at the rate of 6 per cent, payable semiannually in January 
and July at the Chase National Bank, New York, and will be- 
come due in 25 years. 

8t. Chartet, Hlna.— Proposals will be received until July 
l.'i. 188S, by N. D. Oould, City Recorder, for the purchase of 
$17,000 of 5 per cent water works bonds. The securities will 
be dated July 1, 1895, interest will be payable semi-annually 
at the Continental National Bank, Chicago, and the principal 
will mature at the rata of $1,000 yearly from Julv 1, 1909, to 
July 1, 1925. Both principal and mterest will Be payable in 
gold and the f^>ayment of any or all unpaid bonds will be 
optional with the city after fifteen years. 

St. Jtlia's, Mich.— The people of this village will vote July 
8 on issuing sleciric-light and sewerage bonos to the amount 
of $55,000. ^ 

ML Paal, Minn.— Proposals will be received until July 13, 
ISy'), hy J. J. M -(^.trdy. City Comptroller, for tlie purchase of 
4*1' !riess of the denomination of $500 

eu . of the collection of taxes. The 

•e<-ijri!ie« will iH? (latea July 15, 1895, interest at the rate of S 



NEW LOANS. 



BONDS. 



Baffalo. N. T . ;t'> 

!• tr It, Mkh 4» 

< ! I .>.:o. III. 1« 

laeloD, O 4« 

May niy. Mirk U 

South Bead, §■« 4. 

>aa4iuky. O. .'.« 

Jfartia's Perry, t> 4* 

Floreace, Ala $• 

Vsllejo, Cal. (y»l4, ,;., 

•"/.r LMMT ox Aei-LiCATIOX. 

W. J. Hayes & Sons, 

BWTOX ^CLETSLAJiD. 0. 

MORTGAGE LOANS 



TEXAS. 



* rev OSM mm* 9 Fer C*at Rot. 
rRA.^CIS SHITH * CO., 

•AH AMTOMI*. VESA*. . 



James N. Brown & Co., 

aAHKKRS, 
M 0*4mt MVM*. RBW TOKK. 



Mcairi'" 
BOUC 



■"TT. sniooL aifn 
A NO SOLO. 



Fred. M. Smith, 

7* NOirrn ktkekt. 

AITBIRX, XEW TOBK. 

MaftM f tHmitr ot Baak ftMkaMmMsai us 

I laforBsUoa 



NEW LOANS 



Indiana Illinois & Iowa 
Railroad 

5 Per Cent Gold Bonds of 1943. 

ToUl Interest nrroant $<4,000 

.Net eamiags for ie«rea41sr 

Jane SO. l^»4 ISH.OIO 

Net enralsfs fer niae miatk* 

endinir Marek SI. Ih9« 1H0.G91 

LlMrdsl Kew Y«rkM*ck Baekaas*. 
rOB HALB BT 

TAINTOR & HOLT, 

II MALI, ftTKKET. NBW YOKK. 



City of Boston Park 4«. - 1925, 

Cityof Detroit Park 3 (•2s, 1916, 

City of Grand Rapids, Mich., 

Refunding 4s, • • • • |9I5, 

And other High*Grdde Bonds 

Suitable for 8 ivings Banks, 

Trustees and Private 

Investors. 

i.im AjiD rt'i.i. PAHTiciTLaBS dpox 
APri-icaTioiL 

Farson, Leach & Co., 

S WALI. rritBBT, II. T. 



W. J. Hayes & Sons, 

BAKKBBS, 

Dsalsrt In MUNICIPAL BONOS, 
•UMt kaiiwkx Bond*, and othm .klsb cn4* In- 




CIcvaUstf. Okl*. 
Sll-Sia »iis»rUr «(. 

KMmtMTH." 



WAi: 



>;i.BCTBD WASH- 
-fOTOI* BTATI 
' It iOiOOL. 



JMO. r. UUU.H. dk CO« ■•Mil*. Wa«k. 



NEW LOANS. 



TROWBRIDGE &CO. 

I'illCAtiO, ILI.N. 

MUNICIPAL BONDS. 

KOH Jl'I.Y INVBMTUBH. 

W« owa aad offar for »al« Ui« f ollowtns lUt of 
Hrht^ii uittrlot and oihar eholos BoaS* «alaotad 
1r>fm uur Jair Ctrenl.r. 

SCHOOL DISTRICT BONDS. 



.. sir, III... \».Tmrit, 

tOoaaii. III... '•..•■rrt. 

~.noB Cuuiiti. lu... I & raarSi. 

I Gouotr. Ilia., f^ r«ar 7.. 

tl^.•>■l Tclluw MadlciiM IVanir. Mian., \ift»it». 

tt.eryj Kr.aboru CuDDty, Minn.. lo.|«arOa. 

COUNTY BONDS. 

(lo.a(U WItkIa Ceaalx, Mum., lo-jaar RafBiidtiis 
^i«,aM Wood Ooaatr. Wl* , l to ft-jaar JaU i*. 

MISCELLANEOUS BONDS. 

ir *». Aii.M . Mif.t; . 1 1 T<i«r Water f^s. 
rt^r Water Oc 
J9mj Wat«r(la. 
.if liuprnrcBiaatfla. 
:<> yoar Wat«r 0«. 
il«iuii4llntf lit. 
I wa. »^r*«r Waurto. 

' I'-. »^ far lUfnudtuO*. 

t 'i.iuiM, 11 s.j I 1*1 V'r«arH«w«r8B. 
' I>oua««. Ilia.. 1*10 7»arlmpruTaBi«ot 

$ ^utfbby,ofaio.90-rMrKlMUlo-U«ht5B. 

\N rtt« .'or our Jaljr Circular Mlvlnc full daaertption 
■ if III" a&<>vt. aad oiliw cbuioa laauaa ul Muaidpal 

ll'rl.'Js. 

Trowbridge St Co.(lncorporated) 

333 Vtrai NaiUaal Baak BiilldlDV, 
CUlVAiiO, ILIM, 



S3O,O0O 

City of Montgomery, Ala., 

20*Year 5 P. C. Paving Bonds. 

HonlaO bill, will baraceUad uaUl Juir Wtk, UOS, 
12 M.. r.>r thopnrcbuauf Tbirt; Thoniand DoUan 
citf of Moui«oaierr. Alabama, Sv-Taar 6)1 booda, 
daouoilnatiuu Utie lluiidrad Dollar* aaota. ona* 
twantlatb <,f tbapnn4p.laad tba Intaraat parabla i 
annnallr. Tba IntarcM and ona-twantlatb tba pria 
cipal l« ambtaoad In tba oonnoua, p.;aDla annnallr 
at tba Amailoan Kiobanita National Bank, New 
Yurk; alio at tba ofnoa of lbs (.'Itj Tr«<iar«r, MoD> 
iconarr. Ala. Tba elty reiar»« tba rlabi t<i rajaot 
aaj and all bid*. B. U. HUUMEIIVILLB, 

Traaaoivr. 



40 



THE CHRONICLE. 



[Vol. LXI. 



per cent will be payable ■emi-annually, and the principal will 
mature August 15, 1896. Bids must state distinctly how 
much will be offered in dollars and cents for each ceniticate 
■OTcr and above par and accrued interest. 

Stewart Connty, «a — W. W. Wood. County Treasurer, 
reports to the Chronicle that an election held June 19 on 
Usuinn $30,000 of court ho Lse bonds resulted in the defeat of 
the proposition. 

TrlK CoBBty. Ky.-Oo July 1,'1895, this couoty sold 
$15,000 of 5 per cent court house bonds to local purchasers as 
follows : 

Amount. Kid. 

Otaw.T Tart. •l.JJH) loo 71 

E. A. Sunn - LJOu }' n ??^ 

R. A. Iliirnrlt .522 VAlSi 

K. It HIriot 6,000 100-53 

jTB/oMMtt::;:::::::::.::.::.::.: moo 10075 

The securitiee are ditod July 1, 1895, ioteroat will be pay- 
able semi-annually, and the principil will mature July i, 
1910, with privilejie of redemption by lot after July 1, 1897. 

Warreo, 111.— Bondj of this municipality have been voted 
for water-works. 

Waterbnry, Conn.— Proposals will be received until July 
15. 1895, by Richard F. Orady, (Jity Clerk, for the purcUaee of 
$200,000 of 4 or 3' j per cent water bonds. The securities will 
be dated July 1, 1S95. interest will be payable semi-annually 
on January 1 and July 1, the principal will mature Julv 1, 
1910. Principal and interest will be payable by New York 
draft, if desired. One hundred and fifty thousand dollars of 
the bonds are to be delivered August 1, 1893, and the remain- 
ing 150,000 October 1, 1895. 

IfbeeliDir, W. >'».— it is reported that this city will issue 
1135,000 of bonds for an electric-light plant, etc, 

Wllliamsrille, N. ¥.— This village will issue bonds for the 
construction of water works, estimated to cost $20,000. 

WinSoiu, Minn.— Proposals will be received until July 19, 
1895, by F. W. Force, Village Recorder, for the purchase of 
$83,000 of water-workp, electric-light and sewer bonds. In- 
terest at a rate not to exceed 5 per cent will be pa} able semi- 



annually at St. Paul, Chicago or New York, at the option of 
the purchaser, and the principal will mature in 2i) years. The- 
village has at present no indebtedness, and its assessed valua- 
tion for 1894 was $340,000. 

Tonkeri), N. ¥.— It is reported that this city has sold $5,800 
of 10-vear street bonds at 101"18, $45,000 of 3-year refunding 
bonds at lOrOC and $6},O0O of 2 to 3 year asiessment bonds at 
lOl-iiO. The securities were all awarded to Messrs. Blake 
Brothers. 

STATE AND CITY DEBT CHANGES. 

We subjoin reports as to municipal debts received sine • 
the last publication of our State and Citv SctpplembnTi 
Some of these reports are who'ly new and others over items 
of information additional to those given in the SUfPLBMBXT 
and of interest to investors. 

Albaqaerqoe, N. M. — Following is a statement regarding 
the financial caudition of the town of Albuquerque in April, 
1895: 

Albuquerque is in Bernalillo County. 

Total debt April, 18!)5... $91,000 | Population In 1890 wns 5,518 

Taxvalimtlout804 2,417.009 I Population In 1880 was 2,315 

EBtliuiitcd real varatlon. 6,000,000 | Popiilatiou 1805 (ustlmated). 7,000 

Coleman, Tex. — A statement of the Snancial condition of 

this city is as follows: 

Coleman is in Colemin County. 

Total debt June, 1895 $15,000 I Real valuation $1,000,000 

8lLklu« fund 1,300 Population in 1890 was 90ff 

Tax valuation 1894 635,393 | Population 1895 (estimated) .1,800 

East Dabnqae, HI.— The financial cjudition of this city 

in April, 1895, was as follows: 

East Dubuque is in Jo Diviess County. 

Total debt AprU,1895... $14,000 I Population In 1890 vras 1,069- 

Tax valuation, 1894 280,003 Population in 1880 was 1,037 

Real valuation (est.) 1,000,000 | Population 1895 (estimated) .1,200 



NEW LOANS. 



MUNICIPAL BONDS 

FOR INYESTMENT. 



ARTIOCLARS CPOM APPLICATIOM. 



CU or THK NBW TORK AND BOBTCh 
STOCK &ZCHAN0R8. 

BBAJJIBa IN COMMKRCIAL PAPBB. 



Blake Brothers & Co., 

98 HTATK 8TKBBT,llBOHTON. 
• RA8HAD ST.. MBW YORK. 



BIVNICIPAL AND RAILROAD 

BONDS 

And all Local Hccuriiifn Ilonsht and Sold. 

NEW YORK, BROOKLYN AND JER 
8EY CITY BONDS A SPECIALTY. 

W. E. R. SMITH, 

16 BROAD NTRKKT. . MEW YORK. 



C. H. Van Buren & Co., 



BANKERS AND BROKERS, 



60 BROADWAY, NEW YORK. 



Atlantic Mutual Insurance Scrip 

BOUGHT AND SOLD. 

AUGUSTf'S FLOYD. 82 PIre St, N.V. 



NEW LOANS. 



C. H. White & Co., 

BANKERS, 
73 BROADWAY, NEW YORK. 

CItj, Connty and First Mortgage 
Railroad Bonds. 

LISTS MAILED. 



WHANN & SOHLESINGER, 

BANKERS, 
MUNICIPAL BONDS, 

a Wall Street. New York. 



W. N. Coler & Co., 

BANKERS. 

MUNICIPAL BONDS. 

34 NASSAU STREET. 



High- Grade 

CITY, COUNTY AND 

BONDS, 

Netting 4 to 7 Per Cent Interest 

We make a speclaltr of Hlgh-Clau Secarltlea 
snttabte for permanent iDrestment, 
Correipondence solicited. 

SPKAIN, DICKINSON & CO., BanJcers, 

10 Wall Street, New York. 



NEW LOANS- 



GEOReiA MORTGAGE LOANS. 

SOUTHERN LOAN AND TRUST COMPANY OF 

MACON. GA. 

J, 8, SCHOFIBLD. Pr©8. H. M. SMITH. Sea 

F. O. 8CH0FIELD, Treaflurer. 

Tbl8 company makes a specialty of handling a llm * 
tied amount of the best tive-year mortfiafre loans 
afforded by this community. Doing only a smalt 
buatneaa (n ifala line, we can select tbe beat. lK)anB 
secored by business property net the investor six 
per cent, residence, seven per cent. Principal and 
luterest payable at the MerchauU' Exchange Na* 
ttonal B%nlt, Now Vork. Oorrusoondence solicited. 

O.W.Haskins, E. W. SeUs, 



No. 2 Nassau Sthket. 



New Tobk. 



Offer their services to make 

PKRIODlCAl, AND SPECIAIi 

EXAMINATIONS OF ACCOUNTS AND 

RECORDS, 

INVESTIGATIONS OF AFFAIRS. 

and to Introduce 

SI.1IFL,E AND EFFICIENT METHODS 

OF ACCOUNTING. 

Over twenty years experience in the Operating 
Accounting and I^'iuHnciHl Departments of Hailwaye 
and othMr corporations, and have 

iDveatisated and Rpvlsed tbe Acconntlnr 
Syeteni of ilie United Stales GoTernment. 



^^ PECIAZ, JplZE f JOVEB 



f JHROlflCrE JgUFPI^EMBNTB 

Can be had at office for 63 cent*, or 
mailed for SO cents. 

WILLIAM B. DANA COMPANY, 

'>V«:Plne Kireet, New York 



WALSH &. FLOYD, 

36 Broad Street, 
STOCK BROKERS, 




xmtk 



HUNT'S MERCHANTS' MAGAZINE, 

BEPRESENTING THE INDUSTRIAL AND COMilEKOIAL INTERESTS OP THE UNITED STATES, 

[ KntAcwl aooordUu; to Aot of Ootufna; In the rear 1893, hj the Willi am B. Oaia Oomtamx, 1b Uia oOae of the Llbnrlaa o( Oonjn«M.) 



VOL. 61. 



SATURDAY, JULY 18, 1895. 



NO. 1568. 



%ht Chcouicle. 



i)irig->n with 1889 the gain ia seen to be 4 9 per cent 



in SabwrtiMea Six MoaU* dnelodlBC pMtac»>. 7 00 

8aba«rt|,Uoa In Looiloa (laaladlac poMace) Mi 10*. 

L do. do. A. «110l 



Terat of Smbacriptlea— Payable !■ A4Taaee: 

VerO>«Te«r _ flO 00 

VotMz MoatfeA. .••.••..••••,•.,..,,••............ .......... 6 00 

, BabMrtpUea aaaladla« poMan) 13 00 

SabwrtyMoa Six Moatfea (Inelodlac pMtace». 7 00 
tann'al 
Biz Mo*. 
n» Ivraaroaa' SorruniBirt win b« fnraUbad *«Aa«i »<r« ekarft 
to aTerr annual •ubaeitbar of the CamiBictAL Asn PiaAXCUL 
Cvaomcta. 

T<ij> itTATa AVD CiTT BtrprLaaaar wiU al*o t>e roratohad trilMoul 
'- to arny aabaartbar of tbo CaanaioLa. 

T Railwat aopnaoErr win ii)m-wi«-< b« faraubod wUA- 
. ... .!/-•« to a*«rr aabaeilbWBf UiarnBuairLB. 
Ttif \^^:••XK■t^oll Sarruuaaar, l««a«d moaihlr. will alto Im faralaked 
<r<iAaHi utra thartt vo •rurr Nbaartkav of Iho CHBniiici.B. 
'' * '■'^^-'-•araaold at SO eaaia aaeb: poataca na iha aasa U 18 
orar tor aapplaaaata oaa ba had at oflaa tor aft aaata or 
>eeau. 

lenu of A4T«rtttlBr— (Per iMh lyMO). 

Oaattma M 80 1 thrce If onlka (llllaMa)..99»00 

Oaa Month (4tt]naa).. 1100 MzMoatfea (tO " ).. «S00 

Two Month* (8 " I . 18 00 1 TwalTO Moalfea IB* •• ).. BOOO 

(Tha aboT* tanna (or ona aaoath and apwafd ara (or ataBdliic eacda.» 

LoBdoa AxeaU: 
Maaan. KDWAaoa A Barm, 1 Orapara' Oardaoa, B. C, vlll taka mb- 
asripVoaaaad adrartlaaaaau. aad aapplj atn«la ooptaaof tha papar 
at la. aaah 

WILLIAM B. BAHA OOHrAIIV, rahllakaro, 

Plaa Mr««(« Coraar •€ Paarl Btraai, 

Pott OrwiCU Box 959. NBW TOMB. 

CLEAR INO HO USB RSTURNS. 
The foUowiBK Uble, made up bjr teleicraph, eto., indiealea 
tliattholotalbank olearincaof all Um elearinc booaaa of the 
Uoitad Stataa for iha weak aodliiK t<Mlay, Juljr IS, ham baon 
tl.0«7.M8.94«. agaiaat |t.l47.aM,8»5 U«t weak and I88444S, 
349 the ocifwp w idh n weak of laat year. 



CLBABnaa. 




aaraaMtlaa. Sdar*. 
• ««ra. 



l*i«a«B«ara— 
AUctua*. 1 4ar - 

Tatal all aiUaa far waok 



Wtk m» Mm t /■.-( la. 



•«aii«4a,«*a 

B«.sto.e« 
MM4.mt 



* 1 .WM0» 

iioaa.iM 



8TMitT4.T8a 
llT.pn.41S 



m,4«8i, « » 



81.0e4jae.a4a 



8sra,Ma.4oa 

e8,taa.M« 
io.oti.ma 
iHPtAesT 

<t.887.4S7 
lAiM.a40 

Mioitao 



88t7.Ma.Tit 
ItLtTHTtl 



*7t»ai8.4pa 

ll*.aiT,TM 



8aa4.t4a.t4P 



Th« full detaila «f rbrlnga for tha week ooTered bjr the 
«bOTe abUamant will ba siTon next Saturrfajr. We canoot, of 
«oana, fomiah than to^y. bank clearinipi bpin« inn<l« up \>y 
tha TarlooB olHUiag b ouata at noon on Satunlar. aoJ benco in 
the abore the laat twenty-four boora of the we<>k have to be 
la all caaea cotimatcd. aa we ko to preaa Friday night. 

Our oaoAl detailed agnxca for tha prerioua week, corerinR 
Um retoma for the period ending with Saturday noon, July 
*. ara given below, and wo alao preaont the reatilta for the 
Oon w DO B d ln g w^k in 18M. U9f and ISM. In oompariaoo 
with tho pnoodinx week there ia an inoreaae In the aK^rcirate 
•schaDgea of ii««rly one hundred and flfipen million 
dolUra, and at New York the gain ia aeTenlyflTe mil- 
boiia. CoDtraatpd with the week of 1894 the total fur the 
whole country show* an incr^a^ of 39'8 per oent. Comparoil 
with tha werk of 1899 tt>e oarrent retama reoerd an rxcens 
of 1<»3 per e»ot and the Kain orer 1893 ia 9'1 per cent, <Jiii- 
nde of New York the iocreaaeorer 1894 it 18-8 per cent. The 
<)sar« oror IMS rtocbaa 11-4 par cent, and makioK com- 




> lotlaaladaa In miau. 



42 



THE CHRONICLK 



[Vol. LXL 



2HB FINANCIAL SITUATION. 

The industrial conditions all continue to show prog- 
rei>. A fact of injportance has been the foreclosure 
tale of the New York & New England Railroad and 
the purchase of the property by the Reorganization 
Gommittee. Common report says that the road has 
been bought for Mr. J. Pierpont Morgan and friends. 
This transaction gives promise that the road will soon 
be out of receiver*' hands and encourages the hope that 
it will be in such control as to be operated in harmony 
with other railroad interests occupying in some measure 
the same field as the New York & New England does. 
Rumors connecting the purchase with a combination 
including the Reading and divers other properties have 
been a source of amusement in Wall Street — probably 
gotten up as a kind of diversion these quiet summer 
days. At the same time the evidence would seem to 
point to a settlement in the near future of coal road 
differences and of progress in Reading's affairs. 

If any further evidence were needed of the great 
activity in the iron trade and in our industries gen 
erally (for the iron trade simply reflects the state ol 
general businesn), it would be found in the monthly 
statement of pig iron production given this week by 
the "Iron Age" of this city. We pointed out a month 
ago that though there had been very little increase in 
the output during May, and though iron makers seemed 
to be pursuing a very conservative policy, yet it was 
likely that during June there would be a very material 
increase in the active furnace capacity. This is what 
the figures now show to have happened. As against 
172 furnaces producing 157,324 gross tons per week 
June 1, the "Age" reports for July 185 active fur- 
naces with a weekly capacity of 171,194 tons — that is, 
there has been an increase during the month of 13 in 
the number of active furnaces and of 13,970 tons 
in the weekly product. To see how different this is 
from a year ago, we have only to observe that on July 
1 1894, when the trade was just beginning to recover 
from the effects of the strike of the bituminous coal 
miners, there were only 10 V furnaces in blast, with a 
weekly product of 85,950 tons, as against the product 
now of 171,194 tons. Perhap?, however, a better idea 
of the eiisting activity is furnished when we say that 
to find a product as large as the present we would have 
to go back fully two years, to June I 1898, when the 
output was reported 174,029 tons per week. Ic is not 
alone, however, that the production is expanding; at 
the same time accumulated stocks are being rapidly 
and miterially drawn down, tlie aggregate of these 
stocks (sold and unsold) being given as 543,382 tons 
July 1, against 048,132 tons June 1, 780,72'J tons 
May 1, and a still larger total .the month pre- 
ceding. 

But if the trade situation at present is satisfactory, 
the promise for the future is no less assuring. The 
prospect for succeeding months will depend very 
largely upon the outcome of the growing cereal crops. 
And in that particular the reparts ciuld hardly be 
more flittering. The Ajsricultural Department has 
this week issued its statement on the condition of the 
crops the first of July. It is somewhat surprising to 
find that the D^fpirtment reports a further lower- 
ing of the condition of winter wheat (this 
being in conflict with advices from other quirters 
which have indicated an improvement), and now 
makes the arerage only 65-8, against 71-1 on the Ist 
of June and 83*9 on the 1st of July Ja« year. But 



with that exception, the report is exceedingly encour- 
aging. For spring wheat the general average is giveo- 
88 high as 102'2; a year ago the condition was reported' 
only 68"4. The contrast between the two years not 
only suggests that the Northwestern grain-carrying 
roads are going to have a very much larger tonnage in 
wheat the coming twelve months (barring mishaps 
between now and harvest time in August) but that i\\» 
increased yield here will in the production of the conn- 
try as a whole serve to offset the loss in winter wheats 
The following table furnishes a survey of the generai 
crop situation for a series of years. 





1895. 


1894. 


1393. 


1892. 


1891. 


1890. 


1889-.. 


Corn 


. 99-3 


950 


932 


81-1 


92-8 


931 


90-3 


Wluter wheat... 


.. 65-8 


83-9 


77-7 


896 


96-2 


''6-2 


920 


Bprlng vbeat .. 


.102-2 


68-4 


741 


909 


941 


91-4 


83-3 


Data 


.. 83-2 


77-7 


88-8 


87-2 


876 


81-6 


94-1 


Rye 


.. 80-7 


87-0 


85-3 


92-8 


93-9 


92-4 


96-6 


Barley 


.. 91-9 


76-8 


88-8 


920 


90 9 


88-3 


919 




.. 01-5 
.. 83-3 
.. 85-9 


92-3 
89-6 
810 


94-8 
82-7 
930 


900 
869 
92-7 


95-3 
886 
911 


91'7 
91- 1 

8S-2 


951 




87'» 


Tobacco 


89» 



We would particularly direct the attention of thfr 
reader to the figures for corn. That crop transceids- 
in importance any other which the country produces. 
The Agricultural Department makes its condition 
almost perfect, that is, 99-3. We would have to go 
back a great many years to find an average equally 
high. For many of the leading producing States the 
averages are reported above 100 — Iowa 105, Missouri 
109, Kansas 104 — and not a single large producing 
State has what might be called a low average. At the- 
same time the acreage has been increased. The De- 
partment makes the increase 6 million acres compared 
with the AX^B, planted in 1894. Bat nearly 14 million 
acres had to be abandoned before harvest time last 
year, so that when comparison is with the area har- 
vested the increase is almost 20 million acres, as shown 
by the following: 

ACBEAGB AND OOKDmOK OF CORN ON JULY 1. 



Iowa. 

IlltnoU 

Missouri. 

Indiana 

Ohio 

Kansas 

Nebraska 

Wisconsin 

UlohlKan 

Minnesota. 

Teras 

Tennessee 

Kentucky 

PennsylTania 

Oth. SUtes & Ter's 

Total 

Per cent of Inc. or 
dec. In acreage... 



188S. 






6,8!2 
*l.618 
3,702 
!«.t<4a 
>j,426 

1.011 
994 
l,2o2 
4.08' 
3,!)aB 
3,011 
l,2^8 
•i)i,501 



,S-J.304 



3,122 

3,872 

3,278 

3,SS3 

2,737 

3,732 

«,SOI 

78^ 

»38 

l,0!i9 

3,649 

3,108 

'.t,l>B2 

1,873 

2U,148 



Il50la!i,-Wi2 



9,429 

6,217 

3,670 

3,4S6 

a.710 

«i,B47 

0.241 

972 

919 

887 

3,476 

2,038 

2.*^94 

1,278 

40,227 

»a,03« 



-fa-o 



»,075 
6.310 
3,505 
3,62' 
2,89' 
3. 98 3 
3, -572 
l.OOi 
929 
896 
3,441 
3,018 
2.961 
1.299 



.. 2«,296 
81-1 1? 0,62 



1891. 



9,seo 

7,011 
6.7S» 
3,71* 
2,910- 
3.314 
4,76* 
1,113 
1,056 
815 
3.622 
3,637 
2,760 
l,39r 
21,70» 

76,204 



4-5-» 



^^ Three olpbera (.OOJ) omlttecl trom acreai?e ttjturcs 

Based on the foregoing figures of acreage and con- 
dition, estimates make this season's probable corn crop 
over 2,300 million bushels. For 1894 the yield wa& 
only 1,2 12 million bushels. A thousand million bus lels 
more corn, what an immense difference this will 
make in the industrial situation ! Of course, it is a 
long time yet to harvest, and unfavorable weather mayjj 
entirely change tho outlook, just as it did last year anc 
the year before. But in any event it seems likely that 
the yield will be better than in 1894, whatever happens* 
Last year the hot winds had already done considerable 
damage by the middle of July; now there is not even & 
suggestion to that effect. Moreover, should hot winds 
come later on the crop is better prepared to withstand 



JULT 18, 1895.] 



THE CHRONICLE. 



43 



their effect, since there is a reserye of moiature ia the 
groand which did not exist a year ago. 

The avidity with which the reporta of the proceed- 
iDga of the New York State Baakere' Association at 
Saratoga this week have been read attests the interest 
felt in the deliberations of that body. We give a brief 
acconnt of the doings of the Conyention in another 
part of this issae. It was of course a foregone coa- 
ciusion that the Association shoald come out strongly 
in favor of sonnd money, bnt th« resolutions adopted 
on that sabjeot arts so clear aid podtive that we like 
them much. What conld be more expressive and em- 
phatic, or compass the subject more completely, than 
this declaration — " We favor a currency, sonnd, tins 
tic, and good as gold — good everywhere, good 
by the standard of the world, and good in 
the marts of the world ; as good in the 
hands of Ubor as in the hands of capital." As to the 
supplementary resolution adopted, favoring the ap- 
pointment of a commission, under authority of Coa- 
gress, composed of experts and businew men, whose 
duty it shall "m to report to Cingreis for its considera- 
tion a comprehensive currency system, we can not sty 
that that appeals very strongly to ns. We bare nevpr 
yet known of a commission of that kind which proved of 
any practical utility, and unfortunately there is no 
reason to think that Coogress woatd pay any special 
heed to their recommendations. The present wm the 
Kcond annual mevting of the State Bankers' Associa- 
tion, and there is reason for congratnlstion in the fact 
that the place of the retiring President, Mr. William 
C. Cornwell, of Buffalo, who has so ably attended to 
the duties of the position, has been well filled in the 
election as his snocesior of Mr. James Q. Uanaon of 
the F. nrta National Bank of this city. 

The money market furnishes some features of general 
interest. Money has apparently pasted the point of 
greatest depression. We do not mean there ia as ret any 
marked increase ia activity but there is a firmer feeling 
for money on time and for commercial paper. Bank 
managers anticipate better rates in the near fntnre. 
and, aa one bisnk officer expressed it to n», they hope to 
have a good 5 per cent market before long. Gurrencv 
ia now moving to the interior a little more freely: 
business has began to improve almost everywhere 
and crops are nearing the period when bar- 
Testing will be nnder way, ao this movement i* 
expected soon to increase materially. The 
Treasury Department will not require from the banks 
the deposit of gold for the transfer of currency. The 
banks will be supplied at the sub -treasuries with small 
notes in exchange not only for gold and gold certifi- 
cates, but also in exchange for large denomination:! 
of currency. At the same time the Treasury will kevp 
oat of the express business and will not transfer the 
notes at the cheap ra'.es which were granted previous to 
last fall ; nor will it act ai agent for ttie banks in any 
particular, but the notes frill be supplied for paper as 
well as gold freely to all applicants, and those who re- 
ceive them can retain them for home use or send them 
to their correspondents on such terms aa they can 
mske with the expreM companies. This is the same 
system which prevailed a year ago. 

Treasury officials continue to be satisfied with the 
outlook thus far in the fiscal year. The heaviest 
payments for July are now nearly over. Of course 
the interest ptymenta (reaching about 7^ million 
dellars in July) are all made in the first half of the 
moQib. It If ezpeo'ed that tie miutli's pentien 



disbursements will be substantially reached by tho 
15th instant. Columbus, Ohio, which is the largest 
disbursing centre, does not pay in July. The change 
in the method of pension payments which was recom- 
mended by S.cretary Windom in his annual report for 
1890 has been in every way advantageous. Previously 
disbursements were concentrated in the beginning of 
each quarter of the year, and the result was that large 
amounts of money were practically locked up until the 
distribution was over. Now the eighteen pension 
agencies are divided into three groups, the first paying 
one month, the second the next and the third the 
following month, and in this way payments are mor» 
equally distributed. 

Money on call, representing bankers' balances, loans^ 
at 1 and at 1^ per cent, averaging about If per cent on 
good Stock Exchange collateral, while on ordinary 
security the rate is 2 per cent. Banks and trust com- 
panies are making no new loans below 1^ per cent, and 
none appear to be pressing their offerings. A few of 
the large banks are entirely out of the market as lend- 
ers on time and as buyers of commercial paper unless 
the latter is very choice. Interest-paying banks are 
expecting wil^idrawals of money by their correspond- 
ents and therefore they are not doing much on time, 
and are insis'.ing npan rates for commercial paper 
which are generally above the views of the brokers, 
some of theae banks holding off for 3^ and others for 
4 per oent u the lowest. Trust companies are willing 
to loan npou time for periods extending into the neir 
jear, but banks as a rule hesitate to make such 
engagements. The demand for time contracts is fairly 
good and the offerings moderately large, but rates are 
firmly held and quotations are 2 per cent for thirty to 
sixty days, 2| per cent for ninety days to four months, 
and 2}<S3 per cent for five to seven months on good 
marketable collateral. Banks with extended corre- 
spondence report re-Jiscoanting somewhat limited and 
confined to the West and Northwest, but there are 
numerous inquiries from the Southwest, indicat- 
ing a good business later on, especially in Texas, 
where the trade outlook is very encouraging, 
promising active employment for money. As noted 
above, the demand for commercial paper is somewhat 
restricted because of the wide divergence of views be- 
tween bayers and sellers and this results in an acca- 
malation of old names in the hands of brokers, and not 
much new paper is being made. Quotations are firm 
at 3 per cent for sixty to ninety day endorsed bills re- 
ceivable, 3(S3i per cent for four months' commission 
house and prime four months, 3i®32 per cent for 
|)rime six months and 4®4i for good four to six 
months single names. 

There was no feature of importance in the European 
markets this week. The Bank of England minimum 
rate of discount remains unchanged at 2 per cent. 
Tne cable reporta discounts of sixty to ninety- day 
bank bills in London 9 IC of 1 per oent. The open 
market rate at Paris is !( per cent, at Berlin it is 1^ 
per oent and at Frankfort 1| per cent. According to 
oar special cable from London the Bank of Eagland 
lost £46.3,632 bullion during the week and held at the 
close of the week £37,470,206. Our correspondent 
further advises us that the loss was due to the import 
of £243.000 (of which £133,000 were bought and 
£110,000 were imported from Australia), to shipments 
to the interior of Oreat Britain of £107,000 and to 
exports of £300,000, of which £200,000 were to the 
Oape and £100,000 to Turkey. 



u 



THE CHRONK^LE. 



[Vol. LXI. 



The foreign exchange market has been strong this 
mek at the hiKhest points of the year for nominal 
ntes, while those for actual business in long and she rt 
aterling have been the highest on record. Prime com- 
mercial sterling is quoted at higher rates than sixty 
day bankers' bills ruled at during the latter part of 
April when exchange was at the highest points. There 
•re 80 few bills that they are eagerly sought and 
promptly taken when offered, and they are chiefly 
confined to drafts against provisions. As soon as 
grain begins to move early shippers will probably ob- 
tain better figures for their bills than were ever known 
in the market. The supply of security bills has been 
moderate this week, but it is likely that large amounts 
will soon be drawu. It was announced on 
Tneaday that the Pennsylvania Railroad Com- 
. pany had arranged with Speyer & Co. to 
•ell in London £1,000,000 sterling 3^ per 
cent fifty-year bonds of the consolidated mortgage. 
The subscription books were opened in London yester- 
day July 12 at 10 A. m. and closed at 10: 30 a. m., the 
loan having been very largely over- subscribed. There 
was a report early in the week that Messrs. J. P. Mor- 
gan & Co. had placed ia Europe another large block of 
Southern Railway stock, and later a well sustained ad- 
Tsnce ip Louisville & Nashville gave color to a re- 
port that the European holdings of this property had 
recently been largely increased. Bankers in a position 
to be well informed say that the offerings of bills this 
■week have been mainly Syndicate bills, and this state- 
ment is confirmed by other bankers who have been 
able to locate the source of supply. These drafts have 
not been freely offered, but ouly in such amounts as 
would satisfy the most urgent inquiries. Of course 
the advance in rates for actual business in sterling 
could scarcely fail to revive reports of intended gold 
shipments, but there have not been the slight- 
est indications that such were ever contemplated. 
Messrs. Nesslage, Colgate & Co. will send out, it is 
true, 1250,000 gold by the Campania to-day, but this 
is made without reference to market conditions, as a 
Bupply of bills could easily have been obtained. The de- 
mand for remittance has been good, with an abatement 
in the inquiry to remit for coupons. Oa Monday the 
market opened strong, and Lazard Freres and Baring, 
Magoun & Co. advanced their rates for both long and 
ihort half a cent. Rates for actual business in short 
aterling were raised to 4 89f@4 90, while cable 
transfers were 4 90@1 90^. Prime commercial bills 
were quoted at 4 88i@4 88i and documentary at 4 87i 
@i 88. There was also an advance of about | of 1 per 
cent in francs, of 1-16 in long marks and of the same 
in guilders. On the following day actual rates for 
sixty-day sterling were advanced to 4 89@4 89:^ ; for 
short to 4 90@4 90^ and for cable transfers to 4 90^® 
4 90|, while prime commercial bills were quoted 
at 4 88|@4 881 and documentary at 4 88@4 88|^ and the 
tone was firm with a good demand to remit by the 
mid-week steamer. The market was firm again on 
Wednesday without any change in rates. On Thurs- 
day the tone was dull and steady and the Bank of 
Montreal advanced posted rates half a cent for both 
long and ehort, so that rates by all the drawers were 
uniformly quoted at 4 89^ for sixty day and 4 90| 
for sight ; but yesterday the Bank of Montreal 
advanced half a cent more to 4 90 for long 
and 4 91 for short. The following table shows 
dally posted rates for sterling by the leading 
drawers. 



Frt., Mon.. 

Jul J 5. JnljS. 

jeoday... 8BM 88K 

J Sight B0>» 

Bartns, (rtOdaj*.. 89 
Macoun ftCo.iSlKtat 



Tues., Wed., 
July 9. July 10. 



Brows Bra*. 



90 

Bank UrltLih (OOdaya.. 89^ 

No. America.. (Sight 90X 

Bank or (60daya.. 89 

Montreal tSlnht 90 



89« 
90>t 
89^ 



Oanadlan Bank ) 

of Commerce. ) 

Ualdelbacb.ick' j 

elbetmer a Co ^ 



aodays.. 

Sliiht 

HO days.. 
Sight 



8»M 
«0H 

8»« 

COM 

88 
90 

89 (« 

80M 



90 
f9 

90! 



90M 

89M 

KOM 

.S9M 

90M 

89 

»0 

88M 
00« 
BUM 
90M 



69W 
90M 
89M 
90« 



'^ 



90] 

S9M 

90)« 



am 

90H 

89M 

90M 

89^ 

9fl« 

8» 

90 

89W 

90« 

SUM 

90« 

89« 

90M 

89M 

90)* 



Thuni„ 
Jnly 11. 

89M 

90M 

89M 

»oS 

89W 

00« 
8»H 
90 >a 
SSM 



&9W 
90X 



Frl., 
July 18. 

89M 

»«M 

89K 

9CM 

89M 

90M 

90 

91 

eon 

90K 
8»)« 

mi 
sow 

»o« 

80M 

»0K 



U«mlFrere...jm»^'!-. 

Uerobanta' Bk. (oOdaya. 
ot Canada....) Sight.... 

The market closed firm on Friday at 4 89i@4 90 for 
sixty day and 4 90i@4 91 for sight. Rates for actual 
business in sterling were 4 89@4 89i for long, 4 90® 
4 90^ for short and 4 DOi for cable transfers. Prime 
commercial sterling was 4 88i®4 88i and documentary 
was 4 88@4 88^. 

The returns of earnings now coming in for the first 
week of July show in many cases very striking gains, 
ffor instance the St. Vaul reports earnings of *512,901 
the present year in that week, against only $312,317 
last year, the Wabash $224,199, against $45,267, the 
Denver & Rio Grande $135,100, against $49,400, &c. 
The explanation, of course, is that we are comparing 
with the period of the great railroad strike last year, 
when a large part of the mileage of the country was 
completely tied up for a time. Only 47 roads have 
yet furnished returns for that week, and for these 
aggregate earnings the present year are $4,315,316 
against $3,124,183 last year, an increase of $1,191,133, 
or 38 -12 per cent. The exhibits have been making better 
comparisons each month recently, as shown in our 
article on another page reviewing the figures for June 
and the half-year. 

The Illinois Central statement of gross and net for 
May has been issued this week and reports $223,962 
increase in gross and $203,771 increase in net. The 
Atchison also has a good exhibit, showing $168,- 
691 increase in gross and $150,256 increase in 
net. The Union Pacific Denver & Gulf for 
the same month reports gross of $395,219 
against $238,613 and net of $51,106 against $53,- 
799; the Mexican National gross of $369,506, 
against $378,533, and net of $169,878, against $169,- 
S71 ; the Pacific Mail $462,315, against $454,706, and 
net of $113,917, against $148,009, and the Philadel- 
phia & Erie gross of $379,387, against $309,608, and 
net of $125,514, against 80,553. The Ohio River has 
net of $18,111, against $18,843 ; the Indiana Decatur 
& Western $16,441, against $757 ; the Mexican North- 
ern $31,891, against $31,820 ; the Chicago & West 
Michigan $20,874, against $22,195, and the Detroit 
Lansing & Northern $22,821, against $16,125. 



Same of Boad— 
Atchison Top. & Santa Fe . 


.Gross 
Nat 


1805. 
t 

8,879,043 
685,558 


1894. 1893. 
« * 
3,110,358 •4,S61,838 
515,206 »1,637,400 


1898. 

« 

3.770.64 1 

1.448.744 


, hlcago & West Michigan. 


.Gross 
Net 


138.082 
80,871 


120,129 
28,lu5 


i;4,e35 
11,100 


160,717 
45,568 


Detroit Lans. & Northern. 


.Gross 
Net 


98,817 
88,881 


83.660 
16,188 


101,060 
17,861 


93,761 
16,931 


IlllnolB Central 


..Gross 
Net 


1,651.83J 

577.819 


1,481,871 
374.0J8 


1,739,507 
653,. 17 


1,458,364 
850,658 




lud. Decatur k Western.. 


.Gross 

Net 


41,768 
16.141 


30.216 

767 


33,707 
6,311 


30,863 
1,082 


M exic&n National 


.Gross 
Net 


R69.506 
169.878 


878.53.1 
IBO.Sil 


873.734 
111.857 


330,853 




110.764 




.'Irons 
Net 


61.007 
18.111 


(.4.«.i4 
18.813 


28,918 


68 711 




23,508 



I 



* Colorado Midland Included In 1S93, but not in the other years; the figures 
for that road for 1893 not having been published. 

The following statement gives the week's movements 
of monej to and from the interior by the New York 
binks. 



JiTLT 18, 189S.] 



THE (HRONICLR 



45 



Wmk mnt^t JWk 13, law. 



la. r. OmJU. S. r. SanJu 



CarraBor 

tU. - 

T»«al MfM M* lt»l «— 4 



tftf /iturui' 



s,Mi.ooo •2,958.000 nsiB. *eHS.<M)u 
460.000 soo.ooo OaiD. leo.ouc 

t4.ioi.ooo "w aw uoo)«*M«. wts.ouo 



With the Sab-Treaniry oper<itionB (he reialt is a> 
follows. 



Jull 11, UM. 



InU 



OM*f 



ir«i( 

BaiUBM««a< 
nx, M BboTe'^lOLOOOl S3,96«10M Osla. «H4S.0nb 



14.800,000; lt.500.000 O^n. 300.0410 



l«>. T »Mi nr yg»«r «U i»i n 

T<l«»ltoW»i»ai«««lt«Dl«'r«.....>r9.W1.006«lT.7ft».0O0 ialn 1.14».00f 

The following Uble indicatos the amoant of bullion 
In the principal Earopean banks this week and at the 
oorresponding date last year. 



Jvly II. I 



SaU. 



MH«r. 



IMaL 



• I S S 

Kxlaad «7.tTM») ■ - tljnM*. 

rrmae* «L««,M»'««.n*.l«5 UtjMllT« 

G«rsuBr I M3»«.1M i4.Ma.aM iMMiwa 

Auc-Buw';: lli,»lt,«ou AtlT.0O» 

■paia s,aetjH* lutaiaaa 



/Mft laia 



«•(.■•<«■■.' «.t*MSi 

*o(.tki« wMk 1HJMLM4 nugM,4n t«,«niiT« 

Tu n. pc«T. w» i»o«w.T«« wiwMa* »»J»«.7»« i<»i.uSL»a»«,caMW tti.i'^.m 



na«a.si7 
•i/<M.aoa|niaM,«e<i| «4Mt,iK~ 

iMai,ot>« 
'vrjiMT «f!i<a stT 



•link 



T««» 



^ St7/?J? WAV TO DEFEAT FREE SILVER. 

An aronting instance of over-acting has been the 
part performed bj some of the silTer newspapers in 
the Sonth during the past fortnight or more in denun- 
ciation of our article of three weeks ago entitled " A 
Sure Waj to Defeat Free Silrer." Nothing a man 
who bogs an error is so sensitiTe abont or reaents so 
quicklj as a plan fur educating hiniielf and bis fol- 
lowers. Just now, too, the thought had got to be a 
pecoliarlj distasteful one. Tnese Southern " Silver- 
ites" had well-tigh made tbemselTes think their 
numbers equaled their noise. A few public neetinK« 
held in Kentucky and a few capital addresses for elu- 
cational purposes serrcd quickly to undeoeire thum. 
So when we proposed, as the way to defeat free silver, 
more meetings, more addresses, and more education, it 
is perhaps hardly to be wondered at that then*' 
Ishmaelites should in their rage wrap their cloak of 
ielf-righteouioess about them and, like a itrollinK 
company of barn-stormers, " tear a pauion to tai- 
ters" in protesting against this " bold and braz<jn" 
effort to cormpt their few remaining disciplea. 

Bat we have no wish to measure words with that 
class of people ; their news they will of course support 
in the way most congenial to themselves so long as 
they caa muster into their serrice a profitable number 
of readers who lore misstatement better than truth. 
There is though another body of men our article hs8 
brought to oar notice for whose errors we hare a some- 
what different feeling; for they have written us thnt 
they hare been conttant readers of the CnROXicLR for 
a quarter of a century, or more or less, and yet some of 
them ttiti seem to be groping in the dark or at leaxt 
in the twilight. What is worse too, they hare u 
notion, gathered we must presnme from the falte 
a*«»T!>ns of certain of the newspapers referre<I to 
abr>v> , that they see something like a iqaint towards- 
corruption in what we wrote. Here is a lample letter 
— not precisely a sample either, because this cirretpon- 
dent pats his words in a much broader form, and w>- 
have (elected hi* communication on that account. E.» 
makes the direct and open charge that the Chronicle 
in the article mentioned " advocates the lavith use of 
money for the thinly veiled purpose of corrupting 



Southern papers and politicians." Since this assertion 
follows the claim that the author of it has been a con- 
stant reader of the Chrontclk for twenty-five years, 
we assume that he means to state the truth and is a 
fair enou(i;h man to wish to withdsaw his charge if, on 
examination, it cannot be supported. 

Qaltestos, Texas. JhIv 1, 1895. 
Ed. Financial and Commercial 'Chronicle. New York: 

DXAB Sir— As a oonstant reader of your p»p-r for twenty- 
tio.. ro.,r>, I cannot but coifeaa to a fedinK of ahame and 
Hin which overcam» me in reading your article, "A 
. ly To Defeat Fro.- Silver." 

t* it poe^ihlp that a hitherto clean and con^errativi* paper 
like the CnROSicL.B advocates the lavish use of money for the 
ihinly-veiled purpose of corruptiag S mthera papers and poli- 
UciaoB? 

I* this what the Reform Club and WslI Street oall a cam- 
pa<(^ of education ? 

Already the flooding of the country with p\t«nt Reform 
Club literature has acted as an irritant on <he Souih and 
West, and kmxrioK as I do the S^mthern ehir^icttr I fear 
iltat your ill-adviaed oonrte will have a most nafurtunate and 
I'tntrary elTtct. Your* truly, 

KOB'T BORSKFELD. 

It will be observed that our correspondent, as stated, 
plainly charges duplicity and corruption — that is to 
say, a corrupt object thinly concealed. The most 
charitable excuse we can give for him is that he has 
not read the article in question except in part and very 
carelessly. A 'curious coincidence is that what the 
wiitar says bean a strong resemblance to what a news- 
paper said before him. That fact, taken in connection 
with the irrelevant character of the criticism, favors 
the presnmption that the letter was written without 
any<real knowledge of the contents of the article. Our 
proposal is wholly free from disguise or concealment. 
No excuse bnt ignorance can be offered for misunder- 
standing a single statement — not a word or sentence 
permits of a doubtful interpretation. Tne purpose 
too for which the money was to be used is set ont 
distinctly and placed beyood misoonceptidu. After 
having at considerable length disoribnd hvw much 
already had been done toward freeing men's 
minds in the South from error on the subject in con- 
troversy, and how at the moment all the facts and 
diiclosnrea tended to disprove the claims of the free 
silver advocates, we aiked that money bo kitcu so that 
the work "of educating the people," wnich had thus 
been so successfully begun, " could be continued." 
Kven if we had stopped there no one would have the 
right to impugn onr motive or misstate our purpose. 
But to bring the proposal within the toope of the least 
active "silverite " mind and prevent any one's stumb- 
ling over onr words, we went on to explain what work 
was meant by adding — "a work that is most effectually 
done in that section" [that is in the South] "by pub- 
lic speaking and public meetings." Oertiioly it does 
not nqu're a high degree of intell'gence to understand 
that sentence ; nothing in it admits of a double mean- 
ing ; the object referred to and the chanricU speciSed 
for commubicating wiih the people are hs well known 
to the writer of the above letter as his own name. It 
is consequently necessary to actually add to and dis- 
tort the words and the intent of the article to draw 
from any part of it an implied suggestion to raise 
money for corrupting "Southern papers and politi- 
ciars." 

Moreover there is another proposal in what we wrote 
which forecloses any low interpretation of the sort 
given in the above letter. The article suggested that 
the money to be raised should be disbursed through 
the New York Chamber of Commerce Committee- 
What we sought was to put the funds in the hands of 
men absolutely beyond a suspicion of corruption, and 



46 



THE CHRONICLE. 



[Vol. LXI, 



that aim and end could not have been attained in any 
way more f ffectually. The object was national in im- 
portance and in our yiew aacred in charaot*r. It 
BODght to help Bare the country from a great disaster 
and the poorer sections of it from irreparable loss. 
One needs no concealment under such circumstances. 
Hence we said in substance or in effect— place the 
money which is to be collected in the hands of men 
whose names are an assurance that every cent disbursed 
will be for an honest purpose, and the character and 
direction of the disbureement be made public if re- 
qnirtd. In these ways we not only stated plainly the 
obj(Ct to which the contributions were to be dedicated, 
but we provided, if our suggestion was followed, that 
the money should be so guarded as to be placed beyond 
the power of any man to misuse it. The writer of the 
article might hare been as corrupt as the imagination 
of the author of the above letter describes and yet the 
fund would be safe. 

We think we have said enough to show oar corre- 
spondent that his words are libelous and not correct. 
But we would ask, is he correct in his estimate of 
Southern character ? His method of stating his posi- 
tion as a jud^e on that point has quite an ex cathedra 
air. It requires as to believe that politicians in the 
South as^a body and the newspapers there are purchas- 
able. Of coarse we cannot assume to know as much 
as the writer of the letter does about "Southern Char- 
acter." And yet we have a wide acquaintance in the 
South, and our experience has been very favorable 
indeed. All the Southern men we have ever met have 
appeared to be liighly honorable people. We have, too, 
some close friends in that section of long standing 
whom we do not believe any man would dare approach 
with a corrupt suggestion — as true men as live on the 
earth. Through our experience thus obtained we had 
become of the opinion that the residents of the South- 
ern section of our country were as a class peculiarly 
clean, and that those who had any influence worth con- 
sidering, both men and cesvspapers, could not be 
bought. Even had we been in the corruption business, 
the last section of the country we should have chosen 
for our operations would have been the South. We 
are inclined still to think that judgment is correct. 

One single thought more. Our correspondent speaks 
of fetling "a sense of fhame and humiliation" at the 
suggestion of New York contributing towards the nec- 
essary expenses of conducting a canvass in the South- 
ern States. We have seen the same pious horror ex- 
pressed recently in a Southern silver newspaper, and 
it is such a remarkable assumption of virtue or exhibi- 
tion of ignorance, we do not care whic i it is called, 
that we cannot help referring to it. We do not believe 
that an election iu any Sout'iern State eVer occur? hav- 
ing a cational importaoce attaching ti it in the course 
of which some of the candidates do not receive from 
other States contributions of money to meet some 
portion of the expenses. That there is anything 
" humiliatiog" in such an application or wrong in re- 
sponding to it favorably is a novel idea. The obtain- 
ing of money is some times accomplished privately as a 
personal matter, but every Coogressional year it is 
done openly through campaigu committees. In the 
latter case a committee of each party exists at Wash- 
iDj{ton for the purpose of forwarding the elections. 
Not OLly are documents sent but all the money the 
committees can raise in New York and elsewhere is 
distributtd to help pay expenses— putting the money 
whtre most needed and where it is believed it will be 



moat effective. In a Presidential year this kind of 
work is also done by a general committee not only for 
the purpose of helping to elect the President but also 
of helping to secure the election of all the other can- 
didates of the party. 

In brief, as every one knows, the workers in a party 
on occasions when an election affects questions of na- 
tional importance invariably look to the richer men be- 
longing to the same organization in their own and other 
States for assistance. So far as the money received is 
spent properly neither the suggestion nor the transac- 
tion has ever given rise to "a sense of shame or 
humiliation" to any recipient of such funds or any 
one else, but rather to a feeling of satisfaction and 
friendliness. Certainly if as a party measure this may 
be done, how much more desirable is it when the 
question concerns a vital principle, rising to such pro- 
portions as to affect every industry and every value in 
the land ? Conducting a canvass is an expensive mat- 
ter — a single public meeting costs money. When the 
desire is to educate States on the subject of finance and 
to hold numerous and attractive .neetings in every school 
district, attractive enough to bring out the people, it 
costs a large amount of money. Remember too that 
a public meeting to propagate sound money views is a 
very different affair from a free silver gathering. 
About all the " free-silverite " needs is an " orator "^ 
with a loud voice and free action, capable of saying 
"gold-bug," "Wall Street," " Vanderbilt," and now, 
with special emphasis, "Pierpont Morgan, the Prince 
of Gold- bugs ;" added to that, if this orator can get 
off a round lot of figures glibly that have no truth, 
but nevertheless cited as coming from a Government 
report, and tell his hearers that they prove black is 
white, he draws a crowd and fills the bill completely. 
These gatherings and speeches, in the absence of the 
truth intelligently and simply presented, have an 
inspiring effect among the class addressed, and carry 
the day." 

Under these circumstances we were of the opinion 
when we wrote, and are still of the opinion, that men 
of wealth do cot live up to their duty if they fail to help 
in every legitimate way to rid our Senate Chamber of 
those men who have destroyed business during the past 
year talking and voting for free silver and obstructing 
all sound money legislation, and who are only waiting 
now for another opportunity to begin and pursue their 
congenial work of disturbing it again. 



UTILIZING THE POWER OF NIAGARA. 

The Nineteenth Century has been distinguished by 
many wonderful inventions, discoveries and achieve- 
ments. Its closing years are now being marked by an 
achievement which will certainly not rank as the least 
among its great events — the utilization of the power 
of the Falls of Niagara. 

There is nothing novel or striking in the mere use 
of water power, which is as old as history. We may 
note as a matter of fact, though, that that form of 
power has within rectut periods given place largely 
to other forms of power — steam, &c. — which were 
found to be more ecomical, more serviceable, and 
of greater availability. But when we speak of using 
the power of Niagara, we do not have in mind an ordi- 
nary employment of water power. The scale upon 
which the work is being carried on at Niagara would 
alone place the undertaking on a tota,lly different 
plane, requiring the solution of many new and diflS- 
cult problems in hydraulics. But in addition it is con- 



JCLT 13, 18M0 



THE (CHRONICLE. 



47 



templated to convey the power long distances, and in 
thia particnlar the project has been a peculiarly daring 
one and has inrolred engineering problems which have 
attracted the attention of the whole world. 

While from a scientific and engineering standpoint 
the work possesses distinctions which stamp it as one 
of the great undertakings of the century, the event is 
no less noteworthy or important in the industrial pas- 
sibilities which it opens up. The discharge of water 
over the falls has been estimated by Government 
engineers at 275,000 cubic feet per second, giving with 
a fall of 216 feet the equivalent of 6} million horse- 
power. The figures are so large that it is difficult to 
grasp them. Consider the benefits that must (low to 
mankind if but a portion of this vast energy can be 
torned to practical uses. Oaly a few years ago it 
M«med aa if all but a very small fraction of it mast 
continue to go to waste, as it has for ages, for it appeared 
like an idle dream to think of using the power any- 
where except within a limited distance of the Fallj. 
But now Nikola Tesla, that grMteat of electricians, 
talks of placing 100,000-hor8e power on a wire and 
•ending it 450 miles in one direction to New York and 
500 miles in the other direction to Chicago. And who 
will venture to say that tbij promise will not be real- 
ized ? la truth, the promise seemi nearer realizuion 
already than the mo it sanguine dared to hope but a 
short while since. 

That power can be transmitted for long distances in 
the way proposed baa not yet actually been demon- 
•trated, and therefore can not be ooant«d among tht* 
aaaured facts. Nevertheless, the eiperiments oonn^-ed 
with the recent installation of the 5,000-horM power 
dynamo at Niagara PaIIs would appear to leave little 
room for doubt on that point Toes* experimenis 
were conducted on the 28th of Jure, and they were 
proaounced in every way an nnquaUfied suooeM. Tnc 
t*at in this case involved the transmission of power 
from the central power station on the inlet canal to th- 
works of the Pittsburg Reduction Company, manufac- 
turers of aluminum. These works are on the land of 
the Niagara Falls Power Company (which is the cor- 
porate name of the enterprise) and are 3,600 feet di«- 
tant from the power-house, which ii 'reached by an 
underground conduit for electrical transmission. The 
dynamo — said to be the largest in the world — vat built 
by the Westinghonse Company at Pittsburg, while the 
works for the transmission of the eleotricsl poirer to 
the manufacturing eatablishment were conatmcted by 
the Oeneral Electric Company. Whan the trial wns 
made the whole apparatus was foond to work in a 
faultless manner, and the Redaction Gimptny has 
been using the power ever since. The Carborundum 
Company, about one-third of a mile distant from the 
power-house, is also using power from the dynamo. 
The Westinghouie Company has the contrsot for two 
more 3,000 ho-se-powerdyaamoi, which will b) erect d 
alongside the first one on the canal that has been built 

(on tbe margin of the Niagara River. 
1 Tbe advanced stage of the woik and the success at- 
tendin;; it thus far makes very timely the number of 
Cfiiicr .« Magatinr, just issued, devoted entirely to a 
description of it. Toe story, as here told, is one of 
exceptional interest and no one can read tbe series of 
papers or articles of which it. is made up without being 
imjiresaed both with the magnitude and the daring of 
the nodertakiog. Tbe articles have been written by 
those identified with the enterpriie in various capaci- 
ties, and they give one a comprehensive idea of the 



nature and scope of the work and the great progress 
already made in bringing to completion the plans and 
ideas of the projectors. Francis Lynde Stetson, the 
First Vice-President of the Cataract Construction 
Company, furnishes a general survey and outline of the 
project, and briefly recounts some of the trials and 
difficulties which have had to be overcome, and the 
very many novel and perplexing questions and problems 
that confronted those charged with the preparation 
and execution of the plans. Prof. W. Cawthorne 
Unwin, one of the International Niagara Falls Com- 
missioners, furnishes a paper on "Mechanical Eaergy 
and Industrial Progress" ; Albert II. Porter, late 
Resident Engineer of the Cataract Company, selects 
for his theme " Some Details of the Niagara Tunnel" ; 
George B. Burbank, late Chief Engineer of the Oitaract 
Company, writes on the "Construction of the Niagara 
Tunnel, Wheel- Pit and Cmal"; Clemens Herschel, 
Consulting Hydraulic Engineer, tells of the "Niagara 
Mill Sites, Water Connections and Turbines"; Lewis 
Buckley Stillwell, Auistant Manager of the Westing- 
hoose Electric Company, describes " Electric Power 
Generation at Nisgara"; John Bogart gives a descrip- 
tion of the "Industrial Village of Echota at Niagara"; 
Col. Th. Tsfrrettini, Director of Pdblic Works, Geneva, 
Switserland, writes on " Notable European Water Power 
Installations "; S. Dana Greene, Assistant Manager of 
the General Electric Company, on the " Distribution of 
the Electric Energy from Niagara Falls," and Peter A. 
Porter, on "The Niagara Region in History." The 
whole forms a collection of articles not only of absorb- 
ing interest but exceedingly useful and instructive. 

The inception of the nndertaking may be said to 
date from the organizition of the Niagara Falls Pover 
Company in I8d(>, incorporated by act of the Legisla- 
ture of the State of New York. For three years, as Mr. 
Stetson says in his ptper. the originators of the project 
were engaged in convincing capitalists that it would be 
commercially profitable to undertake and complete the 
development of the plan proposed. The enterprise 
encountered the experience with which all novel or un- 
tried propositions have always met. There were the 
usual number of persons ready to prove that the thing 
could not be done, or that it would be of no prac^tical 
use if it could be done. Tbe plans had been prepared 
by Mr. Tbomas Evershed, who by reason of his train- 
ing and experience pos ses a e d special fitness for the task. 
Referring to the objections raised to it, Mr. Stetson 
with fine sarcasm says : " But of course the publica- 
tion of this plan invited and encountered tbe demon- 
stration of its absolute impracticability, aa well as the 
improbability of the use of the power if developed." 
Mr. I^dward Atkinson had strong doubts which found 
exprsMion in a public letter in October 188C, and 
others also gave utterance to their misgivings. 
The promoters of the scheme were not disturbed by all 
this. The practicability of the tunnel had been called 
in question, but Mr. Stetson says it was shown that the 
capa ity of the original tunnel, about 120,000 
horse power, would exceed the combined theo- 
r<tical horse power of Liwrence, Lowell, Holyoke, 
Turner's Fallr, Manchester, Windsor Locks; Bellows 
Falls and Cohoes, and would very largely exceed the 
actually developed power of all these places, and Au- 
gusta, Pitterson and Minneapolis in addition. "Con- 
sidering the further ri^ht to construct ap additional 
tunnel of 100,000 horse power on the American side, 
and to develop at least 250,000 horse power on the 
Canadian side, it was readily recognized how vastly 



48 



THE CHRONICLR 



I Vol, LXI. 



this local deyelopment promised, in extent, to surpass 
the combined water powers of almost any American 
State or section." But the question still remained 
whether water power could be furnished successfully 
in competition with steam — an important question, 
•ince in the vicinity of Buffalo good steaming coal can 
be obtained at hss than $1-50 per ton. Of course the 
promoters satisfied themselves fully on that point 
before proceeding with their venture. 

Finally in 1889 the Cataract Construction Company 
wu orgaoizfd by those interested in the Niagara Falls 
Power Company and was given the construction con- 
tract. It follows that work has been in progress for a 
period of six years. The plan comprises a surface canal, 
260 feet in width at its mouth, on the margin of the 
Niagara River, li miles above the Falls, extending in- 
wardly 1,700 feet, with'an average depth of about 13 
feet, serving water suflScient for the development of 
about 100,000 horse power. The walls of the canal are 
•f solid masonry and are pierced at intervals with ten 
inlets, guarded by gates which permit the delivery of 
water to the wheel pit in the power house at the side 
of the canal. The wheel pit is 178 feet in depth and 
is connected by a lateral tunnel with the main tunnel, 
Berving the purpose of a tail-race, 7,000 feet in length, 
with an average hydraulic slope of six feet in 1,000, 
the tunnel having a maximum height of 21 feet and 
width of 18 feet 10 inches, its net section being 386 
square feet. The tunnel was first used in January of 
last year, and in constructing it 1,000 men were con- 
tinuously engaged for three years. During the process 
of construction 300,000 tons of rock were removed 
and more than sixteen million bricks were used for 
lining the tunnel. 

Mr. Stillwell, the electical engineer, in his article 
malces the statement that no enterprise of modern 
times involving special and extraordinary engineering 
problems has been more carefully, more patiently, 
more systematically or more intelligently studied than 
has this one of the utilization of the water power at Ni 
agara. And as we read Mr, Stetson's account of the 
work we are forcibly impressed with the truth of the 
statement. Each step in the process had to be care- 
fully thought out. The experience of others in the 
same line served only as a partial help, since the 
present project was in many essential particulars totally 
different from previous similar undertakings. Take the 
matter of the turbines, for instance. Water wheels of 
considerable excellence are readily enough obtained, but 
it was not easy to find wheels suitible for the special 
requirements of the Niagara Falls Company. And 
so in securing the other contrivances necessary to 
the operation of the works many novel and untried 
problems came up. Mr. Edward D. Adams, the Presi- 
dent of the Construction Company, happily conceived 
the idea of offering a series of prizes, and an Interna- 
tional Niagara Commission, composed of leading scien- 
tists in Europe and America, was constituted for the 
purpose, with power to award 122,000 in that way. 
The first result we are told was the selection of Messrs. 
Il Faesch 4 Piccard, of Geneva, as designers of the tur- 
perbines. 

done The next step was to determine upon the mode of 
latteiiosmitting the power to be developed from the tur- 
'.T. Stetson says that in 1890 four different 
of transmission were seriously considered, 
■ manila or wire rope, by hydraulic pipes, by 
d air, and by electricity. A tour of inspection 



to study the different systems. It was finally deter- 
mined to adopt electricity as the means of transmia-ion, 
and in December 1891 the Niagara Company iavited 
competitive plans and estimates for the development of 
electrical power and of its transmission both locally 
and at Buffilo. As the result of that competition "a 
two-phase alternating generator of 5,000 horse power, 
developing about 2,000 volts, with a frequency of 25," 
was decided upon as the best practicable unit and 
method for the development of electricity for power 
purposes, and the Westinghouse Company was given 
the contract to build three dynamos of this type. 

As stated above, one of these dynamos was put up 
along the canal two weeks ago, and is now delivering 
power locally. The company will be prepared shortly 
to proceed with the construction and operation of a 
plant for the transmission of power to Buffalo, eighteen 
miles distant. How much further the power can be 
carried at a commercial profit, Mr. Stetson says, 
remains to be seen. Electrical engineers hare reached 
the opinion that the power can be delivered even at 
Albany, 330 miles distant, cheaper than it can 
be produced by triple-expansion steam engines. The 
Niagara Company will rest for the success of its under- 
taking chiefly upon the delivery of power within near 
distances, but the promoters at the same time have 
definitely determined to furnish power to distant con- 
sumers, though how distant they are not yet prepared 
to say. 

A word as to the men who have risked their money 
in the enterprise, and to whose faith and courage it 
owes its progress. They are William B. Ktnkine, 
Francis Lynde Stetson, J. Pierpont Morgan, Hamil- 
ton McK. Twombly, E-lward A. Wickes, Morris K. 
Jesup, Dirius Ogden Mills, Charles F. Clark, Edward 
D. Adams, Charles Lanier, A. J. Forbes-Leith, Walter 
Howe, John Crosby Brown, Fredrick W. Whitridge, 
William K. Vanderbilt, George S. Bowdoio, Joseph 
Larocque, Charles A. Sweet of Buffalo, and John 
Jacob Astor. These are all notable people, and Mr. 
Stetson says that most of them have served as officrs 
and directors of the Construction Company, giving 
freely of their time and experience to the conduct of 
the enterprise. Mr. Stetson also pays a well-deserved 
tribute to the zeal and ability of Mr. B. D. Adams. 
He says : "Among all these names it may seem invid- 
ious to select any for special comment, but, after the 
early and continuing interest of Mr. Morgan and Mr. 
Mills, and the later accession of Mr. Astor, it was, as 
it continues to be, a matter of congratulation to the 
Cataract Construction Company that the origination, 
the development and the guidance of its affairs have, 
from the first, received the intelligent and continuous 
attention of its President, Mr. Edward D. Adams." 



ingtoueg- 

a " 

o 
o 



>■ 
o 



PHYSICAL CONDITION OF 
RAILROADS.— III. 
At the close of the last article we were speaking of 
the value of the amount of earnings spent per mile of 
road for maintenance of way and structures as a guide 
to the investor. Every one familiar with railroad 
reports knows that the operating expenses of a com- 
pany are customarily separated into several heads, one 
of which represents the cost of " conducting transpor- 
taion," another the " maintenance of way and struc- 
tures," this being the part of earnings applied to 
repairs and renewals, another the "maintenance of 
pe was made by Mr. Stetson and Mr. Bogart ' equipment," etc. If we divide the item " maintenance 



/tTLT 13, IBM. J 



THE CHRONK^LE. 



49 



of way and stractarea" by the average naonber of 
miles of road operated during the year, we htre as a 
resalt the average sam per mile spent out of earain^^s 
to keep the road in good condition. It is an item t he 
meaning of which is easily comprehended bat which 
must be used with discrimination. 

No one can furnish the investor with a fixed 
financial measare for determining in every case the 
sufficiency or insufficiency of the expenditure of the 
amoant spent for maiotenanoe. The safest method, 
as we said last week, is to compare the am-)uat so spent 
with the amount used for the same parptse by other 
companies similarly situated as regards triiffi% country 
traversed and age and character of rotd. F >r normtl 
cases, as we shall show below, railroad ezperta have 
figured out the sum of money required to miintain a 
road ; bat one does not need to be told to keep in mind 
the conditions that cause considerable variations in 
particular instances, among which are — very many or 
very few tra'n*, very poor physical condition of prop- 
erty demanding heavy oatlajs, or very high degree} of 
excellence requiring smaller sums, exceedingly low or 
exceedingly high grades, old properties needing m'>dern 
appliances or new properties already equipped for 
economical operation and demanding but slight re- 
pairs, etc. Appreciating the exceptions which he m«y 
meet, the reader will be helped by studying the fol- 
lowing table compiled from the report of the Inter- 
State Commerce Commission for the year ending Jane 
30, 1893, a period during which railroad ezpenaea were 
still oncnrtailed by the economies sabeeqaentlj pnt in 
force. The table is as follows : 

JMnten- 

wmn and 
tttitttn* 
mrr mil*. 



mm 
1 



VmrsD BTATBs: Total 
Roam R>r>B»Bmi>. 

V. 8. Oroap t 

" II 

" III 

" IT 

" " y 

" TI "" 

- vn 

- Till...... 

- nc 

- z 



9$ mr^^mm 

r*ML 9«PinMk 



lSa.780 
7,410 
1S.X71 
tl,TS« 
lOiMl 
I7.00a 
M.979 
10.4S4 
Sl.Sli 
10.M0 
11463 



•7.1M 
11.711 
16.^40 
8.S1S 
4,151 
4,7m 
•.IAS 
4347 
•.044 
4.1 IS 
B301 



pmrm O m 

IS-4 

n-* 

17-9 
••3 

10^ 
Il-fl 

71 

•-7 

S-O 

t-o 



I.SSS 

l.l»07 

l.SIS 

M« 

7SS 

•4« 

•ss 

772 

7se 
sae 



Foot Hotb,— Th« gitmf akov* 
■UIm: 



Ormum I. 
Haw BBcUa^ ma(««. 

Or-tpJt. 
ir«w T«rli. 

!••» Jorw>7, 
Dftovar*. 

liroup ttl. 

In. II Kt «. 

r*rt f Nri^-hlrsa. 
'irimm tV, 

v,-.< virirtala, 
Nf.rM, I irnllna, 
fV'itli I arnllna. 

Keataakr. 
tn v mt m, 
riorlte. 



litaMi iMlad* the tollowtnc 
O t u m f r.—/Omn.) _ 9romp r//7. 



AlakMM. 
MiMiwIppL 

Wl n oooif, 
nil Ola. 
Iowa, 

Part of Mlehlcan, 
Do MlMoart, 
Do !To. Datnta, 
Do Ho. Dakota. 
Ormp rn. 
Moaunt. 
Wynmln*. 
Krbnwk-a. 

Part of •tarth Dakota. 
Do Soatb Dakota, 
Do Oolorado. 



Aikaacaa. 
Oklaknma, 
Iadl«o Tenilnry. 
Parti of MiMonrl. 
Do f*n)rtrado. 

T>o H^w Mf«xlrn. 

Do Toiaa 
Omup IX. 
Moat of Tot. a. 
Part of Naw Woilro. 
_ OrmtpX. 

WaaMtftM. 
Omrao, 
I<talio. 
nailforola. 

Utah 

AHaooa. 

Part of Hew Xaxira. 



Oronp III., which includes the Sates of Ohio, Indi- 
ana and part of Michigan, is 11,213, while in all the 
other groups the amount varies between $608 and 1846 
per mile. A writer* in the "Riilroad Gizette" ex- 
presses the opinion, which we woald be slow to accept 
in its entirety, th<it these sums areiaadeqiate, and that 
11,000 per mile would be more nearly correct for roads 
earning $3,000 gross per mile. Some notable excep- 
tions there have been and donbtless some still exist to 
the rule of good management, but we believe the great 
majority of American railroad managers are keenly alive 
to the necessity for supplying their roids with all mod- 
ern appliances, and that in very many instances the 
yearly outlay for maintenance is rather above than be- 
low what will be the proper average when the solid 
road-beds, hoavy rails and heavy bridges, etc., have 
been seen red. 

At the same time we recognize that never has the 
need of liberal expenditures for renewals and improve- 
ments been more pressing than it has become of late years. 
The weight of the trains run has been increased so 
enormoatly — the Evansville k Terre Iltate for 
instance carrying in the fiscal year ending June 30 1894 
no less than 287 tons of freight per train mile contrasting 
with 105 toorin 1889 — that under the heavy loads the 
road bed unless carefully preserved and strengthened 
goes rapidly to pieces. Moreover we agree perfectly with 
the writer referred to above in deprecating a " policy 
of ignoring the deterioration from year to year nntil it 
reqairea so-called extraordinary expenditures and 
betterments to again put the road into good condition." 
Mr. Wellington, recently deceased, in his standard 
book on Rtilway lyxsition, a book still highly valuable, 
though to some extent antiquated as regirds its statis- 
tic!, gives a table that we think it worth while to 
reprodnoe, notwithstanding the development that 
has taken place since the table was first published 
[1887] has, aa already said, raised somewhat 
the requirements for renewals. Mr. Wellington 
says: "The total cost of maintenance of way 
for single-track railways of moderate traffic may be 
safely estimated as follows for those items only which 
are practically independent of volame of traffic : 



The table abnve given shows the average expenditure 
in the United Sta'es per mile of road for maintenance 
of way and stractares to have been in the year named 
$9»7, bat this average is higher than it would be were 
it not for the large average of Groups I. and 11. These 
have an average of $1,669 and $1,907 respectively per 
mile, which is extraordinarily large. This is acoonnted 
for bv two facts, namely, heavy traffic, as witnessed by 
thegroweamingsof $11,711 and $16,240 per mile of 
Toad, and the large amount of doable track, which of 
course neceasitatea heavier outlays for renewals than 
•ingle tracn, though by no means double the amount. 
Excluding these two groups the average per mile for 



Croaa-llaa. 

Do for •Me-lraeka 

Labor on track 

Tmak waikloic 

Hinv and lac 

FlalU4t. ... ._ 

PoncM and ail«oellaaaniia 

Ui tUr K-> artl^ opaa ootTarta aad 
aroaalaaa 

etaal ralla 



$100 to 
in to 
ISO lo 
bn lo 
00 to 
80 to 
IS to 



e32S 
40 

too 

lt>0 

no 

100 

50 



39 to SO 



«4|5 
$100 



Per mlla of main 
tr*ek oot laolnillnt 
mlleMie of ■litlac*. 
Goaiaoii iraek labor, 
$1 sa per da/. 



$S0 to 

"To this estimate must be added certain allowances 
for maintenance of structures, for the maintenance of 
large yards and terminal facilities, and for extraordin- 
ary damages and repairs, and also for the woir of steel 
and other expenses, according to traffic. The amoant 
of necessary expenditures which can with any propriety 
be assumed to vary directly with the tonnage will be — 

9t«*l ralla, (InoliidlDf all azpeoiwa for 
rnlarlDK aplkra. elo., eonneotMl tlier»- 
with) — lo. per train mllo. 

Track labor, ato., IM cento p«r train tnlla. 

Track watcbnian \ 

Total :< cenut per train mile. 

"This amoant will vary almost exicily with the num - 
bnr of trains independent of their weight and length. 
The present rate of expenditure for rail renewrtls in 
all parts of the United States is much higher than the 
above, or about $200 per mile, but this can hardly 
continue to be permanently the case." The 3 cents a 
train mile is equivalent approximately to $11 for a 



'Joaapli O. 0*«ood, BallroMl Oaictte, W*b. 3a, 1800. 



50 



THE CHRONJCIK. 



[Vol. LXI. 



train run over the mile daily for 366 dajs (3c. x 365=— 
tlO 95), conseqaently this Yariable quantity in mainte 
njnce may be ascertained by multiplying the average 
number of trains daily per mile of road by eleven. 
It makes necessary an addition to the preceding 
table, for a road averaging twelve trains daily over its 
entire length, of $132— the total requirements for 
maintenance ranging from $612 to $1,047 on roads of 
moderate traffic, exclusive of amounts for maintenance 
of structures and terminal yards. Mr. Wellington 
was a highly conservative practical man, and much 
importance deservedly attaches to his deductions. 

In connection with the expenditure psr mile of roid 
for msinteaance, considerable light may be gained as 
to the way a property is being managed by considering 
the number of new ties and the number of tons of rails 
placed each year on an average to each mile of track. 
While the annual expenditure on account of new ties 
and rails is not usually by itself a very great item, it is 
a good indication of whether the condition of a road is 
being permitted to run down. Daring such a period 
of extreme depression as we have recently passed 
through the average outlay may properly enough be 
disregarded and a far less sum be spent, but expjrlence 
teaches that as a rule failure during a number of yeirs 
to renew ties and rails at a reasonable rate is the pre- 
cursor of fiaancial collapse. The number of ties to 
the mile varies from 3,464 to 3,000. The average life 
of a tie is generally estimated at eight years, so that 
one-eighth the entire number, 300 or 400, costing from 
35 to 50 cents each, should be replaced yearly in each 
mile of track — that is after a road has been long enough 
in operation to require renewals. IE less than 250 per 
mile are laid for several years in successioa by any but 
a new road, there is good reason to suspact a negleot of 
proper maintenance. 

Steel rails are assumed by the engineer who exam. 
ined the Atchison system recently to have a life on 
heavy traffic lines of 15 years and on light traffic lines 
of 25 years, an average life of about 20 yoais. Tbe 
New York Ceaiml reports the average life of its rails 
at 12 to 20 years. Of rails weighing 70 pounds to the 
yard 110 tons* are required for each mile of road, 
hence at least 1-20 of this amount, or about 55 to is, 
must on the average be renewed each year. Most new 
roads may indeed be safely operated for a long time 
with small expenditures on account of rails, but then 
the renewals become all the heavier later on, either 
swelling operating expenses or resulting, impoperly 
we think, in new security issues — unless the conserva- 
tive method of establishing a depreciation fund has 
been followed. In any case, however, therd is an ad- 
vantige in knowing what amount of rails is being 
Lid and whether tbe new rails are- being charged in 
whole or in part to the cost of operating. 

At some other time we hope to show what various 
companies have been spending on their properties by 
way of renewals, and to point out in the case of cert-tin 
companies that become embarrassed in what respects 
their reports had previously indicated approichiog 
disas'er. 



' ^«ume of our readerH may fliiil It iweful to have In mind the fact 
known to everr railroad enitlneur. that If we divide the weight of the 
rail |«er yard (in tlie above ca»f 70) l>y 7 and luullliily the iirodiict liv 
11 we obtain at onee the total number of tons required to liiv a mile of 
road. ThU simple ratio l« d.Thu«l hy umltlplvinK x, the weUht of the 
ran per yanl. by 1,700. the number of yards to the mile, and then by 2 
to K<-t tbe number of inninds for a road with two rails. We then divide 
the renult by ^,240. tlie numlier of imunds to the ton, and .so obtain the 
BunilMr of tons to the mile expiessed as 



RAILROAD GROSS EARNINGS FOR JUNE 
AND THE HALF-YEAR. 

In reviewing the gross earnings of United States 
railroads for the half-year ending June 30, the fact 
which stands out prominently is that on the whole it 
was a period of better results than the corresponding 
six months of last year. At the same time the cir- 
cumstance that the gain in earnings is comparatively 
small, after a tremendous loss last year, is evidence 
that the improvement has been by no means general and 
that the conditions have not all been favorable. In 
truth many of the conditions have been decidedly ad- 
verse, and according as any particular road or section 
has been subject in small part or in large part to their 
influence have the returns of earnings been satisfactory 
or the reverse. 

Our statement is compiled within twelve days after 
the close of the half-year, and therefore the exhibit is 
necessarily somewhat iucomplete. We have returns 
for the full half-year from 126 roads, operating a little 
over 100,000 miles — 101,473 miles. Oa these roads 
the net gain in gross earnings for the six months has 
been $7,100,663. As in other years, we have brought 
together in a separate table the roads which have as yet 
furnished returns only for the five months to May 31. 
There are 63 of these, with a mileage of 45,469 miles, 
and it will take from four to six weeks for the figures 
for the month of June to complete the half-year to 
come in for such roads. For the five months these 
roads show a gain i a earnings of $5,131,873. Alto- 
gether therefore we have returns for either the five or 
the six months from 189 roads operating 146,942 miles, 
and the aggrega'e gain in gross receipts on this mileage 
is $12,232,536, or 3-23 per cent. The combined results 
are shown in the following table : 





Oross Earning, 


Mila of Road 
End of Period. 




1895. 


1894. 


Increase. 


1898. 


1894. 


120 roads 6 months.... 
63 roads 5 months.... 


236,553,676 
156.061.461 


t 

229.463,013 
149.932.588 


t 

7,100,663 
6,131,873 


101,473 
45.469 


101,387 
45.400 


Grand tot. (189r'ds). 


391.618,137 


379.385.601 


12,23«,.M« 


146.942 


146,787 



176 



11 



- X, whiob is equal to — z 
112 7 



The foregoing deserves to be contrasted with the 
exhibit for the corresponding period last year. In 
September last we estimate J the loss in gross earnings 
by United S:ate8 railroads for the firs; six months 
of 1894 at 100 million dollars. But for our present 
purpose a better basis of comparison will be with 
the statement published by us on July 14 1894, 
and prepared in the same way as the figures in 
the above statement — that is, embracing the earnings 
for some roads for only five months. Toe statement 
then covered 148,772 miles of road, and showed a 1 'ss 
in gross earnings of $74,506,653. Hence we may sum 
up by saying that on the roads making regular reports 
and embracing about 85 per cent of the entire mileage 
of the country, there has been a recovery of 12^ million 
dollars in 1895, after a loss in 1894 of 74| million 
dollars. 

Last year all the leading coaditions were unfavor- 
able, and the railroads had to contend with a cim ioa- 
tion of adverse influences, factors, agencies and events 
without a parallel in their history. Easiness was still 
saffering from the effects of the 1893 panic, and the 
depression was intensified by the continued uncertainty 
regarding tariff legislation, by the large gold exports, 
by the apprehensions regarding the condition of the 
United States Treasury and its ability to maintain gold 



JULT 13, 1895.1 



THE CHRONICLE. 



51 



pajmeoU, and by the Urge deficiency in GoTernment 
reTennes. Then also there was the great strike 
of the bitaminoaa coal miners lasting from April 21 to 
Jane IStb, which not only cut off the shipments of 
coal, bat brought the iron trade almost to a standstill, 
and compelled rarions other manafactnring establish- 
ments to close up for the lack of fnel. In those six 
months too the strike cf the employees of the Great 
Northern occurred, and we likewise had the Coxey 
trooblrs. The half year closed with the general strike 
of railway employees inangnrated by the American 
Railway Union in fall blast. There were also great 
floods, both here in the East and on the Pacific 
Coast. 

As compared with this very exceptional state of things 
last year, the situation the prptent year of coarse was 
greatly improved. And yet, as already said, there 
were many anfkToralle factors, thus preventing the 
recovrry of any but a small portion of last year's very 
heavy failing off in eamiogs- The crop shortage of 
la«t season was a very serious advene factor. It oper- 
ated to diminish the grain traffic of the roads for one 
thing, and it curtailed the pnrchaaing and cooiamini; 
capacity of large sections of the population. In rpec 
ial districts the crop failure was so complete that the 
people found themsebes in a destitute conditio?, and 
bad to have assistance. 

Intheeaily part of the year all business interests 
were de«ply disturbed by the critical state of the 
United States Treaeary and the poaiibility that aa a 
result the Gsveroment might be forced to suspend 
gold payments. This trouble was overcome by the 
contract with the Belmont- Morgan Syndicate, bat bus 
ineas recovery made only slow progress for some time 
tbereftfter, and it was not until the last two month*, 
when it was seen how completely the Syndicate arrange- 
ment had fulfilled the requirement*, that the revival 
developed strength. Then, however, batinws became 
very active, maoufacturiog establishmenta started np 
all over the C3uc try, advances in wages were announced 
from all sections and in all industries, aid the iron in 
dnitry particalarly experienced a boom- 

The severe winter was also qatte a drawback to the 
railroad*. We had ablizzird here in the Etst in Feb- 
rnary. blockading the railroad lines and seiionsly inter- 
rupting transportation work for a number of days, 
while in the West scow and severe weaf^er ger en lly 
were likewise distiirbiig facton. The cold extended 
over large area', and involved sectioos of the country 
nsually exempt from that kind of it fluences. The 
South wssviiitcd by extremely cold weather several 
timee, and in Florida frosts occurre^l which did great 
dsmage to the orange crop. Some of the roads have 
suffered very heavy losses in earnings as the result of 
the diminution in the shipments of oraogea. The 
cotton movement was in excesa of tbat for 1894, but 
planters realized such a low price for the greater part 
of the crop that they were left in poor circumstancef, 
and were not in poaition to purchase supplies freely- 
One effect was to curtail the use, and consequently the 
shipiMBts, cf fertilizen. 

i: t Iroad rates were pretty badly demoralized at dif- 
ferent times in various parts of the country. Whether 
the situation ss a whole in this ne pect was any worse 
than :t was in the same pericd of last year it is diffi- 
call t> say. On the east-and-west trunk lines between 
Chicago and the seaboard things certainly got into a 
pretty bad state, and a number of attempts were made 
to check the demoralization. Fina'ly, towards the 



close of the half-year the trunk-line presidents took 
action (spurred on, it is believed, by Mr. J. Pierpont 
Morgan) which it is thought will prove effective. In 
the South there wss a dispute between the Seaboard 
Air Line and the Southern Railway which led to a 
sharp redaction in passenger rates to Atlanta and other 
points. The difficulty was adjusted before the close 
of the half-year. 

There were no great or general labor troubles like 
those of last year, but there were some minor distur- 
bances: for instance, the Norfolk & Western, which al- 
most alone was not involved in the miners' strike of 
the previous year, had a strike of its own the present 
year. Some of the Ohio roads also had difficulties witb 
the miner;. 

We have spoken of the contraction in the grain 
movement. At the Atlantic seaboard the receipts of 
grain from January 1 to June 29 were only 54,010,773 
bushels in 1895 against 65,958,766 bushels in 1894, 
86,599,043 bushels in 1893 and 141,307,007 bushels in 
189'i ; and there was besides a falling off in the ship- 
ments of flour. At the Western primary markets the re- 
ceipts of whea', corn, oats, barley and rye for the same 
period were i^34, 908,781 bushels in 1895 sgainet 177,- 
•'>87,I94 bushels in 1894 — a losi of nearly 43 million 
bushels. We show the latter movement in detail in 
the following. 

■■CBtna or ru>ita ajid aau> roa vou* wasai aaoiMo jon M 
AMD uncm lutVkmx 1. 



Ifj u i m »- 

• vta. Jana^ M.. 
« vU.JaM.iaN 

■UBmJi*n.mk 
'tiaMjM.l.UM 



«aMJ*a. t.1 
4iaMj«a.l.l 



• >t>. Jasai UM 
4im»Jm.I.|S» 
«ioMjaa.t.BM 






ii/li 



• wb. lutf. MM 

XIM*Ju.t.lB 

MaMJw.t.lSl 




KammsCUt- 
< vU. Jiu*.lM 



< irk«LjnM,UM 
JMMJM.LMSS 
«M»Ju.l.iaN 




SSS& I (ESSb SA 



Wl.tTT 
t.lM,70l 

TH.1** 

laoii 
"'JHi\ 

"MM 



SHi.ni i.«ct.M4 ijg»t,im 

MT.taM ».i(M,»i; i.*i«.»i 

t.<n»Ma ti.ii>.«iR in.en.tn 






awi.»4 



•:•>{{ LSMiTv s;>».n5 
ao^iii: MMiMfi vtjmjm* 



asMi 

J.TM 
M.WI 
4CMI 



IMMI 
I.SM.ITv 

iMvmali unjioo 

»rr.:w' M,oo» 

1,'M.lllu t.a.i.M> 



iit.«asi R«,eoo 

•7.T*u l.«0)LMl> 
WMM{ l,t]M>.l>0» 
S1T,II*U 1,101,000 

»a,au MI.MM 

»,M»>I6 

«.nS,40» 



UOOO' T0,7«* Tf.W 

ll.lOt I !».»«• Si.fS 

TLtt 9*iMt lM7.»m 

7*,»H IS MM niM- 



,1 



IM.IM 



n£i**' 



mm 






a2».*; 

MtMtS 
lSIC««o 






Sit 

«r.ron 

•«i.<ka 

aua,iro 



tU0» 
iiTJm 



M.SIV 



t.l««X7» 

T*4» 

10,1 < I 

I79jn 



S,0tt.CV7 



4.IS0 

S0XIU 



IOS.MS 

ioo.Me 

l<«.iM« 
U4.via 

»JI.7V« 

rso.ii 

I.IMSOO 

».on,MB 
(I.M1,MW 

ISO.IW 
•.US 



iM.n» 



•a JIM 
si.eM> 



|l,>'»UMI 
T.MI/>7 

I'.tti I"* 

tt,l«8MI 



cKSB (fiSL) 



Itl.Mn 
117.IM' 

laoool 
tajwi 

IftSTol 
.f...... 

M>,taO| 

>;S0o{ 



10.' »! 

I,1.H> 

!»>.««*, 

tOi.lH 

•.DM 
IO«.aM 

itr.rw 

ia<Ko 
«.too 

»«.000 
5l(L00ll 



71,086 

aei^tss 

U.80S 

»IS,T«> 

s.eoo 

MM 
SI.MO 
S6,T0S 



1,(7 i 



Ma,7«S 

Ms.SI> 

a,o«a.w« 
vjtai.aor 



l.t««,780 



It will be observed from the foregoing that the fall- 
ing off haa been quite general, but that a considerable 
portion of the whole occurred at Ghicsgo. In the sub- 
joined stafoment we give the receipts at Gnicago for. 
the even half-year, and it will be noted that the aggre- 
gate for the six months in 1895 stands at only 60,808,- 
SGi busheli, against 82,972,481 buihtU i-i 1894 
and 89,584,198 bushels in 1893. The same table also 
shows the grain receipts for June and likewise the 
proMiions movement at the same point for the month 
and half-year. 



62 



THE CHRONICLE. 



[Vol. LXI 



taonim at ouioaoo ddbmo joni amd simoi jahdabt I. 



WkMU-bsah. 
Oira...k«<b. 
(HU.baah. 
B]t«.. .bub. 
■wtar.buh. 

Total fTaln 
f)e«r..bbli 
nrt..-bl>i< 
OUm'U.lt)*. 

L*M Ibi. 

Ure boKvNo 



•Tom. 



18M. 



lot.rai 
4.UI.T«7 

T4.0H 




ll.lHt.»T« 

lao.oar 

l.VII 
».«II1.3«4 



ll.S«<.l<8 

Me 

lS,ttS,S5S 
r,<H0,6M 



I8S3. 



l.Mfl.OJI 
I0.S3«,S;9 

«,M1 
<7«,0«» 



Sl.SAl.iST 

80S.03S 

546 

ii,sao,s(i 

6.4&0.ailO 
S1A.14H 



atnc* Janwtm 1. 



18M. 



18IX. 

s.sts.sis 5,0fld.»:'' 

23,10a.»7« SS.llT.SBt 

30.!OS,)!78 S3,3&3.9a5 

771.U8 aSi.189 

4,103,938 4,IS»,B6(I 

80,908.8M 83,978, tfl 



l,403.1U 

5.8:i 

81.»>l>,i83 

28,882.809 

4,09^98« 



2,J68.70S 

s,in 

«S.8il,898 

87.S18.38B 

8,7»6.II03 



1M>8. 

VJ.-22Z.7itl 

J9.»2».«7» 

»4..'W).343 

728.075 

&,.S23,1&3 



89.^94.198 

2,416,780 

2,618 

(V0..167,6»0 

I»,228.2a5 

2.700.794 



It deserves to be pointed out that the graiu move- 
ment over the different roads entering Chicago varied 
a great deal — that not all shared in the falling off, 
some actually having delivered more grain than in the 
preceding year. In the Middle Western States — more 
particularly Ohio, Indiana and Illinois — the crops hst 
year had been quite fair. Hence the roads traversing 
this section pretty generally are able to report enlarged 
receipts. On the other hand, in the Northwest and 
the Southwest the crop failure was quite pronounced 
and the roads into those sections clearly reflect the 
effects of that f lilnre. The distinction appears very 
clearly in the following table, which we have made up 
from th^ figures given by the Chicago correspondent of 
the "Evening Post" of this city. 

DKUTKBIBS OF FLODB ASD OB AIN AT CBICAOO, JAITUABT 1 TO JUNE 30. 



-Orain.- 



-Ftmir.- 





1895. 


1894. 


189.1, 


1894. 




Jiii»h. 


Bush. 


Bblt. 


Bbts. 


ChlOMO * North W'n.. 


6.337,000 


19,260.000 


388,630 


401,176 


ratnolR Central 


13,75)0,<OO 


10,038,000 


6,^97 


13,990 


Cblc. BcHk IB. A P«c)8< 


5,:ilS,0<0 


9,<'78,0i0 


218,675 


334,798 


Cbte. Burl. A Qnlncy.. 


10,412.000 


16,385,000 


98,213 


247,294 


ChleairoA Alt4>n 


<,fll 2,000 


3.184,000 


4,500 


36,1.56 


Obiea«io A E IIUdoU.. 


2,903.roo 


1,181,000 


9,150 


8,800 


Oblc.MU.d2 St. Paul.. 


5 80^,000 


12,062,000 


512,-250 


935,950 


■Watiaiih 


4.007,000 


3,359.000 


45,580 


20,027 


Chio Great We(it«"m . . 


2.3G-,000 


2,931,000 


25,477 


457,305 


Al«li. Top A Banta Fe 
lAulaT. N. Alb. * Chlo 


2,>(43,000 


3,454,000 


150 


955 


346.000 
59,035,000 


173,(JO0 
81,905,000 


133 


.... 


Total 


1,309,264 


2.106,411 



Thus we see that the receipts by the Chicago & 
North Western were only G,337,000 bushels in 1895 
against 19,260,000 bushels in 1894, and that the Kock 
Island, the Burlington & . Qaincy, the St. Paul, the 
Chicago Great Western and the Atchison also have 
sustained considerable losses, but that the Illinois Cen- 
tral on the other hand made deliveries of 13,790,000 
bushels, against 10,038,000 bushels, and that the Chi- 
cago & Alton, the Chicago & Eastern Illinois, the 
Wabash and the Louisville New Albany & Chicago 
likewise brought in increased amounts. 

With reference to the provisions and live-stock move- 
ment at the same point it will be noticed from the 
table further above that the receipts of hogs were 
4,096,986 head in 1895 against only 3,T65,G02 head 
in 1894. The live-stock movement as a whole, how- 
ever, was less than a year ago, the deliveries having 
aggregated only 128,289 car-loads against 143,697 car- 
loads. Several of the roads which suffered most 
from the falling off in the grain movement likewise 
sastained heavy losses in their live-stock tonnage, as 
will appear from the following, also taken from the 
"Evening Post." 

DKUTKRIM or LITB STOCK AT CnCCAOO, JAStTABT 1 TO JDKB 30. 



I'SO.I. 

Cars, 
Ateh. Tntvka A SanU re.. 5,S'25 

Obloago A Alton. 8,535 

Chip. HurltnKtouA Qiilncy. 28,843 
Chloaco A E latprn liiluula . 3,021 

Chlo. Mil. & ht. PhiiI l:<,871 

Cbicaito A Niirth Wr»iprn.. 22.65S 
Chic Kock IkI. & Pai'ltlo ... 18,671 

CnlOi<Ko (treat Weatero 8,571 

Illlnnia (.'entral 12,5i)2 

Wabiinb 7,«72 

Wlsoannln CeotnU 720 

Otber roads 2,810 



1894. 

Oars. 
«,151 
8,705 

33,578 
2,155 

21,402 

28,954 

16,2;i3 
3,963 

12,515 
6,826 
1.275 
1,880 



1893. 
Can. 

5,042 

1 2,077 

27,171 

2,131 

18,^07 

25,833 

13,698 

3,3.iO 

9,.548 

9,795 

821 

2,052 



1892. 
Cars. 

6,713 

9,259 
35.39S 

2,003 
22,430 
32,4.53 
17,9S4 

5,184 
14.14S 

6,843 
6.''9 

1,886 



As regards the cotton movement in the South, which, 
as already said, was considerably in excess of a year 
ago, the receipts at the Southern outports were, roughly, 
2i million bales in the six months of 1895, against only 
1} million bales in the six months of 1894. The gross 
shipments overland in the same period were 694,757 
bales, against 473,738 bales. 

RBCErPTS OF COTTON AT SODTHERN PORTS IN jnNB, AKD FBOU JAITO 
AHY 1 TO JU.NE 30, IN 1895, 1894 AND 1893. 



OalTeiton t>ales. 

Ve'aaco, 4c 

NawOrlesiu 

Uoblle 

riorlda 

SaTannah 

BraiiHwick. Ac » 

Oharleston 

Port Koyal, Ac 

Wllminirton 

Waahtnxton, Ao 

Norfolk 

Weat Point, Ac. 



ToUl. 



June, 



1896. 



2,855 

4S7 

11,971 

2,281 
22 

8,474 

1,075 
888 

8,677 
178 

3,241 

1,712 



1894. 



4,898 

2,441 

25,114 

805 

20S 

16.896 

919 

669 

2,444 



2,188 
2,618 



1893. 



6,S1« 
8,471 

84.811 

1,327 

101 

16,111 



3,378 
S27 



8,249 
8,2«6 



Stnce Jantiary 1. 



1896. 



48a,<e3 

29,-OS 
914,313 

73,747 

9,048 

254.983 

47,651 
114.497 

81.828 

83,792 

12(1 

119,237 

97,135 



88,7841 f8,881 78,357 2,242,228 1.508.592 1,230,422 



1894. 1893. 

194.852 

14994 
698.087 

61,4 '8 

11.602 
227,405 

47,6(>3 

69,129 

87,657 

29,978 
68 
1»1.«7 

94,219 



224,899 

22.022 

586,046 

30,595 

7,08t 

186,611 

12,707 

43,945 

IDS 

19,994 

1T7 

93,499 

89.043 



lotal cart 128,289 . 113,697 139[925 



154,960 



In 1894 onr monthly returns of earnings showed a 
worse result with each succeeding month, c ilminating 
with a loss of 21*48 per cent in June. The present 
year the showing has been just the reverse of this, and 
the comparisons have been growing steadily better, 
though the improvement has been small alongside of 
last year's losses. In the first three months the changes 
were comparatively trifling, in April there was a gaia 
of 4-65 per cent, in May a gain of 6'38 per cent, while 
now for June we have an increase of 12,843,513, or 8-39 
per cent. 





MtUaot. 


BorrUnipi. 




Perioi. 








Inc. orDec. P. C. 


1895. 


1894. 


1896. 


1894. 




AfilM. 


MiUt. 


t 


» 


t 


Januarr (132 roads) 


101,054 


100,739 


89,871,074 


36,897,298 


-25,618 0-07 


Febr'arj (131 roads) 


100,620 


100,519 


33,303,022 


34.021,3flt< 


-718.346 2-11 


Maicb (132 roads).. 


101,781 


100,706 


89,840,004 


38,995,107 


-(-244,897 0-6S 


AprU (125 roads).... 


99,480 


99,355 


8e,8»8,866 


S5,859,S81 


-|-1,«S9.344 4-86 


May (132 roads) 


100,273 


100,178 


39,391,43 J 


37,030,026 


4-2,861,407 8-3S 


June (186 roads) . . . 


98,726 


98,140 


37,196,279 


34,851,786'-(-2,843,6I8' 8-29 



We have alluded above to the fact that in 1895 there 
has been an increase of only 12 J million dollars for the 
half-year, after a loss in 1894 of 74^ million dollars. 
The following carries the comparisons a few years 
farther back ; the table is given in our usual form, so 
as to show both the latest month and the year to date- 





Milm«<'. 


Bamings, 


Increase 




Tear 


Pear 


Tear 


r«or 


or 
Decre.se, 




Biven. 


Precedtng, 


Oiven. 


PrectMng 


June, 


MUet. 


Maes. 


* 


* 


t 


1891 (133 roads) 


85,734 


8),215 


85,647,157 


33,916,218 


Inc, 1.730.939 


1892 <13S roads) 


93,398 


91,405 


48,739,185 


39,7S.'<,121 


Inc. 2.956.364 


1888 !143 roads) 


98,010 


98,028 


45,213,566 


42,981.427 


Inc, 2.2i8,129 


1894 (133 roads) 


95,404 


94,292 


33,099,864 


4:,166,791 


De , P.0B''.n27 


1895 (12G roads) 


98,736 


(■8,640 


37,195,279 


34,351,706 


Inc. 2.843.513 


Jan. 1 to June 30. 












1891 (138 roads) 


8M57 


85.943 


82^,646,601 


213,971,775 


Inc. 8,674,886 


1892. 139 roads).... 


96,916 


94.354 


^63.979,866 


215.344,841 


rnc .18.631,485 


1892 1143 loads) 


1*0,894 


98,908 


280,290,131 


268.11.5.101' 


Inc. 12,146,022 


1894 (200 roads) 


1)8,772 


117,146 


376,898.923 


461.106.676 


Dm .74.506.653 


1895 1 189 roads) 


146,948 


116,787 


301,618.137 


370,886.601 


Inc .12,232,638 



The absence of a general coal strike like that of last 
year and the revival of industrial activity have led to 
a great increase in the coal shipments in the mining 
and manufacturing districts. The Pennsylvania is the 
largest coal carrier in the country, and last year its 
coal shipments in the six months had fallen off 3,727,. 
606 tons. The present year the coal and coke ship, 
ments over the system are reported by the Pniladelphia 
"Ledger" at 10,844,973 tons, agiinst only 6,582,730 
tons in 1894, an increase of over 4i million tons, and 
making the total larger even than in 1893. 

Generally speaking the roads in the manufacturing 

districts have the best returns, and those running 

I through the grain districts which suffered most from 



JULT 13. 1895. J 



THE CHRONICLE. 



53 



the crop failure the poorest. lo view of the falling oti 
in both the grain and lire-stock traffic, it is no surprise 
to find that the R)ok Island has fallen $1,261,124 be- 
hind in its earbings for the six months and the St. 
Paul #1,138,018 behind, while for the five months the 
Burlington & Quiacy has lost $1,287,333, the Chicago 
& Northwestern $951,171, the Omaha $515,570, &c. 
But the large gains greatly oatnamb«r the losses. The 
Pennsylvania leads with an insrf ase of $3,813,Co-l for 
the five months (last year the road had a loss for this 
period of $9,474,871), and the Reading for the same 
period has $1,851,848 increase, while for the fall half- 
year the Great Northern has $1,270,639 increase, the 
Missouri Kansas & Texas $1,041,774 increase, the New 
York Central $793,577 increase, &c. The following is 
a fall list of all change* above $100,000 in amount. 

rBUicirjkL cRAaoM n SBOsa BAKsnios ro> « nONTH!l. 

■ ■irr«ma*o. 

:'<>.R39 L&keSb ±Ulrb. So... fUO.OTil 

1I.T74 Mrxtou) RaUwsT .... 13(>,2&« 

■:<3.J77 nev I,. r * «'.->' ... 11^.113 

71tl.44S Cblv. p. It. 1U9.>'4'4 



(it. 

Mu 
s- 


Not 
Kau 


he 


rn ( ; r'!- . . 
. .V 1. la- . 


, 






Otd*.) 


l:.t. : '. ■■ <■ N 


fc-. 


J,- 




■•■:•. 



703.103 jCol. Su 



6W.780 
6M.0M 
46«.»M 
•30.787 
S9»,»43 
9»JU* 
318.970 
SI9>4H 
n3.077 



-■■♦ 
17 



Ur Ra(Hk« 



>'k. 



Total irepre*«Btliut 

39 r--- '-■ • 

Cblr. l: 

r'bl«.Mi. .. 

Caa.ilUn Pui'c 

Nurfulk A Wct-ro ... 
■■ ■ •• FLU. A Mrin.. 

tUr. I»l 

kSt^Ur 



10«.4-S 
109.0ltt 



Ml 
.. '-.'US 
&7'<,3'.>'< 

Air.'.\n-; 

I7'.',094 
141.0W4 

•?-,n85 

. u99 



Tdui (raprvMDtlac 
10nM<t«» M.SM.MS 



ruxcirAL CHtsoM i» eBOsa KAUinra* wo* • ■oxthn. 



Iacr*a*«a. 

il. 



PaniMTlTaaU (.< rd*.)' SS.SIS^M 
Ph * R aiL >oa C. ■ ----- 



l,«.M,94t» 

N. r. L.K.AW 716.0M 

Ball. * (>btu ri til* ) ... 5M.706 

BonttMni Pvc (S rd*.).. 490,908 

5 rtaarBlValnl aoo.Ttt 

(Vatralet N«« Jmvm. l63>St 

V' tloaalaiaraMlouL 1»*>7X 

» tobbwg 1M,430 

i'.n Aak* Aru. Pms. 184,041 

N Y. aa*4.*WMt..... 18I.0U 

AUrchaay Vaitor 107.291 



iarr««a«'*. 



r«orl> A KMlen. 

Total IroMMODtloc 
SSimIm... 
•i 
CU«. BnL * Oolaor. . 
CfelaAMor. wSivrB.. 
OalM rooM* la fdo.).. 
aUai8I.P ILAoa.. 
Jaok. TWO. A K»f W.. 
Onfoa tmptart'l Co.. 



$144,403 



•0,0M.23a 

•1.387.383 
952,171 
•76H,7ll 
6U.a70 
M»,199 
303.723 



Tout (roprMaaUBc 
llnMHb) 03.9X3,788 

* PUmioa lor 8oar aootka to AprtI SOi 

• Baretanoa BMtMB llaaa U or oaoad f3.4a4,0«3 aad «■ WaotMn 
Umo 31,3^.073. 

As regards the exhibit for Jane, we baro already 
■Uted that the gain is $2,843,513, or 8-28perooBt. This 
is the more noteworthy aa the month in 1895 had an 
txtra Sunday and therefore contained one leoa batine<s 
day. Still comparison is with a month in 1894 which 
had shown no leas than $9,056,927 loos or 21-48 per 
cont. There is a very extensivo list of largo gains, 
th* Atchison reporting $421,376 increase, the Grent 
Korthem $362,684, the Hiuouri Kansas & Texas $247, 
418, the Northern Pacific iSOe.esi, etc The list of 
decfoasea exceeding $30,000 in amount comprises sim- 
ply tbo Norfolk ft Western with $282,956, the St. 
FmI with $120,078, tho Rock Island with $90,376 
the Ontario A Weotem with $69,373, and the Fort 
Boott & Memphis with $56,602. 




raiaoirii. cniAjioaa la 4ill08S aAasiaao t!i jvnw. 



LTop. *8 P*(3nla) 
kMrtbom (3 r>U.) .. 

. * r»tao 

^ _ J PmUo 

|T. Coatnl ^ 



CenirtI 

I. Chi« a flt. L.. 
- * Piiu .... 

rAfaMDIlaoio !'.! 
'*ar * Rtn Oraad* . 

.* W».t I I r.|. ■ 
3^ t* M 4<ii|rh m- .r.-r 
i g« — J» ««» * • >tlio. , 

giMiIha PaciSo ...... 

W te ' i a ol aOaatral-. ... 

W b i rt fa t *!,«>» Krto.. 
Ofaad rrnok 

Pot UifM w««k* aal/. 



3431.376 
3«3.««4 
S4',«34 
3ue.8St 
I99,90« 
171, OM 
183,091 
199, 4M 
194434 
133.799 
103.07J 
lO-i.TcMJ 



CkM. Ohio * So-waatra 
fatAOt. ffortbern ... 

Xrzioaa Cotilral 

Wa«». !«. V. APaon.*... 

8uuUi<-ni lUJIwajr 

Toledo * Oulo caatral. 



343.943 
4U,tiO 
41,7u8 
41.6i>0 
41.033 
33,037 



57,117 
4S.893 
43.-)9S 
43,784 



Toul (reptaoaatlD* 

31roa4a) $3,053,48% 

Barraaaaa. 

Korfnlk* Waataro. ... 3Z«ti.9)6 

'111- Mil. * St. Paul... 12O.07S 

I. * Paa. ..... i>0.37a 

It. a WeaMre... 8U.37J 
Ft. 8. A Mam... 5U.«aj 



4 Total 



al Bta p oooa a 
roadai. 



Mas 



3019,383 



In tbe South the cotton movement during the month 
was smaller than in 1894, and <^aice a numb jr of the 
roads in that section are obliged to report losses in 
earnings, the Louisville & Nashville and the Georgia 
among others, besides the Norfolk & Western, which 
continues to suffer from the strike of its coal miners. 





aAaaiROo or oodthkbs obodp. 






JWM. 


1W5. 


1804. 


1803. 


1802. 


1801. 


1890. 




* 


( 


t 


t 


1 


s 


Chaa.aohio 


777.140 


008,301 


840.&» 


iBa,i8s 


M80.8U 


ao6,ou 


Kui.C.Maai.aBlr. 


a 70,000 


aOT.787 


78.796 


78.080 


8t.ses 


78,MS 


Loam. A NuhT. 


l.&S4.5a0 


1.044.800 


1.7IS.84J 


1.7U.10T 


1,U04«8 


M8UM 


MamptiuaChar.. 


•SMOO 


00,084 


00,000 


101.0a^ 


lO^OM 


uajsT 


MobllaAOhlo... 


*s&.er7 


Ma^ato 


*sa,74B 


848,00» 


tMI.004 


uajKa 


N->ta.Cbt.a8CI... 


eSSOkOSB 


s6a.taB 


aauofe 


400J8I 


808.000 


«»j» 


KoifOlfca WaalA 


MTMl 


1840.8X1 


SOOJOt 


181J.18 


700,707 


000,014 


SoBlbaraR'war.. 


i.»i.a;4 


lAo^aoi 


t.S8U87 


1.43M0O 


l,M»,Slt 




Total 


4.01 4.m 


0.08^710 


».»3.l»- 


5.5S2.170 


S.101,411 





a riouraa bare fur 18m an<l 1804 ara •implT the t<>(*l> u( tbe aarnloas (or tb a 
f'jiir waaka or tbe moatli as r«|iort«l In tbe waekljr roturu ; tba montb'i «am- 
ininimiailT inn *"" «*«klr eximata* qaliaooaaldarablr. 

6 InaladiaaSatota Vallar A -Naw MntUnd aad Saaoaaduab Valley for all tho 
raafiL 

c H a aiaa tot aieatli not rvmrlad : taken ausa a« Uat rear. 

• rwaraa tar tourth weak xuA raportail : taken saaa ae lut jaar. 

t Deae itw ladada tae MUubethluwo Lexlontaa A BIc Seadf ruad In thu aad 
preeadiasraara. 

t ruorai are aopcoilmala, aame at (ortbl* fear ; actaal eerninx* were larcer 

In the Southwest we have large amounts of gain by 
most of the roidr, but los>es by a few companies like 
the Texas & Pacific, the Kansis City Fort Scott & 
Memphis an^the St. Joseph & Grand Island. Both 
the Missonri Kansas & Texas and the St. Louis South- 
western show larger earnings than in any preceding 
year. 

aAajrnioo or ootrrHwarraa!) OB'icr. 



J>tmt. 


tost. 


1804. 

« 

4040.T70 
47t.8M 
000,U« 

a 087,048 
011,818 

UOOOJtO 

01,870 

0811^087 

4II.0U 


1889. 


1800. 


1801. 


1800. 


A.T.a8.r.4 

c>aa.a Rio Of 
InLAUL no. 

Mo.K.aTax. 
Mo^P.air.Mt. 
8t.JaoiMir.L 
Ocl>0oath«. 
raaaoAPaa. 


1 

t.000,140 

073.000 
041,071 

0871.044 
008.0W 

1.874,000 
481080 
OOf^lOO 
»«kO*l 

1004^J 


s 
t4.«ae,48» 

747,108 
M8.I8S 

niAU 
8ti,8n 

1.0001UO 

•7.488 

S4L800 

41^007 


s 

8,788044 

ni^8»4 

•00.870 
UOLtU 
77(l,01l> 

t,tmjm 

08S,0U 

418,000 


• 

M00.4M 

714.108 
•00,07* 
081.004 
787,480 
U800,088 
OSjNO 
•78,040 
I88ji8 


( 
0,110,008 
750,088 
077.788 
400,100 
04^ST8 

MI^OOl 
080,008 

407,100 


TolaL 


4.110.481 


8.iao,4eJ 


8^00,001 


8,r*oo 





* laeiadae tbe Ka 



*!iVS£Kjs:»»s-a.d 

<ioraii>oaf laoaoaMwr 



Citr CUnioo a Spctaaaatd and tbe Cairent River for 

1184 ara *mt»t tbe tmaU of tbo aamint* (or Iha 
" woafeir reiarn ; tbe montb'i eara- 

f or wbleb rear wa 



fiiar aa*oa» tao ■ joo b •■ raoortad la thaw* . 
laaa aeaaaTaanaO taa aaa ki r ijiIboIh qalta oiiaalderablr. 
I OdMoOaWCeS d a d ae i fd jmai all raan aaaapt UOt, 



. -__- lad I 

bare baea anatite !•> oMala taa Saaraa aeparateir. 

From the Northwest the exhibits are somewhat irreg- 
ular, with the gains, however, predominating. 





RABanoo or aoRTawaaTaBR uaas. 




Jwa^b 


1808. 


1884. 


1808. 


tses. 


UOL 
• 


1880. 




• 


• 


• 


• 


• 


aarLCad-R.* Me. 


OMjao 


t7M34 


*utao8 


8*8481 


•08,140 


*oo.43r 


CHa.Ot.Waal.... 


saR87« 




S8R81S 


44awOM 


•08,410 


008,708 


CM0LMII.a8I.P.> 
HUwaaJkRowi 


«J«M04 


USR84a{ 


S,Td>,9IS 


•bS84.778 


•.U7,0U 


1.0*8«r8 


USiOSI 


lflO.000 


141.0001 


18IJ80 


Ohio. R. La Paa. 


Lunon 


i,tnj»7 


UITJSS, 


MTO.OtO 


U87.818 


1.IM.M1 




tS0,800 


170,004 


••Mso 


807,000 


880,800 


•M.M4 


Ooaat >Hlham.. 


1.8tftJ81 


1888*7 


l.i4l.«80 


1,148.080 


1.080.844 


•laios 


■•aaOmnl 


104.040 


100J41 


IIS^HO 


t88.7*0 


117J00 


U4,lfT 


ltaB.a9l.Umte. 


144.000 


U»,708 


i8M47 17B.MI 


180,040 


••;«88 


••.PaaiaDnlaU 


llOkOa 


I«7>8I 


108,008' 184.048 


187,086 


mats 


Total *,808AS1 


o,08a7aJ 


7,4781177 <,S8%84Sl 8377,771 


0.040J80 



ThA trunk lines, so far as we have returns from 
them, show generally small gains after quite heavy 
loaae* in 1894; but we hare no exhibits yet from such 
roads M the Pennsylvania, the Erie, &c. 
BABtmroa or tbiwk lhbs. 



a. a o. aw 

Ob-AMlai. 

ox.c.a8t.i. 
a.T.ofOaat 
Oh.ae.T.t 

D.O.HaM< 

R.v.c.aa.f 

Wabaab.... 



I oTSjooa 

I.18tk08a 
1J88I17 

•70.4U 
0,187,000 



400^7*1 
1,811,080 



8101107 

71^*10 

0t»7J80 

II 



8 

; 018,884 

' 04<,040 

1.M&108 

M«M11 



4.107,808 
1.011,084 



S 

U)8,07» 

8U,017 

1,101.010 

1.4M,0td 

•08,147 

80.074 

OMI.10» 

l,ioa,o«» 



ISOl. 



• 

191.444 

*04,»87 

1,000,711 

l.WO,aoa 

•06,018 

se,oe7 

M? 1,800 
1,0I7.80« 



1800. 



I 

180^410 
. 100,006 

l.U4,«65 
1.010,180 

oa8.us 

84,017 
M18.000 

e:«,084 



TMaL 7.761.887 7J87.*dl OJO0,Oto' 0,3O.V4Ol 7.010.806 7 .778.00 g 

{mmCjom Watanomi * dadaiMbani for all tbe rean. 
'rwano lor faaotb weak not ramrtad; taken aaine ai laat jear. 

The otber roads in the Middle and Middle W estern 
States record giins aa a rale, though there are oxoep- 



54 



THE CHRONICLE. 



[Vol. LXI. 



tians to ihis, as in the case of the Columbus Hocking 
ValUj & Toledo, which has done poorly ou account of 
didiculties with the miners. 

BiRNIOaSOr MIDOUI ASD MIODLB WMT»«S ROADS. 



Juiit. 


1896. 


1804. 


18M. 


t8»S. 


1891. 

1 


1890. 




1 


1 


1 


t 


t 


B«I.Rooh.*PtU. 


241,086 


lt»JI5l 


8C'8,860 


261.(42 


830,3)9 


198.508 


CkMMO*BMt.III. 


«lt«,i«7 


17«.4a4 


801,931 


810.970 


298.607 


217.11.') 


kM.*WwtMleta 


•its,n4 


aloe,948 


100.490 


154.410 


116.443 


130.211 


Gol.B. T.ATol. 


17«,«7S 


198.6*0 


822.848 


«7f.070 


«8-tl50 


210.9130 


••LlABitMaNo 


■81.741 


«79.a6f 


99.307 


96.097 


100.125 


07.275 


■fantT.ATcrrvH. 


8*.7«1 


00.172 


107.221 


08.19] 


90.498 




runt JkP. MArq.... 


i»;,»io 


180.186 


243.009 


212,070 


««0,07< 




ar.B«>.AlD<l 


20J,»«.^ 


1«9,699 


262,140 


263.2011 


24«.8;3 


276.063 


iniaoto CaDlnl.... 


I.4W.M7 


1,887,88- 


L.96!:.405 


1.006.826 


1.111.325 


1,1^3,260 


I«kaart*aWMt. 


»ag.«M 


268.608 


807.788 


20^.891 


238.455 


2^1.410 


titwUiaad 


e«M.009 


4>^006 


437,400 


480.211 


411.829 


405.372 


Um.MfaMM6l.U 


108.20(1 


99,994 


131.978 


100,7 Sf 


108,882 


95.' 84 


I«ali.N.A.*Ctale. 


»i6.8 


24I.70U 


331.042 


285.176 


239.29(1 


231,424 


H. T. Ont. « Wert. 


810,196 


879.868 


874.I9A 


S3.'.»4.) 


272.515 


l»).5i9 


rttUb-KftWut-D. 


»T«,872 


188,»58 


2S0,600 


200.712 


210,450 


195.0JO 


■t.UAlt.*T.H.. 


89,800 


78.210 


117.818 


110,018 


100.716 


95.233 


VoLAnnAr.AN.M. 


9i,(fl>0 


79.90- 


80.977 


84 .880 


88.228 


04.33 


Vol* Ohio Cut.A 


180.001 


108.087 


115,931 


100.920 


147.354 


lO.bO-^ 


Tol. Pao. a Wert. . 


78.080 


00.725 


80.008 


72.04 


71.212 


72.1S5 


Tol. «t. L. 4 K. a 


18-.««8 


no.' 31 


149.592 


162.245 


149 296 


132.8'4 


Wwu N. T. A P» . 


•*7«.R74 


230,97. 


318.491 


270.18; 


304.324 


304,112 


Wbael.aL. Brt*.. 


107.484 


04.689 


144,569 


120.678 


IIS.424 


10 ,619 


ToUl 


B.46«.7f8 


4.7M.166 


6.714.084 


6.895.832 


5.480.559 


4.933,111! 



Kam* ol Hoaa 



klnelailM Toledo Colambna a ClDctDDail r<ir all the ream. 

• nnmhere for UWOaod 1891 are simply the totals of the earnlDKafor tta> 
fuarweekaof the month •• reported In the weekly returns; the month s ea id. 
(affpatOAllreici^ed the weekly estimates quite considerably. 

• FUniree for fourth week not reported : taken same ba last year. 
e Klfaree for month not reporteo ; taken sanie as last year. 

Anioug the Pacific roadj the Northern PdciSc now 
Eeems to be on the up grade again and the Canadiin 
Pacific likewise shows improving receipts. 

BARmKOS OF PACIFIC ROADS. 



June 



Osn. Paclfle 

Horth'o PaclSc. 
BtoOr. West'n., 

Total 



U»5. 


1SP4. 


1898. 


1892, 


1891. 


1890. 


■IP 


« 

1.458,083 

l.OiO.Oll 

168.800 


% 

1.890.878 

1,877,010 

219.33i 


> 

1.798,277 

2.060,009 

230.709 


8 

1,000.482 

1.895.832 

221.7U5 


t 

1,103.000 

1.930.101 

156,18! 


2.970,245 


2084.097 


3.987.859 


4.081.116 


3.724.019! 3.489.587 



0R08S EARNINGS AND MILEAGE IN JUNE. 



Mamtaf Roaa. 



SroM B€umtng$ 



1895. 



1894. 



Atoh.T.A8.Fe8yB.. 

BLL. & 8.Fnui.ByB. . i 

AUADtlcA Psciao.. 
Atlsnllr & Danville.' 
Balt.AOhloSoutliw. 
Blrm'bani <jt Atlantic 
BTooKlyn Elevated.. 
Buff. Roeb. A Ptttsb . 
Burl. Ced. R. A Mo. . . 
Ckuadlan Paclfle... 
OBTOllna Midland.... 
Cheaa peace & Oblo . . 
Okes. O. dc So. Weet'n. 
Ohio. A East 111)0018. 
Ohio. Great Western. 
Ohio. MU. ABt Paul. 
Ohic. Pno.A St-Lonls. 
Ohlc.R.Isl.dt Pao... 
Chlo. A West Mich... 
On. Oeorg. A Ports.. 

Obi. Jack. A Mack 

Otaiii.Port8m'tli & Va. 

OtoT. Akron A Col 

Oler. Cam on & So... 
aev. Cln.Ch.&Ht. L.. 
Clev. Lorain <tcWbeel. 
OOLBook. Val.&TuI 
CtoLSaD'kr. A Uock. 

Oolusa & Lake 

Denv. <& KloUrande.. 
Det. LauB'i; A North. . 
Dal. 8o. Shore A Atl. . 
EUrIn Jollet A East. . 
JBtmist. a Indlanap. 
Kransv. A Rlclim'd.. 
■ransv. A T. Haute. . 
Flint A Pere Marq... 
«. Worth* Rio Gr.. 

a«on^a 

Oft. South. A Florida. 
er.Eanldii <k ludlana. 

du.Rlch itKt.W.. 

Tnverse City 

IIiuk.ar.R.&Ind.. 
0r. Tmnk of Canadat 

OhIc.&Gr. Trunk.* 

DetQr.HaT.&Mll.' 
et. No.-S. P. M. * H. 

Sastemof Minn... 

Montana Central.. 

Oalf&Chlcaso 

Houston E. A W.Tex. . 
Homeaton A Shen . . . 

minolK Central 

lad. Deo. A Western. 
Intemat'l A Ot No.. 
Interoceanlo (Hex,)*. 

Iowa Central 

Iron Ball way 

Kanawha A Mich 



S 

2,147,169 

462,999 

3S4.980 

46,R09 

478.0:>8 

1,480 

159,S90 

244,68S 

297.139 

1,516,000 

2,021 

777,140 

190,516 

282,«67 

289,370 

2,263,8f4 

71,201 

1,133,321 

122,274 

5,663 

45,493 

21,392 

79,776 

59.465 

1,160,9^0 

108,053 

176,973 

68,765 

1,000 

572,900 

84,743 

180,853 

80,998 

20,582 

10,406 

89,761 

197,910 

24.487 

77,269 

66,759 

160,825 

34,103 

3,396 

9,601 

1,836,117 

157,630 

58.219 

1,091.771 

107.181 

146,569 

3,100 

33,000 

6,300 

1,499,367 

30,527 

244.572 

115,739 

124,549 

3,767 

37,908 



lnert€ueor 
Dtertatt. 



S 

1,856,894 

440,40.^ 

246,473 

40,354 

453.767 

1,1147 

140,529 

119,851 

273,684 

1,458,633 

2,444 

698.321 

1 47.974 

179,414 

262,209 

2,383,942 

48,866 

1,223,697 

103.S48 

5,600 

45.637 

24.542 

69,866 

40,358 

1,021,066 

79.538 

198,536 

52,039 

1.300 

472.200 

79.356 

175,654 

55,663 

18,448 

8,248 

66,172 

186,158 

15,325 

78,102 

71,669 

152.759 

34,294 

3,410 

9,136 

1,293,353 

166,837 

56,294 

770,169 

71,984 

140.694 

2,608 

25,300 

9,152 

1,387,836 

26,966 

202,132 

141,408 

105,141 

2,411 

37,882 



Milraii, 



1895. 1894 



S 

+290,275 

22,594 

+ 108,507 

+6,166 

+24,291 

-67 

+19,361 

+ 124,»34 

+23.455 

+ 57.317 

—423 

+78,819 

+ 42,642 

+ 103,073 

+ 27,'6l 

—120,078 

+22,335 

-90,876 

+ 13,326 

+ 63 

-144 

—3,150 

+9.910 

+ 18.607 

+ 139,854 

+ 28,517 

-21,563 

+ 11,726 

—300 

+ 100.700 

-+5,387l 

+5,299 

+ 25,435 

+7,134 

+ 2,158 

+23,589 

+ 11,752 

+ 9.162 

—948 

-4,80) 

+8,066 

-191 

—14 

+466 

+ 42.764 

-9.207 

+2.925 

+ 321,612 

+ 36,197 

+ 6,875 

+492 

+7,700 

—2,852 

+ 162,0?1 

+3,661 

+ 42,440 

-26,669 

+ 19,408 

+ 1.858 

+ 10,026 



6,481 


6,696 


1,328 


1,329 


943 


947 


285 


285 


921 


917 


22 


22 


20 


20 


334 


334 


1,134 


1,134 


6,391 


6.327 


55 


55 


1,382 


1,278 


398 


398 


515 


515 


922 


922 


8,148 


6.148 


222 


222 


3.571 


3,571 


575 


575 


42 


42 


345 


345 


111 


HI 


194 


194 


210 


210 


1,850 


1.850 


195 


165 


329 


329 


272 


272 


22 


22 


1,657 


1,657 


334 


334 


594 


594 


182 


182 


156 


156 


102 


102 


165 


168 


637 


637 


146 


116 


307 


307 


285 


280 


436 


436 


Hti 


86 


26 


26 


37 


37 


3,512 


3,508 


336 


335 


189 


189 


3,721 


3,709 


72 


72 


256 


256 


62 


62 


192 


192 


95 


95 


2,888 


2,888 


152 


152 


825 


825 


519 


519 


497 


497 


20 


20 


173 


173 



Can. C. Ft.8.<&Mem.. 
Kan. C. Mem. A BIr.. 
Kan. City &N.W. ... 

Kau.t'.d: Beatrice.. 
Kan.C.Pitlsb. AGult. 
Kao. City Sub. Belt.. 
Keokuk A Western. . . 
LakeKrieAII.de Bo. 
Lake Erie * Weotern . 
LehlKhJi Hud. River. 

Los Angeles Term 

Louisv. KvauA. A St.L 
Loulsv. A NKHhviUe. . 
LoulBv.N.AIb.diChlc 
Loulsv. St.L. <fe Tex. 
Macon ilk Blrmlnx'm. 

Manlstloue 

Hemp. A Charlest'n' 

Mexican Central 

Mexican National.. 
Mexican Railway!... 
Mexican Southern*.. 

Mlnu. & St. I.,oui8 

Mo. Kana. &Tex.8y8. . 
Mo. Pac. A Iron Mt.. 

Central lirancb 

Mobile & Ohio 

Mont. <fe Mex. Gulf .. 
N. Orlean.s& South... 
N.Y.Cen. &HU(1. Rlv. 
N. Y.Out. A West.... 
Norfolk * Western.. - 

Northern PaclUc 

Ohio ttiver 

Ohio River <& Char... 

Ohio Southern 

Peo. Dec. A Evansv. . 
Pitts. Mariou 4 Chic. 
Plttsli. Shen. * L. E.. 
Plttsb. & Western.... 

Plttsb. Clev. A Tol. 

Plttsb. Pa A Fair.. 
Quin. Oiuaba&K.C. 
Rio Grande South'n. 
Rio Grande Western 
Sag. Tuscola A Huron 
Bt. Jos. A OrT. Island.. 
Bt. L.Alt. A T. H... 
8t. L. Kcnnett A80.. 
St. Louis South wes'u . 
8t. Paul A Duluth.... 
San Fran. A No. Pac. . 
Sav. Atuer. A Mont.. 
Sher. Shrev. A South. . 

Silverion 

Southern Railway.. 

Texas A Facitic 

Tex. Sab. V. AN. W. 
Tol. A. Arb.AN.Micb 
rol. A Ohio Central. . 
Tol. Peoria A West'n. 
Tol. St. L. & K. City . 

Wabash 

West. N. Y. A Penn.* 
Wheel. A Lake Erie.. 
Wisconsin Central.*. 



Bro$t Mammgt. 



1896. 



271.0*6 

70,609 

17,0.9 

34b 

35.380i 

30,110 

27.295i 

5,090' 

268,489 

34,99 -i 

9,H7l! 

10 -,200! 

1.534,520 

255.800 

2l,t!0e 

4.76h 

12 537 

54,405 

730,249' 

33H,63.<j 

240,224 

26.270 

145,969 

859,086: 

1,635,000| 

39,000| 

255,967' 

95,000 

5,250 

3,537.905 

310,195 

557,864 

1,263.245 

68,442 

12,496 

38.000 

63,460 

3.485 

54.516 

155,213 

77,234 

40,925 

20,947 

36,426 

197.000 

9,452 

43.535 

89.890 

3,200 

368.100 

118.945 

81.777 

34,684 

211,513 

7,500 

1,281,374 

396,591 

2,583 

94,096 

136,664 

73,086 

137,663 

955,384 

188,700 

107,484 

298,36d 



1894. 

« I 

327.648 

67,707 

19.17.4 

8!)7 

36.663 

2.'>,24i 

25.97 

3.S70 

258,508 

41,324 

16.498 

99,9!il 

1.544,809 

241,799 

2.=..575 

5.601 

10,761 

62.930 

688,541 

884,272 

254,915 

29.395 

125,702 

611.658 

1,449.182 

63,138 

245.670 

91,.i92 

6,225 

3,317,9H9 

379.''68 

840,820 

1,056,611 

83,036 

10,507 

39,041 

5H,353 

1.820 

30,656 

115,667 

35.039 

32,252 

20,064 

31,849 

168,800 

11,080 

61.670 

78,210 

1.820 

280.0 .7 

127.969 

77,923 

32,932 

17,462 

6.745 

1,240,3 il 

411.024 

2.344 

79,908 

103.637 

60,725 

116,531 

831,591 

147,100 

64,589 

252,476 



i/ncreow or 
Decrease. 



MiUage 



1896. 189 4. 



S 

-56.602 

+2,812 

-2,114 

-551 

-1,283 

+4,863 

; 1,319 

+ 1,520 

+9,981 

-6,326 

—6,627 

+ 3,206 

—10,289 

+ 14,001, 

-8,967 1 

—833 

+ 1,776 

-8,525 

+ 41,708 

+5,361 

—14,691 

—3,125 

+ 20,267 

+247,428 

+ 185.818; 

-14,138 

+ 10.2X7 

+ 3,40- 

975 

+ 199.906 

— 69.»s7i» 

—282.956 

+^06,631 

+ 16.406 

+ 1,989 

-1.011 

+ 4, 07 

+ 1,605 

+ 23.860 

+39,546 

+ 42,195 

+ 8,673 

+ 88:< 

+ 4.578 

+ 2^. 00 

— 1,628 

-13,115 

+ 11,680 

+ 1,380 

+89,033 

—9,021 

+ 3,8 ^^4 

+ 1,752, 

4-3,05; 

+76J 

+41.023 

—14,433 

+ 89 

+ 14,188 

+ 33.027 

+ 12,361 

+ 21,137 

+ 123,798 

+41,600 

+42,895 

+ 45,893 



916 

276 

158 

2. 

237 

35 

148 

61 

725 

90 

50 

37-.^ 

2,955 

537 

166 

97 

44 

330 

1.860 

1,219 

321 

227 

355 

1,885 

4,990 

38^ 

68' 

338 

65 

2.396 

4 

1,567 

4,495 

215 

207 

220 

334 

25 

18i 

22 

77 

61 

134 

180 

520 

67 

445 

239 

20 

1.223 

248 

165 

300 

155 

20 

4,405 

1,499 

39 

307 

368 

247 

451 

1,935 

643 

260 

915 



916 

276 

198 

36 

239 

35 

118 

61 

725 

90 

50 

372 

2.955 

537 

166 

97 

44 

330 

1.860 

1,219 

321 

227 

356 

1,723 

4,987 

388 

687 

388 

65 

2,396 

477 

1,567 

4,495 

215 

2>.7 

226 

334 

25 

183 

227 

77 

61 

134 

180 

520 

67 

445 

239 

20 

1,223 

248 

165 

300 

15S 

20 

4.405 

1,499 

33 

307 

368 

247 

451 

1,935 

643 

260 

915 



Total (126 roads). . 37,195.279 34,35 ',766 +2.841.513 98,726198,640 

" For three weeks only. 

t For four weeks ended June 29. 

GROSS EARNINGS FhOM JANUARY 1 TO JUSE 30. 



name of Road. 


1895. 


1894. 1 


increase. 


iDecrca«. 


Atch. Tot>. A S.Fe Sys 


13,648,577 


s 1 

13,284,975 


$ 
363,602 


S 


St.L. A S.Fran. Sys.... 


2,774.679 


2,747,088 


27,391 




Atlantic A Pacific 


1,870.382 


1,545,627, 


325,255 




Atlantic A Danville .... 


262,321 


237,641 


24,780 




Bait. AO. Southwest ... 


2.992,512 


2,9J4,216 


83,296 




Birmingham A Atlantic 


8,134 


10.902 


........ 


2,763 


Brooklyn Elevated 


1,114,865 


912,105 


202.760 




Buff. Koch. A Pittsburg. 


1.398,868 


1,082,889, 


318,979 


... .... 


Burl. Ced. Rap. A No... 


1,739,034 


1.762.3121 




23,278 


Canadian Paclfle 


7.559,371 


8.137.769 




878,398 


Carolina Midland 


15,910 


21.622, 




6,712 


Chesapeake & Ohio 


4,592,486 


4,125,489 


466.996 




Ches. Ohio A Souihw... 


1.098,121 


958,0111 


140.110 




Chic. A Ea.st'u Illinois.. 


1.732,194 


1,492,656 


239,538 




Chic. Great Western... 


1,655,647 


1,678,066 




22.419 


Ohlc. MUw. ASt. Paul.. 


12,540,278 


13,678,296 




1,138,018 


Chic. Peo. A St. Louis.. 


442.069 


332,121' 


109,948 




Chic. Rock Isl. A Pac... 


6,771,688 


8,032,809, 




1,261,121 


Chic. A West Michigan. 


780,873 


724.414 


56,459 




ClB. Georg. A Portsm'th 


29.365 


31.729 




1,864 


Cln. Jackson A Mack... 


277,869 


291,500: 




13,631 


Cinn. Ports. A Virginia. 
Cleve. Akron A Col 


120.276 


117,816 


2.960 




442.450 


424,035! 


18,415 




Cleveland Canton A 80. 


300,503 


234.968 


65.535 




Olev. Cin.Chic. ASt.L.. 


6,573,386 


5.917,320 


656,066 




Cleve. Lorain A Wheel.. 


571,580 


456,167 


115,413 




Col. Hock. Val. A Toledo 


1.052,188 


.1,113,366 




61,178 


Col. San'ky A Hooking. . 


372,925 


264,437 


108,488 




Colusa A Lake 


7,420 


7,669' 




289 


Denv. A Rio Grande 


3.202,629 


3,022,9011 


179,728 




Det. LanslnKANorth'n. 


540,428 


497,418 


43,010 




Dul. 80. Shore A Atl.... 


899,143 


741,943 


157,200 




Elgin Jollet A East 


538,720 


493,012 


48.708 




Evansv. A Indianapolis. 


127,356 


129,261 




1,905 


Evansv. A Ricboiond... 


48,488 


48.933 




450 


Evansv. & Tcrre Haute. 


511,873 


492.426 


19,417 




Flint A Pere Marquette. 


1,212,045 


1,204,574 


7,471 




Ft. Worth A Rio Grande 


174.782 


121.748, 


53,084 




Georgia 


578.255 


614,165 




40,910 


Oa. South'n A Florida.. 


887,875 


422,831 




35,456 


Gr. Ranlds A Indiana... 


970,769 


893,7031 


76,966 




Cln. Rich.A Ft.Wayne. 


210,145 


189,6631 


20.482 




Traverse City ......... 


21,677 


24,S16i 




8,239 


Mus. Gr. R. A Ind 


59,900 


46,093 


13,807 




Qr. Trunk of Canadat . . 


8.223,226 


8,357,191 




133,965 


Chlo. A Gr. Trunk! .... 


1,270,649 


1,380.677 




110.038 


Det. Gr. H.AMllwt... 


429,881 


440.356' 




10.975 



JCI.T 18. 18M.I 



THE CHRONICLR 



55 



.Vamt of Road. 



«teM Vor. St. V. M.A M. 
Baatcm of Mlnnaaota., 

Mootan* Ceatnl 

eoUACUeaio I 

HonatOD E. A W. FezM 
HniBMtoB *8h eB « D il'li' 

nilools Oaatnl 

iBdlanm Dm. * WMt . . . . 
Int. A OraM XorUem. . 
IntcTooeanlo (Max.))... 
lowsCbatnl 



1895. 



Iroa Bailwar 

KMUkwhaA Mlohlnio .. 
Kmum C. Kl 8. a Mem . . 
Kan. CItr Mem. * Bir. . 
KwumCIItA.V. W 

Kao. atf A Beatrice. 
Kan. City Pitu. \ Quit. 
Kanaa* CitT 8ub. Belt. . 

KaoKok A Wealern 

L. Erie AlUanoe * So... 
Laka Crie* WaMm... 
Ukc Shot* A Mloh. So. 
Lahliet A Bodaoa Rlrer 
lioe AncelM Tkrmloal. . 
LooUr. Erma*T. A St. U 
LoolaTille A NaehrUle.. 
LoulST. X. Alb. A Chle. 
LoaliT. SI. L. A Texaa.* 
Maeoo A Blruiln«ham.. ' 

Maalatlgae 

MaapUa A Charleaton*' 

Mailaaa Oaninl 

Mezleaa Vauoaal I 

Maslaaa Ballwai: 

Mainan toatken* 

IUak.OBL.ACaB.ao.. 
rnnnaanntla A at. lAOlal 
Muaourl K. A Tex. aft., i 
Mo. Psrine A Inn Ml.. I 

Ceutral Braoeb j 

MoMIe AOhio 

MoatereT A Max Uolf. ' 
M . Orteaa* A Mnuibera • 
5. T. CML A Bad. BIT.. > 
ir. Y. OalBrlo A Waat^. . I 

Morfolk A Waatara i 

HorUera Paaiae , 

OUa Rlrar.. 

OUo BIT. A Ubarlaatoo 



Ofeloai 

KorU 



tUee. A BraaaT.. 
nttiA. MarloB A CUa.. 
Pttiab. BbeB. A L.. Brio. 
Pitlabors A WaalaiB.... 

Pitta*. Clara. A foL.. 

riiui*. Palaoa. • fpi 
Qolaer Oawha A K. C. . 
Klo OfBBda SiMUhara .. 
Bio UfBAte WaalarB . . . 
Bac' ft wae l aA Hofoa.. 
at. Joa. A Ora^ laiand 
Bt. U. Alt.AT.H.Bi'cii- 
St. L. KeaaaMAaaai 
St. UmIs SaoifewaMer 

at.Paal A OolatA 

•aarraa.AVn p».>w. 
Baraa. Aaer. A Moir 
H't-naaa SliKTa. A So. . 
H "Hbara Bailvar .... 

T.'xaa APaelBa 

Tax. aaMaaTai. A :(.W. 
*k>I. Aaa At*. A ». M.. 
Tolate A Ohio Oaatral. 
nuate PaartaA Waal** 
IM. at. U A Kaa. City. 

Vabaak 

Waat K. T. A Pa.* 

ITkaalln* A Lake Bria . 

TMalilMreada)... 
■•tlueraaaa 



a 

S,230.9«ft 

S15.1S9 

7S0.04a 

SO.SAi 

210.979 

13.900 

9,319.42> 
314.481 

1,747.713 

1.122.31"' 

TJt.wm 

25.2»« 

21-.'.30t. 

2.|><<6.I13 

47a,74i 

10-'.2ei 

2.414 

211.33S 

ll3.t«3 

15S.3S<' 

37.-«96 

l.S7«M3i9 

•.53«.MM 

SI8.83S 

81.33 

S<tl,OU> 

9,076.3 li- 

1.43X. 10 

17«,333 

e7.a»S 
49«8t3 

4.aoa.iw 

S.IUJI7 
1.7M356 

6.90a,0M 

•aa^is 

»,taa.aa« 

ia.aai.at< 

Muaa 
i.ao£m 

assasi 

S7.<ll 

7,lu0.4'>» 

840.410 

80.7 K& 

sw,«ao 

4M,l»4 

ao.tao 
f<S3ai 

li9,»4.1 
1I8.709 

iaxi«3 

i/>iuai 

s«.aa4 

3»a.A9« 

'■ -i.ooe 

.338 

.IV 



2U.083 

aiLiaa 
?«a.»8» 
4aa.a7i 
?a».«M 

i,4«i.«n 
»ao,taa 



1894. 



a 

4.167.878 

399. 15« 

689.036 

19.36V 

189,878 

5S.91ft 

8 Jt 17.835 

164.843 

I.418.I7V 

1,189,443 

8ir,9ti4 

19,331 

173.842 

3318.365 

492.539 

147.349 

6.189 

181.313 

108.801 

178.162 

3>346 

> .303,155 

9,3» 6.329 

204.218 

S.M30 

679.413 

9.218.418 

1.284.880 

l»8,Ta7 

Srt.255 

80,978 

583.81 1 

4.869.751 

3.106,188 

1.569.108 

84.<».S1«. 

6.ie9M0 

78S.8t« 

4.176ja4 

lv,37a.»8« 

M8.S89 

1.56».4ai 

568.471 

46.404 

19.688.441 

1.74rt,9ll 

4.6 6.168 

6.410.079 

2»».88l 

81.810 

885.918 

877.161 

lijil 

17t.8aB 



trui 

18a.a8L 
lt8j»T0 

iaui04 

480311 

aiajaaa 

IMOO 
1.900.50S 
617.008 
864.0U0 
807.805 
180387 



InerKUt Menu.. 



• 

1,063.8 87 1 

146.0331 

S1.019 

1,090 

Sl.LOi; 



702, 10» 

5O,03<t 

329,3431 



6.075 

33.1)64 



59.>-17 
4.642 

167373 

140."7S 

12.640, 

1,233 



154380 



.1 



86.713 

i'-iAii. 

47,179 

186,35* 

si',0(to 
«a.7o>i 

U>41.77< 
44.411 

■i3;78'' 
6>.210 



10.013 



67,126 
81.739 



347,1.^2 

1>I.797 

88.988 

8,7^3 



19302 



18,373 
142.094 

"7,562 
1.212 



86.30U 



13.317 



140,030 



798.377 



10333 



0O9.7ac 

4I.62U 

5,143 

40.U-2 

5i.»9j 

4.703 

9i30r 

100.746; 

ll'.<«77 



363U2 
4.9,907 



4341 
4348 

aaMM 



8.983.781 

30.474 

310.791 

871.- '.'J 

40 

OS 
0(83' i 
1,842319 

585304 



aM30S370,880.4M318 13.834.005 MS3.4V3 

• ' 7,100308 



S«.lli 

l4»;iM| 

....^ 

94370 

'»30i' 

11317 

JJa.787 

160.164 

6t,6««e 



178.615 



81341 
1360 



108398 

■■■'Sfi 



* Por tkrao waeka oaly ia Joa*. 

tToJaaaaa. 

IToJaaaOa. 

B0A09 REPOBrtSO VOB nVB MOBrflSw 



/a<i.l«*Jr«v3l. 


1885. 


1804. 


ImertmM. 


Oarmue. 


Aliaafcaajt ▼allay 


808334 


705,898 


167.381 


a 


AsMlaA aortawMaaf* 


9130> 


87.156 




5,947 


Bait. A ».-Baa4 liaaa.. 




0.316.778 


938371 




WaaillMa,. 


staaajS? 


1.726388 


3ao3*4 




0»i>d>oAAila*il«k.... 


908371 


254304 


8>n 




Oaatnl nf ileorda 

Coatral "f Htm ifttj 


i.5ei378 


9.187360 




973,902 


«.7«930ll 


4380300 


Mi399 




Ckaiaw A uariiDatoa. 


43316 


863*4 


0309 




GBl*a«a BnrL A. tank 


66/,786 


005307 




3.2.12 


tStmia Ba L A Qalaer 


11300308 


19.7M30. 




1.2873'^ 


SiaaaoA Kri* 


996.131 


90*349 


87303 




CkHaaoA NorUwaat 


1037337 ■> 


11336.746 




951.171 


Slauai. P Mina A Urn. 


831 6.4 32 


3381369 




513370 


ai.B. ». * rai. Pa*. 


13S330k 


13*1300 




6,0UO 


Aia.at. Oawkat*.... 


• 7530* 


aooiooo 


35300 




W.O. A IWaaWWB... 


59<3 f 


4003110 


37.000 




^Waka. .. aknTtAVae! 


^ISS, 


201300 
906,0^ 


"8,000 


2,000 


jMaaaktaad VaiW. .. 


394313 


38530I 


0!33! 




t8<ldiJ\ AaVonhm" 


9.7ae,' 24 


S3 4.194 


180.480 




833« 


3006 


72< 




fMntUCar. a Monk.. 


985 364 


8a5.0i6 




9,742 


■owoaT. AWUai .... 


I0.7*s 


14304 


3,164 




Ji«k*a«. ram.AK.». 


319365 


4.4.664 




203,199 


\^%K Iataa4 .. ^ 


I30034J 


13*8^184 




61,731 




1,079309 


8S8 11'« 


196,471 




M«xi<«a >o tk*ra 


aOOAM 


88630* 


190 




Banbr .,-k,t « M L .. 


I3wi30a 


13013^ 




7,687 


{J. Y 1. E.laA Waa»... 


10.14'«36a 


8,480.186 


716,688 




5JL"**«^ WaalacB 


806388 


713308 


181, 32 




Bnrlkai'a Oaairal. .... 
Owaa*A Weaiara. .. 
g2W» ««•»•"» lo. ... 


1,90^ l» 


9.800.;83 

18.019 

13993'! 


806,733 


■3,923 
908,753 


y**«i-8aai of P. A B . 


34,>70.«7« 


32.0833 '6 


3,484381 




Waat -t P. A B. 


• 5390,072 


*Ji 0, 00 


1, '1 29,072 






Jan. 1 lo May SI. 



Peoria A Eaateni 

Petarabar* 

Philadelphia A Bead. .. 

Coal A Iron Co 

Richmond Pred. A Pot 
RiokmoDd A Peterab. . 
Saff. Tal. A St. Louis... 
Pan Ant. A Aran. Paaa. 
Soatkera Pao (6 rda.) . . 
Stoay Clara A Oed. Mt . 

dialer A 0*laware 

UbIob Paolfle(6 roada) 
l7ntOB Pae. Den. A Gulf 
Waoo A KoittawrMern 
Weat Jersey A tir'nche* 
«'eat Vm. Cent. A PlttK. . 

Western Maryland 

WilghtaTllle ATenn... 

Total (63 roaila)... 
Wet iBereaa* (3-42 p. a.) 



1893. 



a 

710,746 

311,204 

8.077,84(1 

8,963,106 

397,364 

132,960 

34,630! 

17.796,9C9| 

7,^31l 

131.321 

•6,}*»,77S 

l,171,2iS 

PO,181 

520.9'4 

4< -1.4S2 

H''.7-iS 

33,08b' 



1894. 

I 

5(>6,343i 

331.2191 

7,3'2.24.'S 

7,876.8.'»S| 

297,67'*! 

13^,616 

34,8331 

563,5H4, 

17,S06,' 0« 

7,894 

13e,30» 

•7,0iW,4«9i 

1,1 07.737 j 

67.226 

533,103 

3BI,6M6| 

423,'8'1 

31,681 



Inertase. Deereatt, 
6 
19,015 



a 

144,403 

7"S,5»"5 
1,036,253 



184,643i 
490,303 



67,028 
22,933 

42.636 

34,372 

1,408 



112 

5.686 

325 



843 

3,181 
739,711 



12,901 



133,064,461 



149,932,388 9,463,376 4.331,703 
'■ 5,13:.873 



* Por tka Colon Paciflc w* kave tke flitarea tor four montha to April 
30 only. 



THE NEW YORK STATE BANKERS' ASSOCIATION. 

Tb* second aooual convenUon of the Sew York State Bank- 
er*' AasocUiioD, which ma org&nized a year ago, kiisembled 
io SaratogA on Wednesdaj. The report of the Treaaurer, 
Mr. James (}. Cannoo, Vice-Pre*iilent of the Fourth National 
Bank, si-oared a menabership of 8S9 in nine groups, and a bal- 
ance of cash on band of $1,243 68. 

The Presidenr, Ur. William C. Cornwell, in his aaouil ad- 
dr«**, raid tboUtmonf; the important results accomplished by 
the Aasociotion waa the adoption in nearlj every g^up of a 
oniform •totement for borrowers by which the banker ia en- 
ablad to aaoertain the condition of applicants foraccommo- 
daiioo and to guard against k ate* from bad debt*, which are 
the moot daagoroiu of all thooe thing* which tend 
to sap the surplus and dividends of bank*. The 
establisbmeat of confidential relations between tbs 
banker and Ilia client enable* the former to become the ad- 
aiaer of the latter, and the banket'* knowledge of credit may 
and shoald make him invaluable to the business man in 
checking infl*<ion aod unwise venture*. The suggestion was 
made that the collection of country checks be so systematized 
as to facilitate the busints*, through clearing bouse*, and that 
uniform sobsdnle* ot r»ta* be estoblished with p^ rau par- 
tiolpotioo in pro&ts. The principal part of the Presideni's 
addrtoi waa devoted to the ({uestion of the currency, and he 
was of ibe opinion Ibat tbe group meeiingi should hereafter 
include disciusioos of the currency and the public events af- 
fecting commerce, to which meeting* the public may be in- 
vited. Banker* handle to an enormous amount and by far the 
lAfgast port of the currencr ; they oome daily in contact with 
commerco as related to currency, and are students of 
ito effeete and tbo consequences of its character. 
If tiM currency i* *ound the commerce of the country 
ha* a sore basis for healthy growth and the bankers are in 
daily toneb with iis wbolosome ioauence. If the currency is 
isbastil or onaeientiac, commerce feels at once ito unsatisfac- 
tory and baleful i oil nonce, and the banker, ilrst of all, is cog- 
nizant of the danger from which be can himself escape but 
which falls upon the merchant, stunning and stupefying trade 
and working the greatest hardship to him whoae family are 
dopondont for their daily bread upon daily wages. In oon- 
elosioB tbe President claimed that the bankers of New York 
Stete are in favor of honest money. " They maintain," ho 
said, "that sound money is one hundred cento on the dollar 
of tbo world, with gold as the stoodard — a dollar 
which paid for in hon<-st labor will buy for the laborer a 
value of honest labor exactly equal to that which be 
gave for it, not only in these United Stete* from tbo 
pine trees to tbe Uulf, but anywheie throughout the broad 
world where God's snoahine blesses the h(>ne*t toil of man." 

Addi M B t* were made by Mr Bray ton Ive*, President of tbe 
Waeiam National Btok, wh 1 brinllf aketobttd the Bond 3yn- 
dioala operationf , and by Mr. B B. Walker. Oeneral Itaoaifer 
of the Oaaadisn Bank of Commerce, who gave a Canadiaa 
view of tlM flnaacial situation ia the (Taited States. Oa 
Tnursday speec h ea were made by U<-. W. P. .St. John, Presi- 
dent of tbe Mercantile National Bank; Bx-Coogressman M. 
D. Harter. of Ohio ; H. W. Yt e*. Preiid-nt of the Nebraska 
National Bank and Jamen G. C<nnon, Vice-President of the 
Fourth Na' iooal Bank. The latter, in the course of his re- 
mark*, rmphaaized the neorsaity of r»quiring uniform state- 
menu fiom borrower*, and said that from January 1, 1894, t« 



66 



THE CHRONICLE. 



[Vol. LXI. 



June 30, IbiH, there were recorded in New Yoik County 
judgments in favor of New York banks against insul- 
▼ent debtors amounting to $773,000 and in favor of banks out- 
side the city amounting to $MI,000, or a grand total of over 
|1,1!M,000, In one of the lirgest institutions in N. Y. City 
during the past four and a-balf years there were niide 2,164 
requests for sutements, and out of that numb}r there were 
only fifty -one refuels. Based upon these statements and the 
teots contained therein, besides makiog all their loans and 
dtooouots to their customers, this institution purchased ia the 
open market $71,700,000 of commercial paper at a net loss to 
the bank of only $37,000. 

The following resolution was adopted : 

Seaolved, That the Bankers' Association of the State of 
New York favor the appointment of a commission, under 
authority of Congress, composed of experts and business 
men, whose duty it shall be to report to Congress for its cou- 
sideration a comprebensiv-e cuirency system adapted to the 
oommeicial needs and interests of this nation. 

The following repoit of the Sound Money Committee was 
also adopted : 

We, the bankers of the State of New York, in convention 
aaf^embled, being indebted to the people to the extent of 
$890.0CO,000 in the form of deposits and $193,000,000 in the 
form of capital and surplus, declare ourselveti in favor of 
honest money. We are opposed to Inflation. We are opposed 
to a debasement of the currency. We are oppo^^ed to the free 
coinage of silver at the ratio of sixteen to one. We are opposed 
to two qualities of money, knowing full well that the less 
valuable would inevitably drive out of circulation the more 
▼aluable. We favor a currency sound, elastic and good as 
gold — fibod everywhere, good by the standard of the world 
and good in the marts of the world; as good in the bands of 
labor as in the hands of capital. We demand a currency 
good and stable, based upon the highest standard known to 
the sisterhood of nations, worthy of the wealth and dignity of 
OUT glorious country, and which shall prove a firm and last- 
ing basis to a restored and continued prosperity. 

The following officers were elected and the convention ad- 
journed to meet in Niagara Falls next year : James G. Can- 
non, of New York, President; George Sloan, of Oswego, 
Vice-President; A. D. Bissell, of Buffalo, Treasurer, and 
Ledyard Cogswell, of Albany, Secretary. 



DEB 2 STATEMENT JUNE 29, 1895. 
The following is the oflBcial statement of the United 
States public debt and of the cash in the Treasury at 
the close of business June 29, 1895. 



CASH IN THB TRKASDRY. 

Sold— Coin 199.147.918 

Ban 56.740.< 17 

BUrw^DoUui _ 871,806.0^7 

nUMldlarj oolQ ie.55v.ti44 

B»t»... l«4.479.^4S 

VMai^Dnlted Hlato* mitM bl.57'.9«<i 

Trauarj DotM of 1880 8U109H93 

OoM oaittSeatM h8.89u 

niTw ocniamtM 9,i-5.7.i2 

OentfloatM of deposit (Act June 8. 1878) 850.000 

National bank notaa 4,618,tS9 

OUiv— aonilii, lnt«reat and oonpona paid, awalt- 

Inji reimbursement 14.A49 

Minor coin and fractional cnrrenoT lllwVsi 

OepoelU In nat'l bj.nk deposi arlea-Ken'l aoo't.. la.oss.RM 

DUbnnliu oBoeri' balance* 8,714,98tf 



Asiremu., 



OVMAND LIABUITiaa. 

OoUl eartuicatea »48.4«n,«se 

BIlTer certiacatea 3ai8»4S04 

Ovtiflcaieeof depoeltaot JnnaS, 1978 5V55.ixio 

Tr«uarynoteiof IfW 14e;o-s.l'K) 

road inr redemp. of anonrrent nat'l bank notae 7 712 h19 

Qautaiidlng cbetftj and drafta 

DtabarainA omoers' balanoea. 

Asaner aocuunta, Ao 

goj" "TV!" IIOO.'OO.OOO 00 

Natcaan balance 80,210,193 61. 

Assrente 

Otab balance In the Treaaarr Mar 8t. 1893 

OMbbalancein tbeTreaaurr JiuieSO, 1895 

InereMa dnrtni tbe month 



no 

77-1155,893,831 46 

00 

91 

5«- 519.838,753 47 

00 
00 
(JO 
00 
31- 183,925,883 70 

39 
10 
40 
94- 16.9 08.180 83 

»8ii,o«i.68e~4a 



1,«WJ.I77 
8%8'2.«89 



00 

00 

00 

no-»o;9,207,8 118 00 

So 

US 

56 

91— 36.613,669 95 



DKBT BHAKlNa NO INTEKB3T 

Dnited States Dotea tS46,641,01« 00 

Old laiuand iKitaa 94,847 50 

National Bnnk notes: 

KedempllDn soooant. 86.359,489 00 

PractonHl ourrenoir (15.270.05149 

Laos amuuiit eallmated aa loat or destrorad 8,375.984 00 

6,894.117 49 



Axffreirftta nf debt beartns nti Intjireat.. 



.... (878,989,469 OH 



C^HriflOAl'ltS ANU HOta-% ISSUHU UN DUPUSITS Oir COIN AMD 
tiHSAL-TigVOBa NOTBS AND POaOHASlIS OP SKjVUB BITLLION. 



<7lan</l«a(4on 0/ CertiM«**i and Nott*. 



fn tlU In 

Trtaawry. CHrcti^tton 



Amount 
rwucd. 



lold certtflcatea 

41lTer certifloates 

artlttcatiM of Deposit.. 
I^aasnr J notes of 1890. 



* VBTnirnxtt of oertlflcate^.- 



tH8,S90| «48,<>!l.s«9j (48.469,959 

9,16^758 819.731.7ui 838.891,504 

360,0O0l 65.4t5.000} S5.755.000 

30,tOl<,H9j| 115.978.708. 14H.08^400 

«8fl,710.H34't5a9 497.089 (579.807.8^3 



BBC A PITUl. UTION. 



OtauiUcation ot Dibt. 


Jtint. 80, 
1895. 


llaySl, 
1896. 


InereoMt or 
Decraut. 


Interest-bearlnit debt 


( 

716^202,060 00 

1.721,690 26 

378,989,489 99 


( 
716,802.010 00 
1,734,9'.J0 86 
379.836.461 92 


( 

L60 00 


Debt a which Int. has ceased.. 
Debt beartnuno Interest 


D. 13.330 00 
D. 81t<,99l 98 


Aifltreaate of Interest and non- 
Interest beannKdebt 

Cartlttcate and notes offset by 
an equal amount of cash In 
the Treasury 


1,096.013,120 26 
579,207,583 00 


1,097,773,393 Ih 
573,368.743 00 


D. 860,871 93 
I. 5.841,120 00 




A^nrecata ot debt, Inclndlnn 
flert,lflcBt«s and not,«s — 


l,fl7«.120.98.'l 85 


1.671,140,136 18 


1.4.98''.818 07 



Boi^oa isaasD in aid of pacicic baii<r i\»-i 





PHncfpol 
Out- 


Int«r«»t 
accrued 
and not 
vet pnid. 


Jnterat 
paid by 

the a. a. 


int. rtpaid by Companies. 


BaJanca 


Warns 
0/ RcMmxy. 


By Tram- 

vortation 

Service. 


By caah pay- 
m'ts; 5 p. e. 
iUteaminQ». 


a/rnt«r'>t 
.patdbi, 


Jen. raclflo. 
Can. PadUc. 
tTnl'n Pacific 
Oan.Br. n.P. 
Kas*. Pacific 
NonxCftP. 


( 

85385,1211 
8,308,000 

27,836,512 
1,600,000 
1,970,560 
1,688,390 


( 
776.554 
189,090 
817,095 

48,000 
. 69,117 

48,849 


( 

41.319,113 
10.478 403 
43,761,044 
8,653,808 
3.037,985 
8,587,838 


( 

7,853.380 

4,40 ).202 

U,857,3al 

825,792 

9,36' 

831,938 


( 
658,288 

(38,41 

6,9^; 


( 

33.307.499 
6,078.208 

28.455 813 
8,0^1.089 
3.018.568 
8,355,900 


Trt»»t«„ 


«4.<l'.S.^l-- 


1.9S>(,10fi 


lORSISl 11 


«7. 177.950 


l,in»,«- 


7H 236 578 



INTBBaST-BBARINa DBBT 



195,840,153 51 

.. ..(811.061,886 48 

(185.870.100 47 

I»5.2t0.1j)JSl 

(9,870.05804 



74U«»/Loait. 



Int'rt 
Pat'lt 



Ma,r'n'dLoan.l8»t 

Oontlnuad at 8 p. o. Q.-M. 
(a, r'ded Loan..l907 g.-J. 
4a, Bafd'ir Certiao'a. Q.-J. 
ee,I.oanof 1904...... g.-r. 

(a. Loan of 1986..... Q.-r. 

Antraaaie ezcI'd'R 
B'datoPao. BB.' 



A rftount 
/•sued. 



B««tit*r<d. 



4X1(850.000.000 

740.887,100 

40,018,790 

100,000,000 

31,157,700 



1.16(.067.550 »»1.003.7a0 



Amount Outstanding. 

Total 



(85,384.500 
489,951,65(1 

S8.44S.300 
83,836,400 



Ooupon. 



169,671,200 



47,561,700 
7.931,300 



18:S,I44,8'XI 



(25,364,60(i 
569,626,750 
61,110 
100,000,000 
81,157,700 

716202,060 



DBBT ON WHICH INTBBB8T HAS OBASBO 8INCB MATDBITr. 

.fane 3D. 



:2i!,n'.'ii-t:."juSi2S'.rtTo*jia-ivri5,^.-..»^ ,.875,270 ^ 



'*£S3f MtSittr" "" '"•* ''*"*^ '^ '—^' 



(447,3(K) 00 
1,874,390 (6 



..(1,781,020 88 (1,781,690 80 



[From oar own oorrespondent,] 

London, Saturday, June 29, 1895. 
Although this is the last week of the half-year, and the 
Stock Exchange fortnightly settlement has been going on, 
money continues exceptionally cheap and abundant. There 
has been of course, as usual, a considerable outflow of coin 
and notes from the Bank of England, but it has made exceed- 
ingly little impression. Call loans remain at J^ per cent; 
the rate of discount is barely over 14 per cent, and on the 
Stock Exchange all the money required has been easily ob 
tained at from 1}^ to IJ^ per cent. 

The news regarding the Chinese loan is conflicting. It has 
been frequently stated in this correspondence that the Chi- 
nese Government had become alarmed by the demands made 
both by R ussia and France, and that the German and the 
British governments had pointed out to the Chinese minis- 
ters that a Russian guarantee would give Russia a danger- 
ously great influence over the Empire. For a while it was 
asserted both at St. Petersburg and Paris that although diffi- 
culiies were experienced the influence of Russia and France 
would prevail. But now there are rumors that Japan and 
China are drawing closer ; that the Japanese have offered to 
mitigate their terms if China will forget old grievances and 
will combine to keep Russia and France in check. From St. 
Petersburg it is reported that earnest efforts are being made 
throughout Russia to strengthen the army in Siberia and to 
increase the Russian fleet in the Pacific. At the moment 
therefore it is difficult to say just what the outcome of the 
loan negotiations will be. 

Naturally under these circumstances the silver market has 
given way somewhat, the price fluctuating during the week 
around 30>4d. per ounce. But the hope that in some way or 
other a large Chinese loan will be raised has prevented a se- 
rious break. The Eastern exchanges are all lower ; but the 
India Council continues to sell its drafts fairly well. On 
Wednesday it disposed of the whole 60 lakhs offered at Is. 
1 3-32d. per rupee. 

The feature of the stock markets this week has been a 
further great rise in all flrst-class securities. Consols have at 
one time been as high as 107?^, The securities of our munioi- 
■palities, of our leading colonies and the preference a nd de- 



JCIT 13, jS.] 



THE CHRONICLK 



57 



1894'^. 1893-4. 

4Ter. price wheat week.36t. S.'l. S3s. lid. 
Arenkge price. •«Mon..20a. 8d. 23*. Sd. 

The folluwinf; shoivs the quaatities 
aiaize atloat to the United Kingdom : 

nil wet. itOMi lottk. 

Wheat qr». 3.53."i,<HK) 3,G55.noo 

noiir. equal to qn. 348.0 >o 3:2.000 
qr». 413.000 3M3.0O0 



1892-3. 
26<i. 91. 
28a. 9d. 



1801-2. 
298. 6d. 
3ta. 2d 



of wheat, flour and 



1894. 1893. 

3,029.000 3.360,000 

343,000 384,000 

517.0O0 442,000 



BniUak Flaaaclal TIarkela— Per Cable. 

Tb daily cloaing quotatiooa for securities. &a,, at London 
are reported by cable as follows for the week ending; July 13: 



London, 



Sat. Jfm. ISm*. 



AllTar, per 01 d. 

UuDaoU. new, 2\ p. eu. 

For aoeoont 

Pi'oli ceotea (in ParU)fr. 

atob. TopL A 8. r» 

I*— a-l'" Paelne 

OkeaapeakeA Ohio 

GhM. MUw. * eu i>aal.. 

lUlaola OBDtrml 

Lake Shore _ 

LoolaTllle * NaahrUle.. 

Meileaii Oeatral 4a 

M. T. Ceattml * Hadaon 
R. T. Lake Brla A Weal. 



Wad. 



TKurt. 



m. 



30<8 30<>B soon 30*|. 
107S,g "IOT',8 107»,g llOl*,, 
107% lOT"* 107»g 1107" 
02 374 03'42'a lO'i-ii 



benture stocks of the fnreat railway oompanies have all risen 
also; so bare water and gas shares. These prices are now so 
exceptionally high that the imprea«ion on tbe Stock Ezcbaoge 
is almost uoivenal that investment must spread from the 
higher to the lower i Isiisis of securities, and that therefore a 
great broadening of bostaeas is about to begin. The ordinary 
■locks of Britiah railways have likewise advanced, partly [ 
under the influence of tbe exuaordinary cheapoeaa of money, 
partly in tbe belief that trade is improving and partly because 
it is expected that traffics will benefit from the coming Gen- 
eral Election. 

In tbe American department, especially the department for ' 
shares, there has noC been much doing during the week. The 
anLounc«ment that the loan syndicate has completed its pay- 
ments to tbe Treasury has awakened some anxiety lest the 
support of the Syndicate should be withdrawn from the New I 
York money maiket, and gold withdrawals, therefore, from 
the Treasury should begin agaii. But tbe belief is that such 
apprehensions are gruundleas, and therefore there is a fair 
investment in sound bonds. And there ia even little inclina- 
tion to sell shares. Were it not for uncertainty respecting 
currency legislation, there would undoubtedly be a great 
investment in American securities now, for people here are at 
their wiu' ends to Hod securities which are at once reasonably 
safe and give a eatiafaclory return. 

In the inier-booiae department little baa been done. In Paris 
the market for both Italian and Spanish securities has been 
rather weak, and tbe reported defeat of tbe loan negotUtions I tfommevrt^l »Ud B^tSCelUltteOUS ^etOS 
has cast somewhat of a damper over tbe market, while it has . 



■srtsU * Wast*B. pref . 
Sonbera Paeifle. piraf.. 

Peaasylvaala « 

PkuTiBaad.. parahare 
aootben Hj., eom.» 
pctfd 



ttef. 



10 


10 


Sells 


68>« 


S3 


23 


70 


70 >t 


99 >s 


99% 



59', 
87 ». 
104% 
lOH 
89 



17H 
5S>a 

It's 

4a >• 

IS 
S0l« 



10«% 
10% 



18 
»S>S 
9H 
14% 
44% 
IS 
t0>a 



10 <4 
&9% 
23 
70% 
100% 



80% 

88% 

104% 

io% 

6» 



18% 
58% 
10 
14% 

44% 
13% 

tO>4 



10'3'sl) 
10% 
59% 
23 
70% 

101 



30% 

107U,g 

107% 

02-22% 
10% 
&8% 



61% 

68% 

104% 

10% 



18% 
5&% 
9% 
IS 
44% 
13% 
20 



30% 
l07»u 
107% 
u2-2a% 

10% 

37% 



70% 
101% 



61% 
t8% 
X103% 
lu'a 
69 



9% 
14»s 
44% 
13% 



70% 
101 



60% 



108% 
10% 
69 



18% 
SS's 
9% 
14% 
44% 
18% 

au 



given rise to a fear that political difficuliiee may arise with 
both China and Japan. That war will be avoided la tbe gen- 
eral belief, but that a critical slate of things m^ arise Is ap- 
prcheoded. There ie some nneeainass, loo, respecting tbe 
Armeaiaa and the Maocdooian qitestiooe, the change of min 
isiry here enoooraging the Turkish Oorcraasent to hope that 
it will be treated more leniently by tbe new Cabinet than by ! 
tbe ouicoing minis era. Still, nobody fears war. AU the I 
great goremmcnts are interteted ia maintaining pence and < 
every one, therefore, ooDoluiee that peace will be prceerved. 

In tbe South African department a fair amount of boaineee , 
has been done during the week. There is not the wild speou- 1 
lation of a couple of saontha ago, bat then is Taty steady [ 
buying. especially from the Continent French baying ie not I 
quiie so large pcrtiapa, but Oermaa and Aoslfian baying ia | 
d*«idedly larger, and there is » ««n—>A»«kU .a,^.^.^ gf baying j 
likewise in this country. The result Is a stsnJy rise in almost , 
all prices. That tbe Oeoeral EiecUoo may somewhat check 
business is very likely, ss it will lake away great numbers of ' 
people from the city; and especially now that the holiday sea- ' 
son is upon us is it tlie more reasonable to expect quiet mar 
keu for a while. But throughout the Stock Esobange and in 
Paris and Berlin there is a very confident opinion expreased 
that aojut \h« vwi of the SMsame r haslnses will grow more ac- 
tive even than it baa been as yes, and ttmi then will be a still 
further and more reinatkat>le rise is |mnn. 

Ibe (ullowtnK return shows the pusttMNi of the Bank of 
England, the tUak rate uf diacouat, tae prios of consols, Ac. 
compered wiUi the last ttarse yaais: 



IMPOBS ASTD EXPOBTS WOH TBt Wsuc— The following are 

thn imports at New York for the week ending for dry goods 

July 4 and for the week ^^'■sg fur gaoeral merchandise 

July S ; also totals sinoe the beginning of tbe first week ia 

January. 

roaaioa wpokts 4T saw roax. 



Ikr Wtk, 



isva. 



1893. 



OfjOeoda.. 

Osal BsCdlaa. 



TStaL 
tkmJm 
Orrusada. 
tfaat Bec'«lss. 



.1. 



iMairr 



ta.»8S,- S6 
»,5a7.W7 



•lS,ia3.S83 

•«3,ao».St3 
aa4/M>4.i7s 

tW7^M^ 



n .613.947 
,S49,i03 



1894. 



1898. 



•1,121,097, 
6.718,334' 



•a.l-)3.tSS 
&.'i39,284 



•13.«63,S80 

M»,13A,t63 
a41.4«4.»71 



•733S,435 97,522,737 



Ma.774. , 
17«,98s,0UO 



»aaa.768.iS4 



.144 

Mm 



•76.497,037 
191,249,168 



lfH67.74 e.198 

Tbe imports of dry goods for one week later will be found 
ta our report of the dry goods trade. 
The following is a statemsnt of the exports (exolosive of 
from the port of New York to foreign ports for th e 
ending July 9 and from January 1 to date : 
roaa roa ras wasa. 



l*»l. 



itn. 



1894. 



1898 



•T.7a3.4«9 

ao4.4S*,7as' 



? 8.791,342 
6, 



157,804 

Hia.3»a.ai4'<i8 1 jilT^Ie 



#6,188,536 
li7.3«i,42S 

«iea,780.96l 



r« 

SI- 
S' ' 

s- 



StOMJSS 



-wNMa......... ULSS1.1SI laJSUMS 



SlJaSiSS 
II 

si,ssi,a<7 

SM«TJS« 
■■'fitm'U •7.asa.4S* 
iiuaa..».a <t<( 



IW4 
Ku r 

s 

a«M.a 



lasa. 

a 



Tjrsias* 

HJtS^S 

ILSSa^lT 
SAjSMiMS 

iajM4na 
aouis.oue 



— a n ts. SV sar < 



teii-is 



asvsn.tst 

SS.SI47SS 

VHi 

t « 

I0T)4 tot *-i« 

aurar WS-Md. WftH. 

Oaanw iio«M rM<ra< Ul.MS.gee «s.lti,iiM ia««70,«M 

The roll<.>wing shows the imports of cereal produce into the 
Uoited Kingdom during the first fortythree weeks of tbe 
in corn pared wjtn previous 

iM roars. 



Junj r> 

SS.«wi.a«o 
T.srs.te* 
>t.;.T;,iSi 
ii.*M.ssa 
s«,asa.>«a 
tT>;s,«ir; 
tijsia.S4r 
«; MS 
t 

M»-l« 

ihta. 

lO^MS.O'O 



•4,899,987 
173.185,184 

fl78.085.181 

The following table shows the exports and imports of specie 
•ft tbe pott of New York for tbe week ending July 6 and 
I slnoe Janoary 1. 1890, and for the corresponding periods in 
leM and IMS : 

ax Fo a ts Alto xHPoan or sraon at asw roaa. 



MtporU. 



I 



ImporU, 



Wmk. 



Biaat Brttala. 



ar...- 

West lailss. 
Mauao 



liBpnrtaol Ta«a(.< 
•arter 



IiMM-S. 



M93-4. 



RS: 



i»e3-a. 

'. -'0.118 

.249 

a.l4J.u01 
84.374.174 
l7.a«S.dSl 



lflSl-2 

55.172.71^ 
l.'>.l-< ,110 
li.o, -1.11.1 
.i.J-Z,Jl7 
3.J7H.>ltll 
23.J'K,iU 
IS,40'i,731« 



I Other eooatilBa. 

Tstal 1998 , 

Total 1S»« 

Total 18S3 



•,900 

io^doo 



/an. 1.1 



ITasA. 



«iiMS/ais.X 



•8.oeo.7«8 

12,1*3.;. <tO 



SU:!.354 
261,48^: 



120,617 

817 

3.176 

1.36U 



$14,780,1 3» 

4,eo:<,988 

1,827,1111 

383,627 

33,U21 

221,676 

60.810 



•136.aOO'•34..')<40..^42 

3.21.^,8001 69,797.674 

a,UO0l 6'«,a74,478 



•125,000 •21,310,482 
1,121,5361 10,1163,215 
1,181,51 5 7 .098,988 



Oteat Brttala., 
Praaeo. 



.... ... I '. .X'.ttl.b'^t 

:< i.3««,*5l 

> 21. . . .i4.Siti.s68 

- le,-J3O^70 !».•••.••; 

Bepplias available for ooosamptlon (ezdaslve of stocks on 
September 1): 

_. , _ . ><>B44k l»«»-4. !•»•-> 1891-3 

wkaa«ISBports4.nrt.»9.M<r3V9 Sf,8S9,i>e4 50.730.1H 55.472.799 

laportaar Soar ... i70 I5.SA3.9j7 n.IOl.H'^l 16.402,7<l9 

ioraoa»gro« :14 18,»'i7,OI5 a3.iOo,47» 37.383.2^2 

Total.... »M3k.034 •8.A8a.976 91.153,474 '••,460,759 



cieraiaaT 

Wast taaiaa. 



Soaui America 

AU otker oouotrlaa. 



Total 1899. 
Total 1894. 
Total 1893. 



ITss*. |JlbMs/aft.l, 



••93.100 



32.000 

49.0M 
335 



f0«3.aS5 

4fl9.700 

1,061,070 



•17,264.338 



13,485 

122.406 

399 

642.143 

18,843 



Ifssic. 



•18,061.203 
18,2111.489 
15.7J«',128 



•3.118 
l.ttl5 

63,335 
1,811 



•68,879 

3,970 

39.M84 



Mnes/oit. 1. 



•49,246 

3,864 

3,M09 

174,721 

303.879 

367,687 

17,366 

"•922.072 

826,673 

3.130.814 



Of the above imports for tbe week 
American gold coin and $71 Amnricnn 
•xporu during tbe sams time $1»,0U0 
eoin. 



in 18tfS $1,800 were 
silver coin. Of tbe 
were American gold 



58 



THE CHRONICLE. 



[Vol. T.XT. 



BrMtdalnir* riKurea Broocbt From P««e r9.-lQe 
ttiitrr— '- below are prepared by us from the figures ot the 
Haw York Produce Exchanne. We arst give the receipts at 
W«st«m lake and rWer ports, arranged so as to present the 
OomparatiTe movemeot for the week ending July 6. IS 5, 
Hkd dnoe AuKUst 1, for each of the last three vears: 

Bum i>". 
3.7«8 





flMtr. 
MbU.\9Kat 


ITkMt. 


Com. 


Ot*. 


Borln. 
Sl«M8l^ 


~ 


iitiik.ao(te 


tuOiJStU- 


OkMMO ... 


noM 


M,tM 


M»,S''& 


1.8(3.887 


68,800 


MllwkokMu. 


9t.TS0 


M0-.O 


lf»0 


1««.000 


81.80 > 


Oaloth. 


u,aw> 


S4H.0O* 




4»«» 





MlnncapoUi. 




876.070 


17.S40 






»ol«4o 


7»7 


T.SOO 


Sl,« 


4000 


8,0(0 


OMnrit 


i.:eo 


fcM» 


18.173 


87 845 


1,800 


OaraUiUU. 


4S1 


81,18} 


8.M0 


la.SAI 




■LUMla... 


MM 


1M.80J 


68.880 


188.000 






MW 


8.400 


14»,e60 


SSI, 660 


700 






8.188 









Tot.wk.»& 


134.«6 


»»S«,785 


7P2.C.')7 


8.191 076 


79.1(0 


■■■• wk.-M. 


IIV.IDI 


tOS.Ili 


183.184 


&I9.668 


41,500 


■•■• wk.-M. 


tUU6' 


i,iie.si3 


2,«60.(09 


1.79«.e30 


84,809 


•IM< JMf.L 












US4-M,... 


ii.«)s.»a 


III.SI 8,700 


77.0}».»57 


»».862,308 


81,873,981 


UM-M.... 


lil.0(«.l8S 


14^7S4,7I» 


146.401.1M 


114,754.771 


88,388,330 


lamm.... 


ULaM.4ia 


t8S,«80,»37 


12l,«Ji7,086 


11S,0W3SB 


89,333,487 



1.9C0 



2,968 
1,800 

2^763 
8.353 
18,885 

2,6C 6.185 
3.358 098 
7,lu3,490 



The receipts of flour and grain at the seaboard ports for t> e 
week ended July 6, 1895, foUow: 



Flmtr, Wheat, 

6Nj. bruit. 

101,136 3.7(0 

88.760 71.702 

««.5a» 87.^.609 

^^JlilphU;; S.'.aW 18.472 

ftfitlmor*. 4P.A>'6 87.;09 

Bichmood. 8.^oa 14J80 

ItowOrlMu..^ 5.8J1 1.3oO 



StutpUat— 

Itow Tork- 

■pMoo. 

MoaUMl. 
fWtodali- 



Toul WMk... 
WMk 1804 



886.341 107.118 
875,476 l,2e7.3l!» 



Oerf, 
biuk. 
475,7:5 
863 ^49 
8U.000 
11,712 
49.7S0 
1.070 
13,863 

895,399 
767.916 



OaU, 

ItUMh. 
146.100 
l*'.l>«!0 
15348 
S>4.708 
100,988 
2,666 
19.800 

A'^aOOt 
789,139 



Barley- 
buth. 



bu*h. 



■■ 7,161 




v.v.v. 


t65 



7.1SI 
8.100 



8H6 
28.166 



The t^tal receipts at ports named in last table from Jan, 1 
to July (i compare as follows for four years 

floor 

irtaMt 

Sjta 

KrMT 

«T»- 



■bblt. 



1896. 
8,083,878 



.buh. 15,418,019 

19,746.806 

19,6<«,687 

1,S1«,570 

189,123 




1898. 

9,390,799 

38.U0'I396 
8H..S8G.9I0 
23.30>.5IS 
2,rt68,646 
716.0SS 



18»« 
9.t:6,48S 

60,5'4.683 

61916,848 

27,155,615 

3,005 1«8 

2,560,801 



ToUlitrKlo 66,479,304 68.813,785 91.956,067 145,168,35} 

The exports from the several seaboard ports for the wee^ 
•nding July 6, 1895, are shown in the annexed statement; 



Wtuat. 
MxtorUtnm— bvnh. 

Maw Tork 310.183 

■qMod 116.887 

rwtiaad. 

Pklladclphla 84,000 

laltlmora- 120,000 

Kwm Orl«Aiui. 

Morfolk 

ll«wportN«wt 

MonUMl 110,410 

ToUIWMk 689.480 

■•m* tim* 1894 VU4,341 



Oon, 
Inult. 
169,731 
161.601 

'ib'ooo 

184,886 
300 



flour, 
Mb. 
76,618 
86.818 

■"6.887 

37,413 

1,806 



OaU, 
buah, 

8,775 



Ryt. 

bruh. 



Peo!. 

but' 
6,169 



86,170 82,350 



1-9,751 
816,8^1 



6OA067 
898.992 



8 841 
3,657 



26,720 



31,189 
55, 06 



The destination of these exports for the 
Sept, 1, 1894, is ab U-low. We add the totals 
ponding periods of last year for comparison: 



. Iter 
«M«k ofMt (inc* 
8«»t.lta- 
OnltaO Klnsdom 

Oonttoant 

|.*C. Amertea.. 

WotlDdlM 

Bnt. N. A. Col'4. 
Other 00 un tries.. 



WUntr. s 

Wok Since Sevt. 
U 1894. 



Jul\i 6. 
tiAlj. 

184. ses 

24.5:8 

If.102 

81,844 

1.J68 

1,878 



bble. 
7.313 762 
l,liiC,930 
l.l'8:2,lia 
l,053,a<9 

366,685 
8il,»68 



Wtuat.- , 

Week 9inee Sept. 
Julu 6. 1, 1894, 
buih. 6tul>. 
4l>.548 87.180 612 
870,872 12,914.203 

211.868 

8,1*04 

8.870 

137,057 



week and since 
for the corres- 

-Oom.- 



Week ainee Sept 

Julu 6, • 

ttueh. 

89S,212 

88,692 

690 

16,144 

"iVs'si 



1. 1894. 

6U4'1. 

16.8114.807 

6,941.087 

lo7387 

603.0.0 

11^331 

35.8 3 



Total .. „ 18«.T«e 10.9Se.r06 

total 1894 tlOOMl 11,«0;,690 



6^9 480 40.811601 
904,341 44,941^281 



602,067 84,047.878 
8»l«,998 49.39k,35u 

The visible supply of grain, comprising the stocks in granary 
at the principal points of accumulation at lake and seaboard 
ports, July 6, 1895, was as follows: 



Wheat, 
Inturemir- buek. 

■•« Tork 8,7«8,000 

Do afloat 30.000 

ftlbany 
•SUo 1,196,000 

Do afloat 

Okleaao 17,187,000 

Do afloat 

MUwankaa 8>6,000 

Do afloat 

Oamtk 7,6SP,a00 

Do afloat 

Totodo 868,000 

Ootralt 1(77,000 

9**W0 8,000 

•t. Unila 146.000 

Do afloal 

WOO 

188,000 

> tC^OOO 

, 896,000 

klladatphia. 160,000 

""■ 81,000 

apoll* lia,00« 

■ ntr M,ooo 

176,000 

.paaf".;;:"""-":*:?!:^ 

. iMIWIMlppI BITOT. 

Oa Lakaa- 911.000 

VBoanaluidriTar.. 19/,a00 

Total J"lTe,lNI>6..48,>69,000 
TotaJ JooaM. 1806.44,6' 1,000 
Total Jul77 IMM.. (4.116,000 
Total Jul J 6, l)W8.el 88l>,l.00 
Total jBlj », 18011.83,184,000 



OOm, 

btuh. 

089,000 
17,000 
18,000 

ai>6.000 



OaU. 
buth. 
1,614,000 
88,0<>0 
7o.roo 
679,000 



8,476,iM0 1,860.0C0 



buth. 

13,000 



34.000 

"idbo 



Barlty 
buth. 
6,000 



27,000 



13,*00 
■ 1,01)6 



2C6.000 


36.000 


ii,roo 


126.000 


22.000 


4,uOO 


6,100 






647,000 


108.000 




80.000 


77.000 


"ioob 


97,000 


6.000 
1!8.000 




J-SS2 


807,000 


4,000 


eoiOM 


164.000 




66,000 


388.1100 




67,000 


6\ooa 


'* 


,06,000 


04.000 


8,000 


173,000 


106.000 


0,000 


6,000 


79,000 

'io.6(>o 




1,163,000 


« 86,000 




766,000 


188,000 




7,811,000 


O886.000 


148 000 


0,l>6&,000 


7.018. 40 


146,000 


6,877,000 


8.817,000 


881,000 


8,634,000 


3.0ln,i>00 


8H8,iiOO 


1063,000 


6,468,000 


837.000 



1,00(^ 
9,000 



1,000 



10.000 




—The Northern Pacific & Montana RR. Co. Bondholders'' 
Committee, George R. Sheldon, Chairman, announces that out 
of the $5,631,000 first mortgage bonds listed on the New York 
Stock Exchange, S-3,97a.OOO have been deposited with the 
Knickerbocker Trust Co. under the agreement of November 
86, 1894, and the Trust Company's certificates of deposit for 
the sime amount have also been listed, with power to add to 
the list as issued. Outstanding bonds will be received by 
the Trust Company without penalty until August 1, after 
which $10 a bond will be required for the privilege of de- 
positing. 

—Mr. F. J. Lisman, 10 Wall Street, has just issued his July 
list of quotations for unlisted and inactive railroad bonds and 
receivers' certificates, and has added to this issue a fable of 
railroad bridge securities, Mr. Lisman oflfers to quote any 
railroad bond possible to quote, and invites inquiries and cor- 
respondence. 

City Railroad Secaritles— Brokers' Quotations. 



Atlan. Ave., B'klyn— 
Con, 68, g., 1981 .AAO 
Irapt.SK, g., ie34..J&J 

BleeS. St. & Pal.F.-Sik. 
Istmort., 78, 1900-J&J 

B'wayATtn Ave.— Stock. 
lat mort., ea, 1904 . J<£D 
3d mort., 68, 1914.JdtJ 
B'way l8t,S8,gaar.l924 
3il Sd.lnt.as rent'1.1905 
Consul 58, 1943...J&U 

Brooklyn City-Stock... 
Ooiiaol. 5«, 1941. ..J&J 
Bklyn.Crosst'n 58. l90Si 
Bkl'n.Q'nsCo.&Sub.lat 

Bklyu.C.AN'wt'wn— stk 
5p, 1939 

Brookiyu Traction 

Preferred 

Central Cro88town~Stk. 
l^t M.,68,1922...M&^• 
Cen.Pk. N.AE.Rlv.— Stk. 
CODBOI. 78, 1902.. .J&D 

ClMsfpTA 10th St— Stk. 
let mort..]898 ...A«0 



Bid. Ask. 



107 

85 
39 

;iio>« 

197 

9108 

}l09 

4112 

{104 
1134 
182 Hi' 
lll>«i 
;05 

no2 

200 
lOBki 

18 I 

65 
185 
5118 
163 ■>! 
,{114 
ISO 
lOS 



110 ' 

I 

31 
112S> 
201 
108 
112 

ibe" 

112\ 
1S3>. 
( 

idi" 



Bid. Ask. 



109 
19 
67 

200 



166 
118 
156 
108 



Colnmljus & 9th Ave. 5n. 110>4 
D. D. K. B. 4 Bat'y— Stk. 175 

l8t,f(old, 6s, 1932.J.&D 114^ 

Scrip JlOSit 

ElghtnAvenne— Stock... 326 

Scrip. 6e, »914 103 

|42d& Ot. St. For.— Stock 305 
42d8t.&Mall.<S8t.N.Av. B7S 

istmort. 68, 1»10.M*S.{116 
! 2dmort.liicome6s.JdkJ j 68 

j Long iBlanc) Traction I 9't 

lLe:».Ave.APav. Ferry 58.1 liO># 
Metropolitan Traction . . 101 1^ 
Nintli Avenue— Stock...! 150 
Second Avenue— Stock-, i 153 

l8tmort.,58,1909.M<tN 108 

Debentare 68,190)). J&J 103 

Si^th Avenue — stock 

Thiia Avenue— Stock... 182 

1st mort., 5b, 1937. J<feJ 119 
Tirenty-Thlrd St.— St'k. 300 

Deb. 68. 1903 ' 100 

Union By— Stock i 104 

l8t6s, 1942 {104 H) 

Westchest'r, l»t,Kii.,5s. jlOO 



110>» 

177 

116 

105 

360 

315" 

61 
116 

61 
9V 
llOSi 
102 
166 
159 
109^ 
104 >« 
213>« 
183 



106 



106 
103 



i And accrued interest. 

Has Securities — Brokers' Quotations. 



SAS COMPANIES. 


Bid. 


Ask.i 

idb" 


GAS COMPANIES. 


Bid. 


Ask. 


Brooklyn Qas-Llgtit 

Central 


l.'»2 
150 

88 
100 

66 
180 
108 
172 
220 
100 

92 1« 

65 1 

31 

76 H 


People's (Brooklyn). ... 
Peonleft' (Jeraev Cltv) 


93 
170 
175 
205 
lOS 
175 
105 
194 
106 
105 

64 

63 
»94>» 


175" 


Consumers' (Jersey City). 


92 M etropolitan (Brooklyn) . 





i.itliei.8' (Brooklyn) 

Jersey City 4 Hoboken.. 

M etropoUtan— Bonds 

MntualtN. Y 


iP 


lat 68 


108 








197 


Nassan (Brooklyn) 

Scrip 

N. Y A gast Riv lat Sa 


Bonds, 68, 1899 




Standard prel 


107 V 
66>a 


Preferred 


57 


Western (Jas..... ....... 


65^ 
6S 


Consoles 







§ And accrued Interest. 



Auction Sales. — Among other securities the following, not 
regularly dealt in at the Board, were recently sold at auction : 
By Messrs. R. V. Harnett & Co.: 

IOl) shares Durant Land Improvement Company, $1S,000, 



By Messrs, Adrian H. Muller 

Bonds. 
$200 City of Musoatlne, la. 

Redemption and Renewal 

6s. i8a8. A&O 101 

$ I .' Gin. Rich & Ft Wayne 

RR.l8t.guar.78,l -.il.J&U 119 
«l,0O0CityofN. Y. City Park 

Imp. 78, 1903. M&N..124<tint. 
S9, 00 Blrm. Sheff. & Tenn, 

River Ry. 1st mort, bonds, 

1929, April, 1891, coup. ou. 5 
$2,000 Suburban Tract. Co. 

Cons. 1st ba, S. F., 1923. 

J<bD. Deo., 1-94, coup. on.. 26 
$1,0 Phoenix Cons. Gold 

MiDin,; CO. Ist, 6a, 1898. 

May, 1894, coupons oii.$lSO lot 



& Son: 

SKares. 

168 Matteawan MTk Co 25 

10 S.Y.&S. J. Bridge CoDst 

Co. *5o each *^ 50 rersh. 

10 Hamilton Trust Co. ot 

Brooklyn 190>« 

12 Brooklyn Trust Co 400 

50 Central Nat'l Bank 1 17>« 

72 LehiKh Vail y RK. Co. 7438 
2 Second Ave. KR. Co ...ISSH 
1,100 Santa Clara Lumber 

Co «15,200 

60 Minerva Land Co. $50 

each $15 per sb. 



Samuel D. Davis a Co., 

BANKERS, 

no. 40 wall st., new ¥ork. 

Samoel D. Davis. Chas. B. Van Nostrand- 



Spencer Trask. & Co., 

BANKERS, 

27 4c 29 PINE STREET, - • NEIV ¥OBK. 

65 State Street, Albany. 
INVESTMENT SECURITIES 



GIOBOB BABOLAV MorFAT. 



ALKXANDSB M. WHIT^ B. 



455,0«0' 



Moffat & AA^hite, 

BANKERS, 
SO PINE STREET - - NBIV KORl 

INVESTMENT SECURITIES. 



July 13, 1895.1 



THE CHRONICLE. 



69 



Jhe ganlicrs' C5a?ette. 



DI%'IDENDS 



I of Compa»w. 



Itallr»a4la. 

Boatoa A ]lilD«r-<n). (aaar.)... 
Ooonertlcut « Pauumpcle Rivers 
Hant. A B'd Top Mt. RR.* Coal. 

MUl Ork. A SIlDA Ulll N*t A RR'. 

Mt. Carbon * Port Carbon 

Sobarlkill V<ll«y Kar. A KR.... 

Toledo A Obin Cent. prcf. («iiar.) 

Banka. 

'Oui*eToon 

Plre laanram**. 

Bioadwar ..l 

Oaatlaeatal. 

FknacBL 

KlBfs ObaiitT (BraokiVa) '..'.'.'.... 



KlanO 
PaMe. 



■laeallaaaaaa. 

Brookln City KR 

OaMmboa StrMCt Rj 

ealreMoanir RR 

- ■ 1 Bridca.. 



Palladahkia (»apaar (aoir.l . 
Caltad rfalaa LaaSar > tt.... 




coop. 1907 at 113 (8.3); $6.300 44, r^irister^d, 1937, at 113>^: 
$20,000 53, coupon, at 116^.^, and $10,030 5i, regnterad. at 
116^. The foUowioft are tbe closing quotations : 



inltml 


/nty July 


Julu 


July 


July 


July 


rtriodt 


6. 8 


9. 


10. 


11. 


la" 


Sflf ***■* •••■•> .roff. V 


L-Moh. 


• 94>« • Pe>t* 961* 


* 96»« 


• 9fli« 


* 97 


4a, 1907 r<w. C 


,-J»n. 


•U2 -112 ll2^ 


•112 


112> 


•112 


4a, 1907...... ."oap. (, 


.-Jan. 


-^^2^ iia -U2'« 


•112>» 


*112<« 


*112>i 


4a. 1925 ree. C 


.-Feb. 


•123^*124 MM 


•124 


•124 


•124 


4*. 1986 coup. C 


.-Feb. 


•m* 124 1-124 


124 N. 


•121 


•124 


Ba, 1904 re<. ( 


.-Feb. 


•ll6i« •H6i«*ll6i« 


•116>» 


116H 


•116>« 


Sa, 1904 coup. ( 


,-Feb. 


•lie". •116't! ii8\ 


•US'* 


116% 


•116>t 


6s. onr'cy '96. .rag. J. A J. 


•100 •100 rioo 


•100 


•100 


•lOO 


ea. onr'oy,'9«...r6H. J. A J 


•101 •lOl *101 


•101 


•101 


•101 


a*, oar'oj','97. .mt.J A J 


•103 -103 /lOS 


•lOi 


•103 


•103 


ea, onr'oj,'9e...r^.lJ. A J 


•10» '105 •105 


•105 


•105 


•105 


6a, oor'eT,'9P...raf. 


J. A i. 


•10^ •108 ,'108 


•108 


•103 


•108 


4*. (Cber.)1896.ret(. 


March. 


•100\ '100^ •10.')% 


•10 >\ 


-100% 


•100% 


4*. (Cb»r.)1897.re«. 


Marob. 


•100\*100\*100\ 


•I00\ 


•100% *100% 


4*. (Cber.)1898.reit. 


Harob. 


•100V100%*100^ 


•100% 


*100^'-100% 


4i. lChar.)1899.reir. 


March. 


•100\ -100^ 


•100* 


•100\ 


100% 


'100% 



* TbU U the prioa bl<l iti thi.< moraiaic no^trJ, no tale w u m ila. 

Calto4 SUtM Sab-Xreuary.— The folloiring table sbova 
icoeipts and payments at the Sub-Treasorr. 



• Oa aaaooat of aeeaanlatetf dln<tea4<. 

WAI.L8TRRST. FRIDAY, JILY Vi. I893.-3 F. .M. 

Tke Moner Market aad Financial Sitaatlon.— The de- 
Talapmeata of th« week ao far as they affect oommeroial 
and fliiAnrial intercats are mierally of a farormble character. 

The meeting of the BeulaK Reorganisation Committee on 
Holiday, at which Mr. J. P. Morgan was present, anoonrages 
the hope that the loog-desired set t lem e nt of the anthracite 
coal diffiooltlea la aoon to be rekllaad. 

There haa been nothing further heard about gold exporto 
since the annooncemeat on Toaadar by leading membeia of 
the Bood Syndicato that no gold will be shipped to Europe on 
eirohange aoooant before Ootober I. 

The sale on Tuesday of the New York ft New England RR. 
oadarforeeloeareprooeadiai^to the Reomaiaatlon Commit- 
tee ia the final act. axoaptsoaM mattera of detail, in the reha>>- 
Uitation of that ooapaay, and future daralopaanta in re- 
card to it will be looked for irth tateraal. 

The earning* of soena railroada iriiloh hava been slowest to 
respond to the improred ooDdltiooa are now reported more 
fsTorable, and if the prwwat crop pro^ieato are realised will 
soon reach the normal amount. 

The opea market rates for call loans daring the week on 
stock aad bond collaterals hare ranged from 1 to 1^ per 
cent. To-day's rates on call were I to 1^ per cent. Prime 
commercial paper is quoted at 8 to S3i par oant. 

The Bank of Kngtand weekly swMaMU oo Tbursdar 
•howed a decrease in bollioa of £4n,nt, aad the perc«ntaKe 
of reserve to liabilities was M-Ot anaiast 9t*47, last wc^k: the 
discount rate remeias nnebanged at S per oaat. The Bank of 
France shows a dserease of 8,379.000 francs ia goU and 
an increase of 075.000 fraaos ia rilrer. 

The Nrw York Chy CUariagHoaaa banks ia thair statement 
of July n showed a dsorsaee a the raaarva held of n.l98.- 
000 aad a Mrploa over the l a q i ili e d r eet r re of t8},178.700 
acainat t84jHB,ttS the prerions week. 




Mtanru- FsymaitM. 



Batantu 



Ooin. OoiM Owl't.l Ourmtg. 



t 
3,l&8j;6 
3.6S7,79>: 
3,923.4^81 
S.784.499i 
4.014.(48' 
8,37 1,897 



• ' a I 

2,843,638 101.016,230 
2,130,740 103,700,084: 
4,518,795 103,336,1^0 
>,-«.'lO,968 103,130.269! 
4.<l9l,050)0i,867,775! 
8,%36,3ll 102,675,161 



1.08^,804 
1,0^0.940 
1.112,275 
1,2»V,36S 
1,375,329 
1.821,041 



64,53^,035 
66,278,198 
66.0-10,360 
e\948,683 
65,538,510 
65,&<0,4S7 



Trtal 19.68''.g21 20.«t34.60J 



Golaa. — Following are current quotations in gold for coins: 



BoTCfalsBa. 
Iti B o l naa* . 
X taalahi 
36 



f4 90 

8 90 

4 74 
4 80 



• 8 95 

• 4 83 
a 4 88 

• 18 75 

• 16 76 



Fine ullver bar*... — 67 • — 69 

Five friiuin —00 •— 93 

Mexican aoUan.. - 63>ae — 64ls 

Oo aaeom'alal.. » 

ParnTlaa loU —49 a— 68 

Bncllab illrer ... 4 83 • 4 93 

U. 3. trade dolUm — 55 • — 75 



OsfHal 

BwylM 

LsaasAaiatTata. 
Oksalsliee .. 
lM4s»oMa 
•paata. 



laee 
July e. 

•Mlt.Tg 

73,»0t.7«0 
»18,a04.'~ 



TOOIse 



if.tS4joaoa>as. 

S«a37>,M0^ea. 

64,49«,A0O' 
110,146,900 



'T«Z 



li<,40C 
U.000 
6«8, ■ 

bae. 784,900 
Da«.i,45a,l00 



174348,600 Dae.3,19S,0OO 
t43,4eS,S00l5M. 140,775 



isa4. 

Jm4y 7. 



< 1. 688,700 
78.146.900 

ioo^*a«.aea,aoo 



91.928.000 
188,001.800 

8l9.384,<0e 

147,149.676 



1908. 
J»h •■ 



a0,439,700 

71.694.800 

418.688.900 

6,71«.800 

*ae.e79.30o 

61.703.700 
33,884.100 

94.687.800 

9a.a6e33» 



78.184,7^ Df 5083,036 



Jt S M I H I 

fcrplaaraasfral a8.1787700lDa< 8,C6a.336r 

Forein Exakuifa.— Thara are no now faaturaa in the for- 
eign oxahaage marltet. The demand haa beea met largely 
ar bills drawn by Syadioato banker* aad rates hare ruled tlie 
gbest of the ssasoa. 

To-day aotaal rataa of axohaam wars aa follows : Banker*' 
sixty days sCcrling, 48094Mii: dsoMUd, 4 9094 9<Ji«: ca- 
bles, 4 90)^. 
roated rate* of leading bankef* are as follow* : 



Baaa. Dsafelooa*. 16 60 
Mas. I>oalilooo«.16 60 
flaa cold bar* — par •*( pram. 

Stat* aad Railroad Bond*.— Sales of Sute bonds at the 
Board include 985.800 Tenn. Settlement ii at ><8W to 91; 
810,000 So. OaroUaa Sa, non-fundable. at P4 : $10,000 Virginia 
State Riddlebergen at 75; $90,000 Virginia fls, defd,. trust 
nets., stamped, at 9hii tl.OOO VirginU fund, debt 3-8s of 
1091. at 09; tl9,U00 ditto rMiatered at S9i, to 02^. and $37.- 
000 Arkansas 7*. L. K. P. B. ft N. O., at » to 0, 

The characteristics of the raUroad bond market have been 
thoee natural to a mid-summer holiday season. 

The Reading issues, in sympathy with the stock, have 
been the moot active on the lint, but changes in quotations 
are unimixwlant except eoiue advance in the gen, 4a trust 
rtota. There hae becM a notable n.ovement of fne Atchiaona, 
following an announcement made by the reorgani/.ation com- 
mittee and the Ooveminent crop report, and Uie 'ida have ad- 
vanced over a point. Oregon Imp. con. Ss are nearly two 
points higher than last week on liberal .sales. 

Hio Or. Western UU and St. Louis 80. We«t. IsU have ad- 
vanced from I to 2 point", presumably on the increased eam- 
nings aad better prospect* of the companies. Sav. ft West, 
let tnist certificates have advanocl to-day 2^ points to 68. 
OB the announ jwnent of an agreement with the Central of 
QaoKia. 

OtGar active iasam include .Southern Ry., Tex. ft Pac., S. 
A. ft ▲. Pass., Or. Short Line «s. Mo. Kan ft Tex., Col. Mid- 
land 4a and Ches. ft Ohio bomls. 

EaOiaad and Miseellaaeooa Stoeka.— The stodc aiarkaft 
has bosB aomewhat irregular and in some oasee unsatisfactotj. 
There haa been a demaad for railroad share* whoae market 
valoa ia not aSooted by the manipulation of rooni-tradera, and 
aneh 8to<Aa have been strong. 

BaadhiK haa beea moat amve of the railroad list, stimu- 
lated no OMMibt by the poesibility of a spoedy reorKaiii7.ation 
aad some prospect of a settlement of the anthracite coal difli- 
culties ; it sola on Tuesday at 90 and at 17 >« on Wednesday, 
oloalnf to-day at 18^. Cent, of N. J, sold at 104k' on Monday, 
the highest point reached since last Ootober, and closes at 109, 
whQe DeL A. Hud. Canal and Lackawanna have been steady 
on limited offerings. The grangera have been generally steady 
and firm on the »vorable condition of the growing crope. 
Both St Paul and Burlington ft Quincy touched the highest 
quotation of the year on Wednesdar. Southwestern snarea 
nave aiao been strong, Ma Kan. ft Tex. pfd. K-lllng up to 80, 



July 12. 




laatfes) b-kaiir 



4 89ise4 90 
4 88'«04 88% 
4 88 04 88l« 
6l6>|«a»16S 
40»ii*40H 
96>M— »S 



4 90iaOi 91 



513%05 131|« 
4O1,«*40>a 
961*,, 096 



_The foUowing were the rates of domsatic asohange on New 

^ — ' -'-'- to-day: Savannah, buying 

Chanestoo, buyinx par, 



wing were the rat< 

York at the ander ■sotlooed dties t»da 

per. wiling ^^MO pnmina . — , _„ . . 

selling yi ptomiinn; Mow Orleaas, bank, $1 50 premium, 
eommenjial 80c premiom ; Chksago, par: St. LouU, 60<i 
7*6. per 91.000 premium. 

' nitod itataa Beads.— Sale* of Oovemraent bonds at the 
I >oclade98,0004s,co«p.,l»93, atl34 to 124i,: $l2,onu 4s, 



the highaat poiat it has reached during the [>ast four years, 
aad Mo. Pac at 83K on Wedneeday was higher than it haa 
been since June, lH83, New York ft N. £, sold at 00 on 
^leaday, an advance of nearly points since our last quota- 
tion, but haa since declined to 49li. Southern Hallway shares 
have oontinu>-d in favor at home and abroad. The pfd, sold 
a fraction al>ove 44 on Tuesday, the highest figure it has 
reached this vear, and the common bwi remained steady 
above 14. 

The industrial list baa beea generally weak, under various 
oooditions. Chioa{^ Oas has exceeded in volume of businees, 
and declined from 00 ' i at the cloee last week to59aj' on Wednes- 
day, closing at K}i to-day. Am. Sugar sold at 1 14 on Monday 
and at 107 >« to-day. Tenn. Coal ft Iron lias declined about 8 
points. Distilling was strong during the early part of the 
It has dtiolined to Sfni. American Tobacco has lost 



week, but I 

about n point. U. 8. Leather hae been 

pfd. clodng at 80^, a lom of Hi points. 



weak feature, the 
:i^ 



60 



THE CHRONICLE. 



[Vol. LXI> 



NEW TORE STOCK EXCnktf 9^— ACTIVE STOP SS for week ending JULY 19. and ainee JAN. 1, 1895. 



aiOHEST AND LOWS8T PBICIB& 



July 6. 



»% 9% 

•5-4% 

lOlHlO^ 
•1S>1 10>« 

•186 

SSI* 86 
M>i 54% 



Hondmr, 
JiUyS. 



9'. 
•1% 
04 

54 



10 
IS 

64 

86^1 
54 >« 



102>4 Wi\ 
18<« 19>« 



68% 69 

123 123 >f 

89l« l<U>t 

'144>il4ft>« 

Ti^ Ti\ 

4(»« 4U>« 

•117 110 

4S''« 46S 

*S1 93 



22 S 
8e>( 



28 
•62 
181 
•161 
■14lt 
•47 
•40 



28 

66 
131 
16m 

48 
4t 



•138 132 
97^ 97^ 
•10 lOHl 
•33 38 
'24 24\ 
'83>« 8«>« 
146^ 146\ 
•88 87 »« 
10>« lOS 
S8% 89 
9 9- 

261s 26\ 
113>« 113<« 
101 101 
81i« 21>a 
•831s 84>i 
•47>i 48>« 
18S 18\ 
87>a 38 
82 S2i« 
•84 28 
•68 ..... 
101 101 
•16 17 



78 
32 
10)« 



•78 
*30i9 
•10 
•82 

60% 81 ''a 
212 212 

17% 17'', 



22 •« 
186 
8S> 



0B>« 99% 
68% 69% 
12 < 138 
99% 9'«% 
148 145 
72% 72% 
40% 40% 
•117 IIU 
46% 46% 
93 »4 
88 85% 
'62 66 
131 181% 
161% 162^8 
•U"* ISa^ 
'47% 47% 
44 44 
•128 133 
68 99 



Tuesday, 
July 9. 



9% 

•1% 
63% 

57 's 
84 



9% 

1% 

63% 

88% 
84% 



102% 103% 
-18% 19% 

217« 32% 
160 160 

88% 86% 



WednMday, 
July 10. 



10% 
33% 
24% 
83% 

14 

'8.'> 
10% 
89 

8% 
27^ 



10% 
35 
24% 
84 
147 
87% 
11 
89% 
9% 
27% 



113% list's 
10" 101 
21% 21% 



83% 

is 

18% 

38% 

32% 
•24% 
•6-1 
101% 101% 

16 16 



88% 

48% 

Is'e 

39 

32% 

25 

90 



68% 69% 
128 133 
98 "rg 90% 
144 147 
71% 72% 
40% 40''e 
•li«%117% 
48% 46% 
9^ 92 
28% 26 
•62 66 
131>«131'8 
163 16)% 
'14% 15% 
47% 47% 
■40 41 
•128 133 
*98 99 
10% 10% 
•33 85 
24 24 
83% 83% 
147 147 
85 85 
10 11 
58% 59% 
•8% 10 
26% 27 
112% 113% 
'10(, 101 
21 21% 



84 

49 

18% 

39 

32% 

28 

90 



•10% 
29% 
•8% 

•13% 
•4% 
17% 



10% 
20% 

4 
14 

478 
17% 



80 
8 
8% 

19 
19% 

82% 
32 

18% 



♦27 
•6% 
•5% 
18% 
19% 
•80 
•30% 
•17 
•114% 
•60 

7% 

17% 

•29 

•89 

•118% 117 

24% 24% 

14% 14% 

42% 43% 

18% 13% 

3 

•47 

•73% 

13 

•8 

•8% 

19% 

17% 

84% 

•8% 



71 
'30% 
•10% 

•21 
52% 



71 
32 
10% 

85% 



17% 
10% 
29% 
•3% 
•13% 
4 ■'8 
17% 



18 

11% 

30 

3% 
14% 

5 
18% 



62 

7% 
17% 
31 
91 



8 
49 
81 
13 

6 

9% 
20 
17% 
54% 

6 



30 
8 

8% 
19% 
20 
5% 
32 
18% I 
116% 
62 
8 
17^8 
SO 

91 

118% 117 
24% 24% 



•27 
•6% 
8% 
18% 
•19 
'50 
•30% 
'17 
118 
62 

7''8 
17% 
•23 



'S3 
•48 

18% 

3e% 

32 
'24 
•6S 
101% 101% 
'16 16% 
•72 73 
'30% 33 
•10% 10% 
•22 •« 

83 86 
209 211 

17% 18 



9% 10% 

•1% 1% 
63 62 
88% 88% 
84 84% 

101% 103 
18% 18% 
22 22% 
•187 161 
85% 86% 
5»% 5^ 
99% 99% 
68% 69% 

123% 123% 

99% 99% 

■144 147 

72 72% 

40% 40% 

ne'e 116% 
48% 40 

'02 98 
25% 35% 

•62 66 

130% 131 

163% 163% 
15 15 
47% 47% 

•40 44 
■127 132 

•98% 99% 
10% lO'e 

•33% 35 
24% 26 
83% 84 

147% 147% 
86% 86!« 
10 10% 
89% 60% 

9 

26% 26% 

111 11212 

101 101 
20% 20% 



Tburaday, 
July 11. 



10% 
•1% 
62% 
-57% 
53% 



10% 
1% 
63% 
58 
53% 



102 102% 
•18% 19% 
21% 22 
187 161 
85% 86% 
84% 85 

■68% 69% 
122% 123 

88% 90% 
•144% 147 
71% 73 
40 40% 
117% 117% 
45% 45% 
'92 95 
25% 25% 
•62 66 
13(>%130°F 
163 16J% 
I5I3 15% 
•47% 48% 
•40 44 
128 131 
99% 99V 
10% 10% 
85 35 



25 

•83 

147 

'88 

9% 



25% 
84 
147% 
88 
10 



Friday, 
July 12. 



10% 
•1% 

62% 
57% 
63% 



10% 
I _ 
62% 
60 

5378 



101% 102% 

19 10 

21% 21% 

157 161 
85% 86% 



100% 100% 
68% 60 
122% 122% 
98% 99 
145 148% 
71'8 72 
39% 40 
'116% 118 
45% 45% 
•92 95 
*V!5 28% 
•62 69 
130% 130% 
163% 163% 
•U'e 18% 
•47% 48 
•40 44 
127 130 
98% 08% 
10^8 lOTg 
•33% 36 
25% 

84 85 
147 147% 
•86 88 



STOCKa 



11% 

30 

3% 
•14% 

4'8 
17% 



11% 
30% 

3% 
16% 

4''8 
18% 



•83 
47% 
18% 
38% 
32 

'24 

•68 



84 

47% 

18% 

39 

33% 

26 

90 



58% 60% 

•8% 9% 

26 26% 

110% 111% 

lot 

20% 20% 



101% 101% 
16 16 



•72 
•30 

10% 
'22% 

52 



73 
32 
10% 

i'i' 



14% 
43% 
13% 
'2 

•47 

'79% 
13% 
•8 
•8% 
19% 
17% 
83% 
•5% 



14% 
43% 
18% 

21- 
49 
81 
18% 

6 

9% 
20 >< 
17% 
54% 

6 



30 
7% 
8% 
20 
19% 
52% 
32 
18% 
116% 
64 

8% 
17Tg 
SO 

01 

115% 117 
24 24% 



•27 

•6% 
5% 

17% 

10% 
•51 
•30% 
•17 
115 
•61 
7% 

17% 
•28 



17% 
10% 

29% 
8% 
•14 

4% 
18% 



30 

3% 
IS 

6 
18% 



*. 



•27 

•6% 
6% 

17% 

10% 
•51 
•30% 
•17 
115 
•60 
8 

17% 

28 



27% 27%i 

74% 74% 



27 27% 
74% 74% 



112 112% 112% 114 
100% 100% 100 100% 
113% 114% 113%1I4% 
114%118 'li4 116 



88% 60%; 

144% 144%' 

88% 22% 



•6% 
•84% 

90 
6% 

•12% 
80 

•148 ... 

•171 178 
67% 67% 
80% 30% 



86% 
38% 
00 

8% 
13% 
30 



1% 
2% 

30 

94 

41% 

01% 



1% 
2% 

20% 

94 

41% 
01%l 



88% 60 

144% 144% 

22% 23% 



14% 
42% 
13% 
•2 

•47 

•7*% 
13% 
•5 
'8% 
19% 
16% 
83% 
•8% 



14% 
44% 
13% 

2% 
49 
81 
13% 

6 

9 
20% 
17% 
84% 

6 



SO 

8 

6% 
19% 
19% 
52% 
32 
18% 
116 
64 

8 
17% 
30 
91 



83% 

47% 

18% 

38% 

32% 
•24 
•68 
100% 100^ 

16% 16% 



83% 
47% 
18% 

3K7S 

34% 

25 

00 



10 

59% 
8% 
27 



72 

•30 

•10% 
23% 
51% 

209 



72 
32 
11 
2378 
53 
212 



17% 17% 

10% 10% 

27% 29% 

3% 3% 

•14% 15% 

4% 5 

18% 18% 



115% 117 

24% 24% 



27 
74% 



86% 

84% 

90% 

6 
-13% 

80 
■14t< 
178 174 
•67% 67% 

39% 89% 



87% 

35 

90% 

6 
13% 
3u% 



1% 1% 

2% 3% 

18'8 20% 

92% 04% 

41% 4I%I 

91% 91%l 



26 

73% 
110% 113% 
100% 100% 
112% 114% 
lis 115 

53% 50% 
142% 142% 

21% 23% 



14% 

43 

13 

•2 
•47 
•70% 

13% 

■5 

•8% 

18% 

17 

•63% 
8% 



14% 
43% 
13% 

2% 
49 
81 
13% 

6 

9 
20 
17% 
64% 

5% 



•26 
6% 
5% 
17% 
19% 
51% 
*30% 
•17 
115 
63 
8 



17% 
♦28 



30 
6% 
5% 
18 
19% 
51% 
31% 
18% 
116 
63 
8% 



9% 
59 

8% 
*25 

110% 111% 
101 101 
21 21 
•82% 84 
47% *7i2 
lx% 18% 
38% 38% 
32 'a 33 
21 24 
90 
101% 
17 
73 
82 
10% 
'28 25 
47 50 
209 212 
•17% 17% 



-68 
101 
•16 
•70 
•30 
•10% 



•10 

28 

3% 

•14% 

4% 

17% 



18 
30 
' 01 

115% 117 
24 24% 



14% 

42% 

13 

-2 
•47 
•79% 

13% 

•6 
8% 

10% 

16% 

•83% 

6% 



14% 
43% 
13% 

2% 
49 
81 
13% 

6 

6% 
20% 
17% 
64 

5% 



•26 
6% 
5% 
17% 
I9I2 
51% 
•30% 
•17 
115 
•62 
7% 



Active RK. Stocks. 

At. Top. A S.Fc.lst InstaLpd. 

Atlantic* Paolflo 

Baltimore A Ohio 

Cauadlan Paoino 

Cauuda Southern ............ 

Central of New Jersey 

CeutraJ Paclllc 

Che»apeake A Ohio 

CMcagoAAlton 

Cliloa(;o Burlington A Qnlnoy 

CUoago A Eastern IllinoU. . 

Do pref. 

ChlcsKO Milwaukee A St. Paul 

Do pret. 

Chicago A Northwestern 

Do pref 

Chicago Rock Island A Paoltlr 

Chicago 8t. Paul Minn. A Om 

Do pre! 

Cleve. Ctnoln. Chlo. A St. L. . 

Do pref. 

Oolumbus Hocking V»l. A Tol 

Do pref. 

Delaware A Hudson 

Delaware LaokawannaA West 

Denver A Klo Grande 

Do pref. 

EvansvUle A Terre Bante 

Great Northern, pref 

nilnolB Central 

Iowa Central 

Do pref. 

26% Lake Brie A Western 

Do pref 

Lake Shore A Mich. Boutnem 

Long Island 

Long Ifluud Traction 
Louisville A Naahvllls. 
LoulBV. New Alb. A Chicago 
Do pref. 

Manhattan Elevated, consol. 

Michigan Central 

Minneapolis & St. Louis 

Do i8t pref 

Do 2d pref. 

Missouri Kansas A Texas... 

Do pref 

MlsBourl Pacific 

Mobile A Ohio \',', 

Nashv. ChattanoogaASt.Louis 
New York Central* Hudson. 
New York Chicago A St. Louis 
Do Istpref 

„ Do 2d pref. 

New York Lake Erie A West'n 
Do pref 

N.Y. A N.E. , tr. recs.aU Ins.pd 
New York New Haven AHart 
New York Ontario A Western 
New York Susq. A West. , new 
Do pref. 

Norfolk* Western 

Do preK 

Northern Pacific 

Do prei! 

Ohio Southern 

Oregon R'y A Navigation Co' 
Oregon Sh. Line A Utah North 
Peofla Decatur A Evausvllle 
Philadelphia A fieading. 
f Itteburg Clun. Ohio, A at l' 
Do pref. 

Pittsburg & Western, pref ... 
Klo Grande Western 



Bales of 

the 
Week, 
Shares. 



563 
1,950 
1,195 

8,87 

400 

7,157 

100 

70,881 

600 

45b 

76,885 

1,311 

12,443 

147 

18,771 

4,21b 

125 

3,421 

12U 

1,310 

4,499 

2,000 

200 

400 

100 



Range for year 1805. 



Lowest. Hlgbect 



10% 
28% 

3% 
15% 

4''e 
18 



30 
6% 
5I2 

18% 

19% 

51% 

32 

18% 
116 

64 
8 



Rouie Watertown A Ogdeneb. 
St. Louis Alt. & Terre Haute. 



26% 

74% 



86% 

387a 

90% 

6% 

•12% 

28% 
14H .... 
178 175 
•67% 67% 

37% 30% 



87''t 
84% 
80% 
5'8 
13% 
30 



% 1% 

1% 2% 

18% 10% 

92% 93% 

40% 41 

91% 92 



26% 
74% 
110% 112 

100% 100% 

111% 113% 
113 115 

52% 55% 
143% 143% 

21 21^8 



36% 

84 

00% 
8% 

12% 

28% 

148 

174 174 
•67% 67% 

86% 88% 



37% 
84% 
90% 
5% 
12% 
28% 



26% 26% 

i09% il2% 
100% 100^8 
111% 113 
115 115 
54% 87% 
143 144 
20% 21% 
3578 36% 
34 - 34 



91 

6% 
12 
20 
(•148 
172 172 
•67% 67% 
86% 877e 



01 

5% 
12% 
29% 



2% 
17 
88 
40% 
91% 



1% 
2% 

18% 

92% 

41 

91% 



1 

2% 
17 
87% 
40% 



1% 
2% 

18% 

91 

40% 



91% 91% 



17% 17% 

28 30 

80% 00% 

'115% 117 

24% 2412 

14% 14% 

42% 43 

1278 18% 

•2 2% 

'46 40 

•79% 81 

13% 13% 

•5 6 

•8% 9 

19% 1976 

16% 17% 

53% 83% 

•8% 579 

•26 27 
74 74 

107% 110% 
897e 100 

111 112 

113 115 
54% 8678 

142% 142% 
20% 21% 
36% 36% 



33% 

90% 
5% 

12 

29% 

155 

173 174 
•67 67% 

3G% 37% 



34 
00% 
5% 
12 
20 >4 



St. Louis Southwestern 

Do pref. 

St. Paul A Dnlnth 

Do pref. 

St. Paul Minn. A Manitoba... 

Southern Pacific Co 

SoutUeru voting trust, oerttf 
Do., pref. voting trust, cert 

Texas* Paolflo 

Toledo Ann Arbor * N. Mloh. 

Toledo * Ohio Central 

Do pref. 

Union Paolflo 

Union Paolflo Denver * Qnlf . 

Wabash 

Do pref. 

Wheeling A Lake Erie 

Do pref. 

Wlso. Cen. Co.,Totlng tr. otfs. 
.^llHcellaneouB Stocks. 

American Cotton Oil Co , 

Do pref 

American Sugar Refining Co. 

Do pref. 

American Tobacco Co , 

Do pref. 

Chicago Gas Co., trast reo'ts.. 
Consolidated Gas Company.. 
D1B.& C.F.Co.,tr.otf. aU ius.pd 

General Electric Co 

National Lead Co 

Do pref. 

North American Co 

Oregon Improvement Co 

Paolflo Mall 

Pipe Line Certificates 

Pullman Palace Car Company 
SUver Bullion Certificates.... 

Tennessee Coal * Iron... 

Do pref- 

Unlted States Cordage Co 

Do pref 

United States Leather Co ... 

Do pref. 

United States Rubber Co 



14,042 s% Jan. 30 • 1 1 % June 17 
%Feb. 27 2 May 18 
40 Mar. 8 65% Jan. 18 
33 Mar. t 60 July 13 
4b Jan. 30 56% June 18 
81% Feb. 18 104% July 8 
1278 Feb. 6 20% May 13 
16 Jan. 28 23% May 11 

147 Jan. « 1(0 July 
69 Mar. 4 867gjuly 11 
50 Jan. 12 57 May 8 
80 Jan. 31 1U2 May 27 
5378 Mar. 9 6S'%Julv 10 

114% Mar. 2f 123% June 17 
87% Mar. 4 100%Juue25 

137 Feb. 14 145 Jan. 28 
60% Jan. S 73%Juuel7 
28% Mar. 8 41% June 18 

104 Mar. 30 117% June 21 
35% Feb. 13 4678 June 17 
82 Jan. 10 93 June 20 
16 Jan. 29 2778 Apr. 1 
55 Jan. 9 69% Mar. 27 

123 Mar. 9 133% Jan. 18 

155% Mar. 8 166% Jan. 18 
10% Jan. 2H 16% May 11 
32% Jan. 29 48% May 11 
30 Feb. 20 51 May 11 

100 Jan. 28 134 Juu620 

795 81% Jan. 4 99 JiUy 8 

1,800 5% Jan. 28 11% Jane 13 

314 19 Jan. 31 35 July 11 

11.490 15i4Feb. 11 26% July 12 
1,326 69 Jan. 28 b8 June 26 
2,236 1341, Jan. 2 151 June24 

190 83% Apr. 19 88% Jan. 8 
12,817 5 Mar. 25 13% Juno 24 

29.491 4678 Mar. 12 61 May 11 
220 6 Mnr. 6 10% May 24 

1,117 20 Jan. 4l 29% May 18 
8,503 104 Jan. 2 11978 May 7 

156 91% Mar. 4|103 Juue 18 
1,100 14 May 23 23 June 18 

177 79 May 23l 88 June 19 

810 39% May 23| 497gJune20 

8,110 12% Jan. 30 19 June 26 

20,671 21% Jan. 29 39 July 8 

18,-.478 18%Mar. 11 34%Julyll 

100 13% Mar. 20 27 May 31 

64 Jan. 29' 70 Jan. 18 

1,537 92% Mar. 15 104 May 16 

405 11% Feb. 20 " 

235 65 Apr. 23 

24 Feb. 21 

76 714 Mar. 9 

100 16 Feb. 26 
19,765 29 Jan. 29 
66 193 Mar. 20 
1,645 15% Jan. 3 
5,720 678 June 7 
4,477 21 June 10 
. 400 2 Mar. 5 

9% Mar. 4 

2,642 2% Jan. 28 
4,539 13 Fob. 27 

4 June 18 

17 Apr. 5 

135 3% Jan. 20 
1,160 3 Feb. 4 

156,480 7% Mar. 4 

1,423 15 Jan. 12 

190 43% Jan. 30 

28 Apr. 17 

15 Apr. 16 

112% May 4 

110 35% Feb. 15 

5,115 4% Jan. 25 

13,807 8% Jan. 29 

18 Feb. 5 

105 00 Feb. 4 

104 Mar. 8 

2,850 16% Apr. 17 

14,946 8% Jan. 29 

43,161 20% Jan. 29 

6,465 8% Jan. 30 

100 'gFeb. 14 

41 Jan. 14 

73 Jan. 14 

2,177 7% Mar. 14 
3% Feb. 11 

136 8% Mar. 6 
6,570 12% Jan. 20 

81,065 8% Feb. 28 
615 85 Feb. 25 
700 2% Mar. 1 



1 1% 

2% 2% 

1578 17 

84% 87% 

40 40% 

907g 8l%|Westem Union Telegraph... 



2,532 

1,105 

213,4(9 

1.628 

45,442 

1,222 

277,810 

37H 

101,137 

16,588 

4,045 

1,269 

1,870 

700 

4,870 



• 9beM are bid and Mk«d| no sal* mtOib. \ igt Instalment 3 % paid. U Lowest is ex dividend. 



555 
10,000 

28,898 

3',890 
3,573 
36.497 
38,455 
3,690 
6,347 



18% Feb. 13 

62 Feb. 18 

86% Jan. 3 

90% Jan. 8 

84% Feb. 21 

103% Feb. 27 

5288 July 10 

126 Jan. 29 

13% Mar. 20 

257g Mar. 4 

26% Feb. 16 

78% Jan. 28 

2% Jan. 30 

8 Mar. 8 

20 Jan. 26 

05% Jan. 4 

184 Jan. 2 

60 Jan. 10 

13% Jan. 29 

74 Apr. 17 

7g July 

l%July 9 

7 Feb. 27 

68 Feb. 27 

37% Juue 28 

86 Jan. M 



18% May 13 
72 May 28 
34% May 17 
14% May 18 
3278 June 15 
56 July 9 
218 June 18 
19% May 11 
14% Jan. 21 
43% Jan. 18 

6% May 13 
10% Jan. 18 

8% May 13 
27 May 11 
10% May 1 
32 Juue 11 

9% May 13 

7 May 13 
21% May 13 
22% May 13 
54 May 13 
33% Jan. 3 
1978 June 17 
117% Jan. 21 
68 June 6 

8% July 9 
18 July 11 
31% May 18 
95 May 11 
116% May 15 
25% June 3 
1478 May 10 
44% July 
1378 May 13 

4% May 14 
40 Jime 14 
81 Mar. 21 
17% May 11 

7% May 14 

9% May 13 
21% June 18 
18% June 27 
547^ JiUy 2 

6% May 14 

30% May 13 

7078 May 13 

121% June 13 

1021s Juue 12 

117 May 27 

116% June 21 

78% Jan. 11 

149 June 8 

24% May 13 

3778 Mar. 25 

38 Jan. 18 

01 May 17 

7 May 13 

14% May 24 

32% June 13 

ISl May 10 

178% June 17 

68% Apr. 1 

40% June 20 

102 Juue 25 

8% Jan. 4 

13% Jan. 4 

24% May 3 

87% May 27 

48 Juue 3 

94% Juue 14 



JCLV 18, 189S.J 



THE CHRONICLE. 



61 



NEW VUKK STOCK EXCUANUB eftlCKHiCoatiaawiy-tNAOnVE STOOKS. ftlndUeatea aetiuU saleaj 



lHAcnvB Sioou 
f Indloktc* onUated. 



HaUr«B« StAcka. 

4llwnr A BuaonriiMina 100 

Bmlt A0.8. W. pnt.aew 100 

BalMrUl* A aootB. 111. pref 100 

Boatsn * jr. r. Air Una prat. .100 

BMOklTB BaTMMI 100 

BaAIo BMlMMar A PtttaburK. 100 

rnfamd. lOO 

Bail OMUr Baphto A Nor 100 

Olanland A ntUbon ao 

Daa Ma<o«a A Pn 1 Dodce 100 

rretarrad 100 

Oalath ito. Bkora A AUaatiel .100 

PrsTarradl 100 

FUal AParaMarqaelM^ 100 

nattmd 100 

Or. BaT Wln.A8t.P. U.rM....100 

PraraRad tnut reru 100 

■• A Taxaa Oaattmi lOl 

lOumi laMcd tlaaa....l0(' 

I nuaola A towa. lOO 

awBaA Mlohlcao loc 

KaaKakA OMlfotnM lov 

Piaterad luo 

Laatar.St. LoaUATexaa 100 

M ihwim p »al SO 

niCflvfad..... ..•.......»...•• 50 

MatMpaUtasTraeUoat... 100 

' -tOaatraL ..100 

tXatloaaltr e\U 100 

uAAt L..tr.rr. lOO 

Pnianad, ir. rrr i(X 

MaiflaA ICaaax SO 

BawJarMTAX. V 100 

Pralarrad 100 

B. Y. LAe>. A Waaaara lUO 

B«riMk*aMtlte>rm. 100 

PMrta* Baalara 100 

BaMaalaar A SaiaMca 100 

Bte Oraada Waatam pref . .... iUj 



JUy 13. 



ftU«$) in 189S. 



BM. Aak. LottaL 



1«7 



132 
103 

20 

21 

SU 

43 >) 
1»7 
9>« 

45 )t 
• 



40 



16% 

8*4 

4 



IIA 
10« 



11% 

S 



6 

178 

«3 



10 



105 
31 >• 

38 I 
M 



10 



16 
44 
1\ 



17% 
9% 
5 



IS 
S>a 



43 



6 Apr. 

101%' Apr. 
10 Jair 
19 Apr. 
58 Jan. 
45 Maj 
15« Jan. 

5%Pt>b. 
30 Jan. 

2% Mar. 

&%Mar. 

9 Apr. 

34 Apr. 

liPrb. 

l%Feb. 

l%lfar. 
88 Mar 
17% Jul/ 

8%Pct>. 

3 Jan. 
13% Mm. 

l%Apr. 



88% Apr. 

8 Mar. 

I % Apr. 

2fl%P*b. 

4«%JaB. 

lft« rah. 



115% Jaly 

W Apr. 

3 Jaa. 

178 Joljr 
30 Mar 



BiglutU 



13 May 

103 "Feb 

19 July 

24 Mar 

60 Apr. 

45 May 

159% July 

11 June 

55 J due 

9 June 

11% June 

17% May 

4.^ May 

3 May 

4% M»v 

3% May 

61* Jan. 

24 Mar 

lO Apr. 

8 M..y 

17%Jul> 

l%Apr. 



laAOtTTB 8TO0KB. 

f Indloatea onllstad. 



109% June 

13% May 

4 May 

88 May 

86%M.y 

184 Jan. 



118 Feb. 

8*1 Apr. 

7 July 

IBS Apr 

48% May 



niedo Peoria A Weatem 100 

lUedo 8t. L. A Kanaaa OltyL.lOO 
niarallaaeoaa Mocka. 

Adams Expreaa 100 

; American Bank Note Uo 1 

lAmerloan Expreaa 100 

Amer. Tetanmph A Ciable 100 

|Bay8Ute<M«I SO 

iBrunawlokOompany 100 

Chlo. Jnne. By. A Stock Tarda. 100 

Pr«farred 100 

OolonMlo Goal A Iron Oerel... 100 
CMoradoPaelA Iron 100 

Preferred lOO 

Onlanbaa A Hoeklnif Ooal 100 

Ooauneroial Cable 100 

ConaoL Coal of Maryland lOO 

Editon Eleotrle n]nmlnaUnc...IOO 
Krie Feleicrapti A FelepbODe ..100 

lotartor Conduit A Ina 100 

r.AeiedeOaa 100 

Preferred loo 

IMJA A Wtlkeabarra Goal f 

Maryuod Goal, pref lOO 

Mlaklcan-Penlnaalar Oar Oo ... 100 

Preferred 100 

Iron 100 

laaeadOllOo 100 

BtarobMfc. Co 100 

naaUmtOoal 100 

surer MInInK 100 

PaawyWaala Ooal so 

' rami Talacraph-Cable T 100 

I Ir^SrMMe' Lud Triiatl 

17. 8. Oariamt, Knaranteed 
U. S. BspSla. 
,,a8.Bubtar 

II Walla. Pari* Bipi 



I^Bvnual 



100 
...100 
...100 
...UK) 
...100 
...100 
....100 



Ju<y 12. 



Bid. lAak. 



6 

U7 

44 

IU3 

94% 

IB 

K% 



8% 

: 88^ 

90 
5% 
15« 

32% 

:iooH 



: 24% 

80 

so' 



; e3>< 
38 >• 
8% 
7 
8 
380 
81 
3% 

"ii'i 

. 4% 

: 42 

93 
107 



LSO 

47 

97' 

23 

3 



89 

"e% 



38% 
85 

76" 



39% 

9 

9 
10 



8i 
3% 

19 
11^ 

43'" 
93% 
112 



Kange (tola) in 1895. 



IiOtettt. 



tt June 

140 Jan. 

37 May 

109 Feb. 

89 Mar. 

13 Mar. 

1% Apr. 

89 Feb. 

4 "Mar. 
23% Mar. 
SO Feb. 

2% Jan. 
14^ Hay 
28% .Apr. 
94% Mar. 
45% Feb. 
30% Feb. 
23% Jan. 
81 Mar. 
30 Jan. 
30 Jan. 

53 'Jan. 
39% Mar. 
17% Jan. 

5 Jan. 

6 Jan. 
8% Mar. 

310 Jan. 

69 Apr. 

3 Jan. 

13% Jan. 

7 Mar. 
4% July 

St) M:ir 

91% JuLe 

104 Pt<b. 



Bighat 



8 lUy 

150 June 
37 May 

119% May 

96% May 

25 June 

4% May 

95 Jan. 

11% Judo 

41% Jaly 

93 July 

9% Jane 

163% June 
33% Jan. 

10^% June 
59% May 
41% Mar. 
33% Jnn* 
92 May 
20 Jan. 
50 J.10. 

S8'%'May 
69 Joue 
31% Jane 
12 May 

9 June 
10% May 

320 Jan. 

69 Apr. 
4% May 

20 Apr. 

12% May 

23% Jan. 

4.^ Jan. 

08% June 
111% May 



■ ■• pMea PiMay ; lataat pnea lAia weak. 






NEW TORK HTOCE KXCHAK»E VUCtA^STATE BOSDS JULY 19. 



■BCtnUTIBB. 



AlahAiDA-qaaa A. 4 lo » Itoe 

Claaa B, Oa 1906 

Cla*a0.48 1906 

CwivMir t«BdiAf 4a imo 

Artism «a.f»^oLlS— -1900 
4a. ■••■Bolford 

7a, Artaana OaatrAl BB 

laaWana 7a,«o«a i814 

Slaa^id 4a 

>aW8a»oI«L«a UU 



107 

107 

97 

97 

8 

ISO 

i'lo' 
"m* 



u 
"i' 



MKUBrriB*. 



^ ISM-lSM 

■•nh Oanlla»-«a.old..„...JAJ 

Fanirtyat. I800 

■•wbMda.JAJ 1« 



I 

1910 

1919 

OatoUBA— 4 >M. 20-40 . . 1988 

......^ir- 



1 
1 

i's's* 

108 
1% 



8% 

3% 

104 
IJO 
110 

9 



BBCUBITIES. 



.».. ...Old 18M-1898 

«a,Baw boada 1898.S-1900 

do aaw aertea 1914 

»4.S-6a 1913 

1918 

■pUon 4a 1907 

da «%a 1918 

Paaltaatlarr 4%a 1913 

TIrsUlA fnadad debt, »4a...l»91 
Sa. dalarrad tfat rac'ta. atampAd. 



Bid. Aak. 



90% 

95 
105 
lu5 

61% 
6% 



98% 



63% 
7 



Mew T*rk 

Jnlr •. 18B3. 



City ItaBk SUtoBMBt for Um 
Wb omU two c^pluru HMT) in aO 



Nmp T«rfe Ottf. BMtM aa« PklUdelphlm Bamki 

aSSm. Lmm. I^taia tnuli Hn»*i:t,OlnTm 



90<;»<S.«7£ilUin^ 
«tCj8a,>4l.4'llir 
MO,6A48CB '■'■■ 



I •«•• aiaatn m as Ukf Ifvm. * laaladlaa (or BuMoa 
t Mam " 4aa to other bank^." 

MlBMllBBeois Aa4 Ualisted Boada : 




[null ttffMtl:* 

3Jft86.M«.8l8U8» 

JSlI M!l,<*l«.0 lS34«ft 
■in«T ft74.4S9,0 iai*46 
•hIM S7<l,4*a,S 1S15»0 

■'i».»7a.a 181340 

' *«a.ol 7.887.0 

H.U7.0 1.S41.0 

XM^U 17d,U01.U 7,S4*,0 



(4.439.0 
84,»us.O 
88.874.0 



110.«98.0kl98.u 
1 1 l.Mft.O 0, 254.0 
111.»71.UA»"».0 



t.f. 



477.190,6 
ftf0.67M 
ai4.il3.9 
588,485.1 
681,457,8 

aft.i3S.8 
lia807.7 

78,572,8 



aadPUla 



Mlaaaflaaaaaa Baada. 
MM ra M J. TW. A Tain«l 5* 
Mlah..Kala.UarlM>a. ... 
Mataal Uaioa Tala«.-8a a. 
X. r. A If. J. Talap. (aa. 8*.. 
■atlAwaaaan Talacrapb— 7a 
Paapla'* Oaa A a7n.m% g. U. 

Oaw.atalaa«e ...iS« g. 8*. 

lataoBik (.8a 

Plaaa. rallavOoal-lat «. 8«. 
•oath Taba watv Oo.aaa.8a. 
■■■day Oraak Ooal lit ■ <■.. 
b B. Caalhar-S. t. dab. . (..•• 
Waatara Dalaa Talag.— . 
WhaaLUCAP!"* Ooal latS* 

Ma«.A0>arla«*aa-O«a 7 »■ 



110 b. 

•106 b. 

110 b. 

i(»"k. 
103 a. 
'100 b. 

io6"b. 

iis%b. 

109 b. 

68 b. 

11 b. 



Bon;-"»"ia<Uaataarnaa»M: '■a**pnaaaakaA • Lataat ptto* UOa «aak 

BsBk Stock Uat-Lateat prioea this week. ('Nut liated.) 

"iZliKS. . kii. Aak 



OarsMio 
0>li«1 -< 
tjnrt.ln. 

»«r«.,.l. 

r\iit. St 

Bank ..r laaMaaMl 
Wo«t KM* . ' 
•aal>»4r<l 

N°>'l«n*l . 
hralNaL Brtifa . 
laatiara .Natk.haJ.. 
laLOalan tMak. . 
U t ar t T Nai. aaak. 
8.T. PtaA Baab'iia. 



I 73L801.7l»lt,804.7 84.4»8,5'110.145.5 469.873.2 



«8 

sob' 

158 
810 
IM 
510 
135 
105 
615 
,, ..,■ ,.. U» 
MarkatAPaI^3ia 
■ IKO 

140 
163 
IJl 
IIJ 
400 
100 
ISO 
334 
540 
100 



Maabaalaa' . 
M-ohs'ATra' 
MareaalUa.. 
Morehaata*.. 
Maroh'ta Bx 
IMatropolla.. 
ML MorrU.. 

KawTork™ 
K.V.Oa'Bly. 
lM.T.Nat.1^. 



itr 

sso' 

570 
300 



300 
140 
120 
4«0 

186' 
830 

135' 



NlatA 117 

IPth Ward.. '125 
N. Amarloa. IM 
Ortaatal ... 200 

Paciao 185 

Park... ..^ 370 



118% 



Phamx 

Prad. Kx.*.. 
BapabUa... 
Baaboa J ... 
Saoood...... 

Baraalb ... 
ShoaALa'tb 
Soatbara . . 
maiaof N.T. 

Tnlrd 

Tradaaa'B'i 
334 Wanl>.. 

Ualao* 

Dd'4 8lat»< 

Waatara 

WaatSlda.. 



153 S 
168 
800 
100 

80 
180 
109 
106 

90 



180 
110 



r 

900 

800 

136"* 



155 



100 



lis 

■95" 



62 



THE CHRONK^LE. 



[Vol. LSI. 



BO!iTON, PHILiOELPHIA AND BALTIKOBE STOCK E&CHA NftES 



AotW* Stocks. 
'l lodloaio* ualltud. 

Xieb. T. AB. re (Bo»»<»«>.100 

B^tliuure A OHIO (BoH.).100 
Bklt. City P»«l!" " " 

BalUmor* TruUun 3S 

BalttmoreTrM'uKrAiM. 2», 
Bwtoa* 4lbanp;(Bo«<on).l<>0 

" 100 

•• 100 

100 

100 

(PAi/).100 

" 50 

lOJ 

.50 

(Boston). 100 

, .. (PItUa.). 50 

— — Central (Bi»/on).100 
MMroporn Tracf f/"/ii0.lOO 
MeilMD Oenl'l (Bo*lon).\00 
a y.4N.E..tr.reo.« " 100 
Prefened.U.reo.i ". 100 
■orttaern Central (Bull.). 50 
■orthera Paolflo lPhUa.)\00 
Preferred •* 100 

Old Colony (Boilon) 100 

Pennsylvania. ..fPAi'o.;. 50 
People'»Tr8ctlon " 50 
PhUa. A Keadlng. " 50 
Phlladelph Trao. " 50 
Union Pa<'lflo...rBo»(o»MOO 
■laeellaaeoaa titaeka. 
Aoi.Bug'r Re&DS\( notion).... 
Preferred 



trr Share Pricea - mot Per O<ntom Prteca. 



BoaMoA Lowell 
Boaton * Maine 
Oaoualof Kaee. 

Praf erred 
Olile Bur.AQaln. 
Chle. mi A Bt. P 
Oho.O.AU.Tot-Uc 
Ot-Bt-Ryof lodi; 
BeetrtoTracit'n 
FItolibnrc vref . 
l«kl«ta Valley. 



B>U Telepbooe.. 
Boat. A Mootana. 



100 
25 
25 
25 



Batte A Boston.. 
Otlumet A Heola 

OaatonCo (BalD.lOO 

OonsolldaMKi Gaa •• 100 
Klec.sior. Bat'yH (PAilo.) . 100 

Preferred H " 100 

Erie ■releDhoue.fBo«ton;.100 
General Eleotrlo. " 100 

Preferred " 100 

LimsonStoreBer. " 50 
L^WhCoalASsiT.CPAi/a.) 50 
N.E. Telepbooe (BostoH).lOO 
UQil'dOasImp.llri'Aitoj. 50 
WaUbaob Light 1i 5 

Waat Knd LaB< . . (Boston) .... 
^ AU Instalments paid. 



Saturdv, 
July «. 

»9"7, 9ilu 

•6i»t .'.'.'.'.'. 

'""[', ji" 

"so'ii 20^ 
•210 

202 202 
• 177 

'13>a li 

•55 

85% 85'8 
68 H 09 
14 I* 
52«a 54 
73 ■« 737s 
90 00 >■ 

•138 1«0 

102% 103>« 
12 <« 12% 
50>« 51% 
95 96 

•68 >• 

4% 4T8 
17»6 17=8 

179% 179% 
63»8 53'6 
6lt 61% 
96i, 9'i. 
83% 8338 

•12«« U 

112 112% 
lOOag 101 
194% 194% 
7J% 78 
13% 18% 
298 29a 



Monday, 
July 8 

t9>»ie 10 



'■"III "72% 
' 2>% 

•^0'« 21 
211 211% 

'202 

174 175 

•13% 

•M 57% 
8')''* 86% 
eS'g 69% 
IS'g 14 
54 54% 
73 73% 
90% 90% 
37% 37% 
ItO 140 
102 102% 
13% 13 
52% 55% 
95 95 



63 
29 



6<% 
29 



671 57% 

3J% 36% 

•70 71 

■22% 23% 

•46 48% 

77 77 

78 78 
58 58 

3% 2% 
- Bid anil 



5 5 

17«8 17»8 

178 178% 

53% 54 

61 61 
97,s 9'8 

82ie 83% 

13 13 

112% 114 

1001100% 

194% 195% 

72 77 

1S% 19 

2«5 2?9 

•70 71 

63% 63% 



Tuesday, 
July 9. 

tJl'.s 10 

•1% 1>8 

•;".'" ii" 

20% 23% 
20 20% 
211% 212 
203 20 3 
I7i 175 
14 14 
&■) 58 
85% 83% 
68% 69% 
13^8 11 
53 53% 
73 73 

■ 90% 

37 37 i. 

139% 139% 

10J% 101% 

12 13% 

5L 55% 

• 94% 



Wedoeaday, Tbarsday, 
Jau 10. July 11. 



•1% .... 

•62 

72 

20% 2i<>8 
2<l% 201,1 
212% 213 
203 203 
176 175 



4^8 4''» 
•1"» 18% 
179 179 
53% 51 
60 60% 
8'8 915,8 
81 82 
•18 13'* 

110'8ll3% 

100 100% 

195 19(1 

67I3 73 

17 18 

2?5 298 

6S 68 

• 63% 



57% 57'» 

87% 37% 

70 72 

22% 21% 

46% 46% 

80 80 

77% 77% 

58 59 

2% 2% 
asked prices; 



86 86 >« 
68% 69 1 

■53" 63% 

•72% 72% 

90 90 

87% 37% 

139 140 

100% 102 

Ifs 12% 

63 53 

•90 94 

•681-j 

5 5 

18% 13% 

178% ni\ 

64% 5t% 

60% 60% 

8% »% 

8L 31% 

'13 18 1 

1107glll% 
10 1 100% 
1J6 196 
68 72% 
16% 17% 
295 297 

* 70 

• 63% 



67% 67% 
37% 37 's 

•70 72 
22% 22% 
4U 4S% 
80 80% 
76% 76% 
58% 53% 
2% 2% 

no sale w*t 



67% 57% 

•38% 37 

70 70 

•22% 23 

46 '4 46% 



tlO^ 10% 

•62" .'.'.'.'.'. 

72 72 
20% 20% 
20% 20'* 
213 213 
203 203 
174 174 
•13% .... 

• 87% 

85% 87 
68% 69% 
13% 13% 
.53 58 
72% 72% 
90 90 
37% 37% 
139% 139% 
101 101% 
12% 12% 
51% 52'« 

95 

68% 68% 
4% 4''b 
•13 18% 
179 179 
54% 54% 
60% 60% 
8i»M 9 
80 81 
13 13 

109% 112 
100 100% 
146% 106% 
72% 72% 
17% 13 
293 295 

■67% 

63% 63% 



Friday, 
July 12 

(10% 10% 
•1 1% 

•62 63 
•71% 72 
•20% 20% 
20% 2J% 
213 21S 
203 203 
174 174 
•13 14 
•55 60 
85% 86% 
68% 63''8 
13% 18% 
52% 52% 
72% 7<% 
•89% 9> 
•37 37% 
133 140 
101% 101% 
12 12 •« 
47 49% 



Sales 

of the 

Week, 

Sbares. 

11,710 



Kange of sales In 1895. 



Lowest. 




.57% 67% 

3<)% 38% 

70% 71 

♦22 % 23 

•46 47 

83 83 

76''g 77 

56% 56^8 

•2% 2% 



•90 


95 


•63 


63% 


4T« 


4''« 


I7i 


17% 


130 


180 


54% 


54% 


60'8 


62% 


S 


9% 


80% 


80 


•13 


13% 


107% 110 1 


100 


100% 


197% 199 1 


73 


76 


17% 


18 


295 


295 


•68 


69 


82% 


63 


23 


29 


•28 


30 


57% 


57% 


•36% 


36% 



100 

2,135 

8,33H 

98 

90 

1_. 

30 

1 

12,269 

18,900 

],!69 

3,«62 

64 3 

164 

916 

61 

9,35-1 

10,225 

4,930 

26 

7a 

2,405 

720 

97 

6,733 

4,901 

62,573 

5,579 



3% Jan. 
'50 Jan. 

49 ■'9 Mar. 

69% Mar. 

14% Jan. 

14% Jan. 

206% Mar. 

196% Jan. 

160 Jan. 

5 Apr. 

43 Feb. 

69% Mar. 

51 Mar. 

11% May 

34% Feb. 

70 Apr. 

82% Jan. 

27% Mar. 
125 1 Jan. 

81 Apr. 
5 % Jan. 

29 Jan. 

59% Feb. 

64 Jan. 
2% Jan. 

13 Feb. 
176% June 

48% Jan 

43% Jan. 

313,8 Mar. 

76 Apr. 
8 Mar 



Highest. 



tlO^a 
2 

65 

74 

Ul% 

21% 
213 
204 



2 177% 



29.317 
772 
539 
53,451 
2l,4>8 
101 
100; 
146 
100 



10 

60% 

87 

69% 

15% 

51% 

87 

93% 

39 
140 
108% 

13>« 

55% 
10 1% 

70% 
7 '8 

25% 
182% 

54% 

63 

10% 

99 '4 

17% 



22 


22% 


46% 


43-8 


83 


85 


76% 


77 


56% 


67 


•2% 


2% 



468 

1,745 

327 

IfO 

150 

15l| 

1,832 

5211 

80 

l8t in 



86% Jan. 7 
90 Jan. 8 

175% Apr. 17 

33% Jan. 2 

9 Mar. 12 

230 Mar. 12 
67% May 4 
60 May 17 
26 June 13 
28 Apr. 5 
45% Feb. 13 
25''8 Mar. 4 
60 Feb. 5 
22 July 12 
40% Mar. 8 

66 Feb. 15 

67 Apr. 2 
36 Mar. 23 

2 Jan. 30 
stalmeit, $3, 



June 18 
May 13 
Jan. 21 
June 12 
Junel'7 
June 17 
July 10 
May 13 
June 18 
May 13 
May 14 
July 11 
July 11 
June 17 
July 8 
Jan. 3 
June 12 
May 11 
July 8 
Jan. 3 
May 7 
July 8 
June 2 1 
Juue 7 
May 13 
iVIay 14 
June 19 
July 11 
Jane 3 
May 18 
Jan. 2 
May 10 



12J>4 JunelS 

102% June 12 

210 May 20 

78% July 5 

1'* July 8 

305 May 27 

91% Jan. 16 

65% Jan. 2 

31% Feb, 13 

32% Mar. 18 

59 May 13 
37^8 July 9 
72 July 8 
25% Apr. 16 
49% Jan. 6 
85 July 12 
79% June 17 

60 June 21 
33,8 May 9 

pa'd. 



49 

21 
141% 
240 



13 
42 



In active Stockt. I Bid. 

Prices ot July 12. | 

AUanta & Cbarlotte (Ba^M.lOO! 92 
Boston & Providence (iio((oii).10O 863 
OamaeD AAUantlep(.(/'Ai<a.). 60 33 

Catawlssa " 50 

1st jireterred " 50 

Central Ohio (Ball.). 50 

Chlcsgo « Wei<t Mlch.tBu«<on).100 
Oonoectlcut cSc Pass.. " 100 
Oonneoticut River... " 100 
OoDsol. Traotof N.J.H (rAUa.).lOO 
DelawareABoundBr. ■' 100 
rUnt A Pere Harq...cBo«(on).100 

Preferred " 100 

HestonvlUe PaBseng. (Plitla.). 50 

Preferred 1: " 60 

Bunt. A Broad Top... " 50 

Preferred " 60 

Kan. CyFua. AMem.(£o<(on).100 

Preferred " 100 

Uttle SobuTlkiU (PAUa.). 50 

Mine HIUAB.HaTen " 50 
HesquebonlDg Val ... '• 60 
■ortn American Co.. " 100 
Morth Pennsylvania. " 50 
Oregon Bbort Line . . . (Boston) . 100 
rennsyWanlaAN.W. rPAi/a.>. 60 

FhlladeL A Erie " 50 

Bntland (Boston) 100 

Preferred " 100 

Boathem (Bait.) .100 

Preferred •• 100 

West Knd (Boston). 60 

Preferred " 60 

.Pnlted Cos. of N. J.. rPAito.M0O 

West Jersey " 60 

Wen Jersey A Atlan. " 60 

Western N.V. A Penn " 100 
Wisconsin Central. ..riiofton;. 100 

Preferred •' 100 

Worc'suMasli.ABoeh. " 100 

MISOILUUIBOnB. 
AUoueiMln'g,asatpdfilo((on>. 26 

Atlantlo Mining •• 25 

BaySUteOaai " 60 

Boston Land " 10 

OeDtennlal Mining... " 10 

Port Wayne Eleot.1l.. " 26 

Pranklin Mining " 25 

Freoohm'n%BayI/d. " 6 

BUnoUBteeL " 100 

Kearsarge Mining.... " 25 

OaeeolaMlnlng •• 25 

Pullman Palace Car. " 100 



94 
263% 



54% 

16% 

55 

62 

65 

66 

■85% 
6% 



4 

48 

52 

22 
143 
250 

29 
16 

14 

45 

591s 

70 

32''b 

56 

17% 

60 



Inactive ttockti 



Bid. 



2 

69 



43 

72% 

90 



7 
89 
29 

3% 
71 



73 
90% 



Boston Unite ilGa->, 2dm. 58. .1939, 
Burl. A Mo. River Exenpt 6s, JAJ| 

Non.eiempt6s 1918, JAJ 

Plain 48 1910,JAJj 

Cblc. Burl. A Nor. lBt&,1926, AAO 

2d mort. 68 1918, JADi 

Debenturees 1896,JAD 

Chlo. Burl. A Quinoy 48. .1922, FAA 

Iowa Division 48 1919, AAO 

CblcAW.Mlcb. gen. 5s,1921, J&D 
Consol. of Vermont, 58.1913, JAJ 
Current River, Ist, as. .1927, AAO 
Det. Lans. & Nor'n M. 7b. 1907, JAJ 
Eastern let mort 6 g.l906,M&8.. 
Free.Elk. AM. v., let, 68.1933, end. 
K.C. C. A 8pring.,l8t,6g„1925,AAO 
K C. F.8.AM. con. 68,1928, MAN 
K.C.Mem. A Blr.,lst.28,1927, MAS 
K.C. St. Jo. ACE., 78. .1907, JAJ 
L. Rock A Ft. 8^ let, 78. .1905, JAJ 
Louis.,Ev.A8t.ll.,lst,6K.1926,AAO 

2m., 5— 6 g 1936, AAO 

Mar. B. A Ont.,68 1926, AAO 

Mexican Central, 4 i?... 1911, JAJ 

let coneol. incomes, 3 g, nonKtum. 

2d oonsol. Incomee. 38, non-oum. 

N. Y. A N.Eng,, let, 7s, 1905. JAJ' 

, 1st mort. 68 1905, JAJ 

I 2d mort. 6s 1902, FAA 

Ogden. AL.O.,Con.6s...l920,AAC 

I Ino.6s 1920 

Btt tland, lst,6s 1902,MAN 

ad, 6s 1898, FAA 



Ask. 



53 53% 
li:>%llti% 



105 

95 
104 

99 

99 

95% 



106 

98 
104% 
100 
100 

97% 



BondSi 



97% 


99 1 


82 1 84 


86 


H7 


75 


85 


«f 


65 


20% 


122 



(12818 12713 



235le 236 



Penpsylvania Steel.. (PAUa.).100 

rteferredH " 100 

Qolncy Milling (Boston). 25 

nmarack Mining " 25 

Water Power " lOO 

WestinKli. Elec. AM.. " 60 

Prel., cuiuulutive. " 60 



yT.4g.,1989,JAJ 



So*'p"iirF^«gSr':i 



▲t.XDn.d 

2d2%-4s, g., ClassA..1989, AAO 
B wton United Oas 1st 5s. 



52 

25 
4% 
5% 



54 



AM^i,%5$v^.mi>tiii^ 



120 

•75 

17% 
9% 
4% 
1% 
1% 

19 
1 

72 

19 

84 
173% 



41a 
6 
25 
125 

100 

18% 
10 

5 

1% 

2 
19% 

2 

73 

19% 

34% 

1741-2 



84% 
120 
141 
1 

34 

64 

' 76% 
• 29%; 
^ 79%' 



121 
143 
1% 

36 

64% 

76% 
29% 
80 



,JAJ 



^kAAVKAaOAa^ T C»Xtf ( W-AUOf A,aa\f. w usw 

AUantio City Ist 58, g., 1919,MAN 
BelTidere Del. , 1st, 6b . . 1902, JAD 

Buffalo Ry. con. Ist, 5a 1931 

Oatawisea, M.,78 1900, FAA 

Choc. Okla. A Oult, prior lien 68.. 
Citizens' St.Ry.of Ind.,oon.5s.l933 
Columb. St. Ry„ let, con. 58.. 1932 
Columb. O. Crosstuwn, lst,58.1933 
Consol. Tract, of N. J,, l8t,5s.l933 
Del. A B'd Br'k, 1st, 7b. 1905, FAA 
BiUtonAAm. letM.,5e.l920,MAN 
Blmlr. A Wllm., let. 68. 1910, JAJ. 
lle.stonvllle M. A F., con. 5s.. 1924 
Hunt. A Br'd Top,Con.5B.'95,AAO 

Lehigh Nav. 4%8 1914,0-^ 

2d 6s, gold 1897, JAD 

Qeneral mort. 4%8, «;.1924,Q— F 
Lehigh Val.Coal Ist 58,g.l933,J AJ 
Lehigh VaUey, let 6s. . .1898, JAD 

2d 7b 1910, MAS 

Consol. 6 1923, JAD 

Newark Passenger, con. 58... 1930 
Honh Penn. Isi, 78.. ..1896, MAN 

Gen. M. 78 1903, JAJ 

Pennsylvania geu.6B, r..l910, Var 

Con«ol.6s,o 1905, V»r 

OoDBOl. 5s,T 1919, Var 

OoUat. Tr. 4% g. 1918, JAD 

Pa. A N. Y. Canal, 7b. . .igoetJAO 
Con. 6s, 1989. Kan 



10; 

107% 

114 

107 

94% 
101 



108% 



Bid. Aal 



131% 
121 



102 
126" 



124 



,'112 



People's Trae trust certs. 4s.. 19 43 
Perkiomen, 1st ser.,58.1918, Q— J 
PhUa.A Erie gen. M. 5g.,1920, AAO 

Gen. mort., 4 g 1920, AAO 

PhUa A Bead, new 4 g., 1958, JAJ 
iBt pref. income, 5 g, 1958, Feb 1 
2d pref. income, 5 g, 1958, Feb. 1 
8d pref . income, 5 g, 1958, Feb. 1 

ad, 5s 1933, AAO 

Oonsol. mort. 7e 1911, JAD 

Oonsol. mort. 6 g 1911, JAD 

ImprovementM.6 g., 1897, AAO 
Oon.M.,6 g.,Btamped,1922,MAN 

Terminal 58, g 1941. Q.— F. 

Phil. WUm. A Bait., 4b. 1917, AAO 
Pitts. C. A St. L., 78.. ..1900, FAA 
KocUester Railway, con. 38 ..1930 
8ohuyl.R.E.8ide,l8t 5 g.l935, JAD 
Union Terminal 1st 5s FAA 

Atlf5t"a'i?6jSf.'.Hffi?!;fl907,Jft.I 
Baltimc/re Belt, Ist, 58.1990, MAN 
Bait. C. Pass. Ist 5a. ...1911, MAN 
Bait. Traction, Ist 58.. 1929, MAN 
Exten. A impt. 63. ...19 >1, MAS 

No. Bait. Dlv.. 5s 19i'2. JAD 

Baltimore A Ohio 1 g., 1935, A&O, 

Pitts. AConu., 5g....l925, FAA' 

Btaten Uland, 2d, S g.l926, JAJ 

Bal.AOhio 8.W.,lst,4%g.l990, J AJ 

CapeF.AYad.,8er.A.,6g.l916, JAD 

Series B., 6 g 1916, JAD 

Series C, 6 g 1916, JAD 

Cent. Ohio, 4%g 1930, MAP 

Cent. Pass., Ist 5s 1932, MAN 

City A8ub., l8t58 1922, JAD 

Oharl.Col.AAug.ext.58. 1910, JAJ 
CoL A Greeuv., let 5-68.1917, JAJ 
Ga. Car. A Nor. 1st 5 g.. 1929, JAJ 
Georgia Fac, 1st 5-68... 1922, JAJ 

North. Cent. 6s 1900, JAJ 

6b 1904, JAJ 

Series A, 5s 1926, JAJ 

4%s 1925, AAO 

Piedm.ACum.,lBt, 5g.l911, FAA 
PitU.AConneUs.l8t7s.1898, JAJ 

Southern, IstSs ...1994, JAJ 

Virginia Mid., Ist 6s. ..1906, MAb 

2d Series, 6s 1911 U&g 

8d Series, 6s 1916, MA8 

4th Series, 3-4-5B 1921, MAB 

5th SeriBB, 58 1926, MAS 

West Va C. ot V. Ist, 6 g.l911, JAJ 
WeFt'LN.C. Oonsol. 6 g.l914, JAJ 
Wllm. Col. A Aug., 68. .1910, JAD 

lU80ELI.ANEODg. 

Baltimore Water 5s... 1916, MAN 

Ponding 6b....^ 1916, MAN 

Exchange Bias 1930, JAJ 

yirglnla(State)Ss, new. 1932, JAJ 
Funded debt, 2-38 1991, JAJ 

Chesapeake Gas, 6s..... 1900, JAD 

Oonsol. Gas, 6s....m....1910, JAD 
5s ^. .1989.J&.T 

Sqnltable Oa<. •<• 1913. A *0 



97% 97% 



102 
117 
103 

63^8 



104 



69% 



33% 33% 
20 I 21 
14% 15% 

12J%' 

126%; ..... 

114%'. 

103% 

99%' 

105 1106 

102 

116 

10 S 

109% 



121 122 

106 

115%'116 



111 
106 
110 
104% 



112 
107 
110% 




.1 



122 123 

ioi* 

74 

61% 
107% , 
115% .... 
108 1108% 



* Price Includes overdae oonpous. 



V Unlisted. 



§ And accrued Interest. 



I Last price this week. 



JOT-T 13, 18M. 



THE CHRONICLR 



iid; 



NEW TOBK STOCE BXCHAN9B PRICES lComtlmw«i)-AOTIVIl BONDS JULY Vi AND FOR YSAR 1803, 



tUOMOXV AXD MUCBl. BoaiM. 



r,a»'.;''^S?' K«H;.^«U«M, 1895. a^,^^^oM.«=«L.BO«>..'/»ter'.i''JSi2''*^'~^^ *" ""»' 




ftHadyuf^ 1:2.! LotMtL \ Biflieu. 



\FarUHi\jHty 12.| LoweU. 



Ati A Pa« — OaAr..4K...<1937 
^tlyrElev:^n.ig..lW4 A * O 

nnlon Elev»ie<«.-«R.---1»»' ** * ■ 

BklTnWhrfAW.U-l»t,5».«.*43 f * AJ 

oJiiUSooUiern— 1«6» }»05 i * i 

34^50 1913 M a o 

nnagnl Ti IttOSiM A H 

Uh.*w j.^T>I?ri.»«;d. laoui Q-M 

A».D«ak*tBp!3«— -1021 J A J 
OMiVBlPaMBc— aold.tM.10Wt> J A J 
CkM. * Ohle.-aer. A. 6 8.1»0» A « O 



iia^t 
• ^^•% 

M 

lOd 

1W7H 
lo>« 



110>« Feb. 

6-J Mar. 

16>« Mar. 

17 Mar. 

44>*Jaii. 

86 Mat. 

Ml* Mar. 
IM^Mar 
109 Jan. 



i^MaaoL, 5 s 

wMMffal4'fla«ff. •••■>.•■• ' 
B. * A. Olr., fat ooD. . 1 .^ 



1911 A 4 O 



BlU.Lex.*BiKBau 
Ckl«.Burl. * tj.— Ouii . 

I>«MBtara.S*. 

Ql«TCniMeta....„ 

OMT«rl>lTlaloB4a i 

■•bn«liaExtan«lon.4«.lii.:: M x > 

Ban.*8UJo«.-CoiM.,d«.lUIl M A (• 
lWe.AE.Ul.— ltt,*.r.,««.lt>OT J A 1) 

OMmoL,«« 1»34 A AU 

e«MnJeoaMl..lit,S«..ll>3T MAM 
Cktaco* Krta^-IM.. 5 tf.lMi M A .N 
.5* l»w:i Oct. 



Chle.Omh.tKX-Ut,&t..lV.i- J 

CUe.MU.*8t.P.-Ooii.?*.lWua J 

lat,aoaUwwt IMT., 0*. . IMW J 

iM,ae.iuu. oiv,a*...i»iu J 

Ut.0k.*PM.W.D(T..3«.l»-il J 
Chle.*llo.BlT.UlT.,&«.l»-i<) J 
Wlae. * M1iid.,IMt., & (.Itf-Jl J 

Ta(mtBAl,Sc 1«UJ A J 

0«a.M.,4(..MrlwA...ll««v;J A J 

MaAllor.-lit,ooD.,6a.li»13:J A b 

Ckl«.*H. W.-OoiiML.7«.l»ia >^lf 

«■>&■« fiii^M 1»W * A O 

tlMUB4tmmd.6» IKM A A u 

■taklMtaa4.dataa..»«.li»Xt|MA > 
t»'yaardib«iliir«,te...l»M>M A .H 

«»t— ■>—.«« llW«lr A 1 

OUe.B.l.*Pa«.— ««..ooap.lBlT J A J. 

bMa«loaaad«eL,5«...ll»34 J A J 

ao.r«Ar4*bMtai^S«...lK<l MA F 

Ckla.«l.r.M.*0.-aa....l»3uJ AU 

CI»T«Ua4*UbAtaa.-a«..191T J A J 

UC.aAL-UoMaL.7 (.1»U J A U< 

0»WBt«0BaoL,««.....ll»34 J A J 

0.C.C.MM.L.-etoML,*».l»4O A A O, 

lt,c».ii.e,4a 1M)V| Aj>rlL ; 

kInB.— «( iwuu r A A 

ATOL— ODA.^(.lUJl MA li 

tf ^ IIW* J A D, 

r.-lat,7c.lWOu M A .S 

,• l»J<) J A J 

1 -Sf...lX37 J A J 
't..lVi\,J A U 
0.1.1,4, MA .Ml 

.<«u.4a.(.ll>'il A A U{ 



■107Vib.ilO-i>*Mar. 
t »3 50 Jan. 

limFeb. 

1114 Mar. 

11S« {111 Jan. 
107 6.101% Mar. 
t>o b. (ta Mar. 
lyj b.lllViApr. 
10» b. 101 >4 Felt, 
lid 'lb. 117 Apr. 
118 b. lltfia Aur. 
103>*Mju-. 
ao>* Mar. 
0t Feb. 
85 Apr. 
Ui Mar. 
lb. 118 Mar. 
b. 98>«Mar. 
« Vt^ Mar. 
'^b. 93>iFeb. 
I M^Feb. 
b.|ll&>aMar. 
b.ill4 June 
kllSmApr. 
I 9« reb. 
b.; 77 Mar. 
14% Mar. 
90 June 



lll^a 

sa I 

9d>s 
7 b. 
«b. 



119 
114 

125 
lOO 

■ aiHib. 
tflSib. 



•IM^n. IM Frb. 

lis b. UtHMar. 

U^>«b.ll5 Mar. 

113>a lu9>iFeb. 
'luS b. 1<M Feti. 

li>4>«b. iu7>« Jan. 

llu>ab. ivSiaFeb. 
9U b. 87 Feb. 

lid b. lie Jan. 

141 b. 138 Majr 

118 b. llu^June 
lie>*t>. lli Juna 
lUU b. IU«>* Apr. 
lifjVfb. lu5>i.M 
lu<;>«b. liMSM 
lUl b., iHt M . 
IJO a. 1 120 Jan. 
lot ,100 

97 b. ttl 
130 b. 1*3 

»'j » »a 

vii b^ in 

119 4k. 119 

81 b. 74 
17 
9-i 



Fab. 
Mar. 

r*b. 
rah, 

Jab. 
FM. 



;il3>« Apr. 
: 77UJuly 
i aOsJly 
I M'a.May 
51'-jjuiiv 
,108 M.iy 

106 M:iv 
llOeUJiuir 

IIISNJUIK' 

il07;isJulv 
Mj3 J Illy 
113 Jillii' 
121 Jan. 
U 9 Hi J line 
108 Jan. 
93 Jan. 
I14i*Jan. 
10« Jiiii.' 
1-Jl Ket). 
ll'O .M.ir. 
IIJ JiUv 
' 83''«Jilli<' 
I 98HJI1I1I' 
UO Jun.' 
lol\ J..:. 
123'4 Jtl',..' 
10{^l Jiiuf 

107 July 
96% Jan. 
U-J May 

120 >t Jan. 
UT^M-.y 
126 ••Jau. 
10U«« Apr. 
93 H June 
39 May 
96% June 
139% June 
llu<t Jiiur 
im June 
110 Juun 
1U7>< J<ln•' 
lll>• Jiiuu 

lit JllUO 

95>4 July 
1-iO Feb. 
143% Jan. 
133% Feb. 
IM Jan. 
llO%Jaa 

! .10. 

;«a. 



1.. , 
|i> 

J- , 
139 

94 
130 
134 



21 b. 

luu a 
9.1^ 
03 b 



-i».« 



19&3;m A .<■' 



Ul.4i>,ff.lU'>l r * A 
lAkAorMiJtwr.— ltt,tf(.191.vM A .% 

M44« 190W MAS 

vaOMtral.— Iat,ftg....l93->'J A U. 

iUU.Ki«v.-UI,S«..19-iO,J A Ji 

I Uaa.-Ut..3c....l9U| Q-F I 

fcaSnaAWaat. -»«... .1937 J A J, 

L•p..l•^7•.llM> J A j! 

CtaauL Muv., 34. 7a 1M>J J AU 

LmmUlmni.- la4ooa.,Sc.l931 W— •> , 

. 0»a rm t atanci«*,4g..l93« J A ul 

I««lB,AllaidL.^0Ba..Vl99^ A A O, 

■.a*M*bU«,lM.«>..193oJJ A j' 

" " td. e(..193u'J A J 

gW ^Bl.6g...^ 193W;J AU 

OaUM, 4 c l94w,J A J 

l«ah.y1.Aak.-i*^4iu..a|.-3:|F a a 



. OniraL--4g.l98: 
M. A. A Uh.— l««.Al91< 

. --ja»L,6« 1910 

to«ia.m. L. A l^xa*.— 6 g.1917 

■■BlMtiab eoaauL 4a. 199U 

Matru. t..«ral«l.-l«l,ec.l9«M 

-»«».«»• U»» 

Lliaal.— lav MnM.,7i.l9uS 

■*»!..&• laws 

^ LnkaM. A W.- U», 6 (. 193 1 
>S*M.Atapw,5c. .193 



A J 
J A J 
A AU 
F A A 
A AO 
J A J 
MAll 
MAI 
MA • 
MA ■ 

r A 4 



■laa.AaLL.-fM«OB.3a.«.1934iMA M 

B*>Ji^AB-latS«.(.,(B.t943 A AU 
- - - ... J ^ p 

FA A 



IML A Taiaa.— lat,4a,(.199u 
■■•■ha.-Ut.ouB., Of.... 1930 MA II 



A.r. 
May 

«8 >t Mar. 
— ... 88 JaB. 
11» b. 112% May 
SO%b. 79 Jaa. 
97 I 90 Fab. 
71 b.l <U Feb. 
93 b. 9U May 

•7 Jbb. 

Ml Fe*. 

»« Jaa. 
l01>«Mar 
ti? Fau. 

V7>« Mar. 

•4*«M*r. 

68 Jaa. 

9U% Feb. 
.l3<aJaa. 
115 July 
'*;42 Juuo 
il7>«Jaa. 

V»% Feb. 

u7 Apr. 
lias Feb. 
103 « Mar. 
tU Feb. 

71%Mar. 

7* Jaa. 

U Jbb. 
106 Jbb. 

93 ••Feb. 

»5 Fan. 

96 Jbb. 
lU>«JaB. 
106 M^y 
tl7 May 
l«W>«JiiiM 
lS7>aMay 
IWW Aur. 
1«M May 

•1 Jbb. 

T»%Fabw 



90>4 

7l«» 
103 <«b. 
la.<Su 
ltu<4b. 

8«J b, 

Ul>« 

ai A 

90 >4 
115S*. 
II > b. 
1 2.1 
I'Ji 

imi 

108 Sib. 
Ul a. 

118 k. 
8;i 

90 

M b. 
1004b. 
lOU 

3S b. 
loo 4b. 
110 b. 
107 b. 
lUiab. 
I(y7>«b. 
>130sibw 
113 b. 
IVl b. 

94 

87 •■ 

6-3 

•6 b. 
llO b. 



M., 
May 

JiiUl- 

June 
I 824 July 
27«iMar 
' 9'4 July 
1 94 May 
! 9H *,.r. 
1154 Apr. 

»V JllU« 

994 Jan. 

I 744 Jaa. 

93% May 

I 934 Jbb. 

I ri4Juue 

i|Ou4 June 

109 May 

I'JO Apr. 

80 Juue 

914 June 

85 M*y 

9«4 Jiiuc 

117>'i Juut' 

1 18 Jan. 

U44May 

l'j:l4 J'Hi ' 

lim Jily 

llO%M.tr. 

121 Juaa 



I04 
120 

•9 
90 



I Pao.of Mo.— Itt,ex.,4g.l938 p A A 

'■ 3dext.5« 193NJ A J 

StJ..*Ir.Mt.l*text.,5«.1897 F A A 

8d,7g 1887 MAN 

adroArk.ATexaa,7g.l897 J AU 

Oen-B'T A land gT..5g.l931 A A O 

MobUeAOblo-New,eg..l927 J AU 

Oeneralmort(nH(e,4t 193H M A t« 

Xaah.Cb. A8t.l..-lat,7«.1913 J A J 

ConaoL.Sg 192^ A A U 

■Vafl StBiob lUg.-lat. 6*. 1920 MAN 
N.Y.Oantral-I>ebtezt.4a.l90.'S .m a N 

l«t,Mapon,7i 1903J A J 

Deb«B.,9*.ooap.. 1884.. 1904 M A » 
IT. T. * Harlein. 7s, reg. I'JOo MAN 
R.W.*Ogd.,eontoL,5*.19i'2 A A O 
WeatBhOT«,i[nar.,4a....23til j A J 
N. T.OU& A8t.U-4g...l937 A A O 

N. Y. Elerated— 7i 1906 J A Ji 

N. Y. Lack. * W.-Ut. 6a.l92l J A J 

Oonatmetton. 5« 1923 f A a 

N.Y.L.B.AW.-llt.eon..7g.l92(> M A 8 

2doonaoL.6g 1969 J A ul 

lx>ngOuok,oonaol.,6a.g.l93.'> A A Oi 
N. Y. .S. U. A H.— Con. deb. at fit A A U^ 
.V. Y.Ont AW.-Re(.4a.g.l99-.- M A !< 

OoaaoL. Ut, 3a, g 193»J AU 

■V.Yjilu.AW.-Utrar..Ssg.l937 J A J 

MldlBBdolN. J.,6s,g . 1910 A A O 

NorlAW.— 100-yaar,5a,g.l90<i J A J 

.Vo. PaaUI«-Itt,eoap..eg.l92l J A J 

u«Mml. 3d. eonp., 6 g. 1933 A A u 

aeM(Bl.Sd.«oap., eg. 1937 J AU 



l,Sd,«oap.,eg 

■ortagB.Sc... 1989 J A u t 41 
Ui)LlnMtgoldnotas.6a.l89s M A M! 85 



104 '-.>a. 

1054 
1031.J 
103 b. 
101 ^b. 

824 
11- 4b 

67% 
1284b. 
101 b. 

97 b. 
103 '-b. 
123% 
10046. 
liasb 
Hi) 
lOo'i 
106 
107 

132^16. 
117 b. 
13l>,b. 

6!) 
133 b. 
111% 

934 
lOOUjb. 

99 a. 
110% 

6U b. 
llO^a 
101 

73>«b. 



taol 

Chl«.*ll. Pae., let.3g.I94u A A O;' 4' 



b. 

b. 

F A A) 47 h. 

M A 8{ 39 b 



1004 Mar. 
103 Mar. 
100 Mar. 
102 .May 

97 Mar. 

74% Anr. 
116 Mar. 

62 Mar. 

130 Mar. 
984 Apr. 
90 Jaa 

102 Mar. 
1204 Jan. 
1094 Apr. 
1154 May 
1134 Apr. 
1034 Feb. 
1014 Fell. 
107 July 

131 Mar. 
1134 Feb. 
1254 Mar. 
1 5558 Feb. 
12S Feb. 
137 Jan. 

88 Jan. 
1094 Juut> 

9) June 
1144 Junu 

484 Feb. 
113 Feb. 

81''e Mar. 

494 Mar. 

24 Jan. 



BightL 



106 June 
108 June 
103% Jan. 
104 Jan. 
1034 May 

82 >4 July 
1204 May 

69 4 J una 
1324 Jons 
103 Mar. 
i 98 June 
1044 Apr. 
I2ti June 
1094 Jan. 
{1194 Apr, 
119 Jan. 
1074 Jiine 
,10(i June 
1104 June 
130 June 



117 
jl34 

171 
131 



June 
May 
May 

JaiL 
1474 June 

93% June 
113 .May 
108 Jan. 
119 Jan. 

70 Apr. 
1194 Juue 
1034 May 

74 June 



Seat. U & A K., lat. pLtt. 193 
.Vo.RaoiaeA Mea^ 6g..l93 
.-«o.PMUeTv.0a?-6g...I93-< J A J 10-3V 
obloAMlM.— OaB.a.r.,7al89- J A j! 105 b. 
obleBoulkia lit. 6g.. .1921 J A U' 87 b. 

U«a*rBlaMrtca«e,4c...l92rM A M 34 b. 
UwahBAStLoula— 4g...l937iJ A J 41 b. 
oregoalmpr.Oo.- l«t.6(.1910 J A U 974 

CMaot.Sg 193V:A A U 314 

OT«.B.AilBT.Oo.-Ut,6c.l9U9 J A J 110 b. 

■•'* 193AJ A U,l 93 



70 
137 
138 

30 

96 
107 

81 



Mar. 
Jan. 
Jan. 
.Mar. 
Jaa. 
.Mar. 



June 
June 

a'? 

May 



Peaa.OBk— «4f..eoapoB.192i J A J 

Peo.D««,*CVBBaT. -6g.l02u J A J 

KraaaT.OlTWoB. 6g...l92u M A 8 

3da««MB,38. 192i> MAM 

PblhL * tbmL-dn^ 4 g. 1938 J A J 

lit pratlieaaB, S g. .... 1938 

■ill pn>r. iBBB ui i. 5 8 1931 

3.1 prrf. ineoBMw 5g 1938 

riiul>ur< A Wastera— 4 g. 19L7 
i:iuUr. Waal«rB-l*t.4 g.l93i» 
."I. Jo. *Or. I»Und-6 g..l935 M A .N 
^(. UA8aaPr.— 6g.,U.&190UiMA N 

6..,ataaaO 1900 .MAM 

OeMTBl aon«aca.6c..l93i J A J 

OoaA goar. 4a. g 1990 A A O 

-t. U So. iraal.-I*t. 4a. g.198.. MAM 



3d.4a.B., laaome 1989 

>4l.PJLAM.-OBk.Kx.,6g. 191U 

l(l«uBaot.,8a 193d 

•* r«da«idta44(. 

MoatBBB KstaaaloB. 4 g.193 



J A J 
MAN 
J A J 
J A J 
J A U 
A J 



8aBABi.A A.P.-lal,4c,ga.,-43| J 
8aT. Fla. A Weal.- I>I.6|(.19341A A u 
8o. Car.AOa.-I*t,3g....l919MA M 
Mo. Pael8«hAllA-6(..1909-laJ A J 

"--*"- -^. - .- A A O 

A A U 
J A J 
J 
8 
J 
M 
J 
J 
J 
J 



Jaa. 

Juaej 
June 



83 

103 



113% May 

101% May 
89 Juoa 

101 June 

123 June 

109 Feb. 

1214JaB. 

1094 Ai>r. 

iri June 

118 Jan. 

lot June 
95 June 
884May 
•44Jane 
974Jaae 

t 12 June 



.w. rMia%CML-6c.... 1903-12 

lat«aaaaL,geld.5 g 1937 

8o.PMHOI.ll.-6g 1911 

iubMMk iweoBAM., aa.i994 j a 

IL T«w. f««rg. Uaa 4-9a. 1938 M A 
B.T. V.*U.-l(t,7g...l90O'J A 

ODa.ftg 19e«!MA 

OoeniiaPaa. Ietfraa,g.l922 J A 
iCaoxr.AOklaU(8a.g.l92oiJ A 
litMk.AUBaT.eoa.«a,g.l9lAlJ A 
Waa*.Mo.Uir.lateea.<fa,gl914'J A 
reaa.U.LAlty. TaB.U.,rst,6«iA A O 
BlriBlnihaiB DIt.. 6 g. lOlTiJ A J 
raaaf*ra«l8»- lat,&g..20uv J A U 

•41a*mb*wS|- ...300. MaroB 

roLAaa Ar. AR. IL-0g.ltf2. M a M 
ri>Mi9AUUoOaat.-3 g.l93.> J A J 
rol.8I.L.*l£Ba.U-6g..l91b J AU 

UBla«Pael8o-«g 1898 J A J 

■xvala81a«flu4.li isov M A m 

OB U a wra l lrua^ 44 191elM A M 

«totd«a,euL truatauiaa.lsot P A A 
Kaa.Pae.-Ueo.UlT.,6g.l89ttMA M 

UteeaaoL.Mc 1919 

OMoaakurt LJne-6g..l922 
OrXUAUt'B "I . -uoa.aK. 19 1 w 
D.P.llaa.*<"iir.ooB.,3g.l93ti J A U 
U. a.Ooid.— I>t0i>i., 6 f..l924 J A J 
~'>.jd.. Be. 



113 
100 b. 
100 b. 

36 a. 

zs 

» 
•34 

774 
01 

1104b. 

1164 

106 b. 

• .^34b. 

814 

404 

118 b. 

121 b. 

1044b. 
93 
654 

111 b. 
97 b. 
97 b. 

112 b. 
93 

106 b. 
984 
9 1 4b. 

113 a. 
108 b. 
1124 
115 
120 
1154b. 

9tf b. 
»4 
93 
30% 

r 70 b. 
1104b. 
724a. 
1074 

90 
t 40 b. 
984 
100 b. 
MA M I 724 
F A A I 974 
A A U t 44% 
40 



.1930 MA M 



VMIatail 

WaiJBaa 11.5«. ...... ...1989IM A H 

I MaartganSg. 1939 F 

Waat. M. V. A PB.-l«t,5 g.l937:J 



1939 F A A 
A J 

r.-n. 2 .J 1-4. i{oM 11)43 A A O 

West. Un. TeL— OoL tr. 5a. 1934 J A J 
IWIaa.Oaa4.«!o.-i«t.5 c..l937'J A J 



37% 
1024A 
107 

764 
1084 

47 S 
HUH 

35% 



'20% May 

t33 Jan. 
96 June 
44 May 

106% Jan. 

173 Jan. 

1094Jan. 

92 Feb. 

93 Mar. 
35 Fab. 
67 Jan. 
18% Mar. 

9'(MBr. 
64 Mar. 

80 Apr. 

63 Jaa. 
161 PBb. 
111% Apr. 
Ill Mar. 
103 Jan. 

49 Mar. 

63 Jaa. 

164 Jaa 
113 May 
1154 Mar. 
1004 Jan. 

844 Apr. 

53 Jan. 
113 Jan. 

93 May 

86 Mar. 
1094 Jaa. 

88 Feb. 
994 Jan. 
844 Jaa. 
794 Feb. 

1114 Feb. 
10-24 Peb. 
1074 Mar. 
1114 Mar. 
118 Jaa. 
109 Pab. 

77 Jaa. 

78 Mar. 
834 Jaa. 
314 Jan. 

1 76 Mar. 

1074 Fab. 

57 Feb. 

1034 Mar. 

89 Mar. 
»8» Apr. 

•3 rab. 

lM4MBr. 

63 Feb 

88 Jaa. 

89 Pbb. 
83 Feb. 
354 June 
01% Feb. 

1044 May 
634 Feb. 

1034 Jan. 
43''j June 

106 Jaa. 
44 Mar. 



45 
I 80 
149 
'130 
41 
105% June 

109 June 
, 96 Jaa. 

I 52% Apr. 
144 May 
1004 Mar. 
1 53 Mar. 
112^Juue 
190 June 
1164 June 
IU3 May 
1034 July 
354 May 
70 Uv 

374 Mar 
344 Map 

184 Mar 

864Jaaa 

79%Jaiia 

1 634 May 

116 July 
1164 July 
112 June 

54 Jaa. 

81 \ July 

404 July 

llM^July 

lX34Juna 

103% Juue 

044 July 

68 Juna 

117 Jan. 
98 Jan. 

101 4 June 

112 June 
94 July 

110 Juna 
994Jaae 
93 July 

110 June 
110 June 

113 Juna 
ll54Juna 
1324Jima 
lie% Joaa 

93 Juna 
80 Juna 

94 May 
31''«Mar 

I S3 Jaa. 
112 4 Juna 

73 June 
107 ■» July 

98 Jaa. . 
t4d M«r I 

•84JuI]rl 

109 Juno 
78 Jaa. I 

102% May I 
53 May 
43 May 
64 Jan. 
103 June 
108% June 
784 June 

110 June 
4.%July 

HIiJuiubI 
874MbF1 



»0'l».-^b"tadleateeprtea»K/ "a" prleeatiUii; tbe range la made ap ftwa aeiiial aalea only. * Lateat prioo Uus week, t Trust looelplfc 
«KW fUVa flTUCE ftXCHAMUB etHCt»-{C»uaMmat^—mAOTIVM BONDS-JULY ta. 



tkVOKITUk. 


■M. 


Aak. 


■■ooBrrm. 


Bid. 


Aak. 


aaOUBTTUBB. 


Bid. Aak 


tellr«A9 "n't. 






Bait. A Okie ^n*, ,otd ..19W 

«.<•. owrv., gala, ba. ....m1968 
m. Pa. A 'IMa.-l«t, g., 5a..l*9« 


• 1134 


Baa. Book. A Pitts.— (ien, 5s. 1037 


974 08 








•lit 


••••. 


Hook P., ismM 1931 


121 1*3 


■—a aantoRfs A4MA/ 










Rnek. A PI tta. — Onn <i. 1 < 1, 6s. 1 933 


118 


IM .«a «M. - 1 It, g.. gaar. . 19*8 
5MwguA8t.LeB.-lst.6s iSK 






a A0.8. ft., Ut, g.,4%s...l99« 


1104 




BuB. ASuoqueh.- Ist,9s. (..1913 
Burl Osd. UAp. A No.— ist,8e.l9VM 


98 






WaaoB. R<Tf r, 1 nt (..g. As.. .1919 






106 •a 1064 


to« 


•*•*> 


JeaflOblo Keor.-I>m44*.19>0 


104 4 




OoaioL A ooUak tniat,5s...l9S4 


, 07'« 


." 'ii ..».4.,«. 1M6 






Ak.A Ua.JaD«. - Ut.«.3a.<(n. 1930 


103 


>••■ 


Mlno A8t. L.-lsk,7s,gn..l9*7 
Iowa O. A West.-t«t, 7S....1909 


133 


Aw > an. 4a, 1907 






3».w»« Cla •tMl-^'l %• KtIA 


78 


no 


106 


Wtab m DI*1«loa inroma. 19lii 

laii 


4V 8e ■MeABa-Ut.(t.5*giLl943 


87- 




Hed. Rap. 1 r A ■( . )<t. <ls.l9S0 103 ...^ 



64 



THE ( HftONlCJiK 



fVou LXL 



N&ft fO»l STOOi BKUHANtiE eH.WIiH.-IlfAOTIf^B BOefOa—rUantinuedJ—JULY Vi. 



SKOURITIKS. 



Bid. Ask. 



O.Okla— 00l.*Cln.M.lat.4>«a.l93£ 
UML BB. 4 Bjnk.-CoL f.5».l»37 
Oeat. of N. J.— OoDT. d«b., 6*. 1908 
Oentnl rMltte— Ctald bd*, 6«, ^ f)9S 

lioM joadt, 6« I8i6 

Oold Dondi^ 6« 1897 

Ban Jaaaaln Br.,ea 190U 

Mart, fold »» 1939 

L»a<t «rmnt. »•. « 1900 

CaL AO. Ulr.,ext., «.»«.. .1918 
WMt PMIIlo— Boods,e*....1899 
So. 8»llw»y (0»1.)— lit, 6». 1907 

so-rear 6« 1938 

ChM. i O.— Pur. M. fund, 08.1898 

Kjnig Valley— lat, g., 58....1940 

Warm 8pr. V»l., l»t,g. 5*..1941 

O lai. O. A 8o. Wett.— 1st 6«, g. lull 

td,e« 1911 

Oh. V.~Oen.oon.lst.Kn.g,Sa.l93B 

Oiloago A Alton— 8. F., 6a. ...1903 

LooU. * Mo. Blver— lat, 7a.l90O 

fd, 7a 1900 

Bi.l4. Jaoka. <k Chic— 2d, 7a. 1898 
U1M.B. Bridge— lat, a. (., es.l91-.2 

Ob«. BorL A Nor.— lal, 5a 1926 

Debenture da 1896 

Ch «. BorUng. * Q.— &a, a. t..l901 
Io;ra DlT.— Sink, tuod, 5b. .1919 

ainkiiigtand,4a 1919 

nalli.4a 1921 

Chlcagu A Iowa UIt.— 58...1905 
Chic A Indiana Uoai— lac 5s. 1936 
CU. MU. * Bt. P.— lat,88,P.D.1898 

a(t,7S-10e, P.D 1898 

lit, ?•,«>., B. 1902 

ImL* M.,7s 1897 

lit,!.* B.,78 1899 

Utfi.A M., 7a 1903 

lit, L AD.£iteiulon,7B...1908 

Ut, La C. A Dav., 5a 1919 

lat,H. A D.,7b 1910 

Ut, H. * D., 58 1910 

Oiiiea«o & Paoltlo Div., 6a. .1910 

Mineral Point DIv. 58 1910 

a * L. 8up. I>lv., 58 1921 

Vargo * Boath., 68, Amu. ..1924 

loo. OODT. alnk. fund, 58 1916 

iMKOUAGt. South., 58. ...1916 

MU.& Nor. main llue— 68.. .1910 

Chlo.*Norw.— 30-Teardeb.5f.'.a21 

Msoanaba A L. 8. Ist, 68 1901 

OesM. <k Minn.— let, 7a. ...1907 

Iowa Midland— iBt, 8a 1900 

Panlnatila— lat, oouv.,7a...l898 
Ohle. A Milwaukee— lat, 7a. 1898 

Witt. A at. P.- 2d, 78 1907 

MO. * Mad.- At. 68 1905 

Ott. O. P. & 8t. P.— l8t, 5b. 1909 

■orthern lU.— lat, 58 1910 

MILL. 8.AW.—Con.deb., 58. 1907 

Mich. DlT., lat, 68 1924 

Aahland Ulvlslon- iBt, 6a 1925 
Ch.K.L<kP— D.M.dkf .D.l at 48. 1905 

lat, 2'«8 1905 

Extension, 48 1905 

Kwkuk diDea M.— lat, 6a.. 1923 
Chlo. 8t. P. * Hlnn.— I8l,6a...l91g 

Bk Paul AS. C— lat, 6a 1919 

Ohio. A W. Xnd.— lat, a. t., 68.1919 

Oeneral mortgage, 6a 1932 

Oa Ham. AI>.— Oon.a.t., 7B.1905 

ad, gold, 4>M 1937 

Oln. D.AIr'n— latiKU. 58,g.l941 
OleT. Ak. A CoL— Kq. A 2d 6s. 1930 
aC.C. A 8t. L. , Cairo dlv.— 48, 1939 
ai,.L0a.OlT.— l8tcol.t8't48,g. 19iH> 
Bprlng.&CoLDIv.— lBt,(5.48. 1940 
WhlleW. VaLUlT.— l8t,g. 48. 1940 
Olii.Wab.AM.Dlr.— Iat,g.4!i.i991 
On. L at. L. A C— lat,g.,48.l936 

uoaiol,6s 192U 

Oiii.aaii.ACL— Con.l8t,g.58, 192b 
.Col.Cln. A Ind.— 1st, 78,8.1.1899 

OonaoLaluk. fund, 78 1914 

Cln.ASpr.— l8t,C.C.O.AI.78.1»ol 
Oeve. Lorain A Wh.— 1st, 58.193.J 
Clere A Man. V.— Uold,5e...mi{H 
Colam.A9th ATe.,l8t,g.58,gu.l993 

DeL caoa. A W.— Jioru 7o 19U7 

Byra. Blng. A N. V.— lat, 7B.1906 
MorrlBA £aaex— lat, 7a. ...1914 

iM>nda,78 i9ckj 

7»of 1871 1901 

lat,oon., guar., 78 1915 

Warren -2d, 78 i»oo 

D.All.Lan.-Pa. Uiv.,ooap.78.19i7 
Albany ABuaq.— Iat,gu.,7al906 

Ut,oon8., guar., tta i9oti 

Beoa. A Bar.— lat, coui>., 7a.l821 

Deav. Tramway— CouB, 6b, g lyio 

MetrouoL Ky.-l»i,gu. g.6».1911 

DeUM. AU.— L. g. aHBjBer.A.iail 
uuiuth A Iron Baage— lai 68.1937 
Brio -iai, extended, 7a 1897 

1! 1, extended, 6a 

31, extended, 4<as... 

4ib, extended, 6a !" 

6U1, axlended, 4a 

Ut,ooi>.,g. f'd,7a 

Keorg., iBt lien, 6a 

B.*. Y. AK.-iat,7a.." 

«. Y.L. t. AW.-Fjd. oou. 6e;i960 

Ool. trust., 6a iSon 

Iff. Ab. W.-Mortg. 6a....l»0b 

Dock & liupt.,latOe, our'oy.l9l3 
trane. AT.U.— iBt,»on8.,6e..l921 

lal, general, g., 5a lyia 

ML Vernon lat 6b.. .. iu-2i 

Fn!^?AP m'"'"-"^"'' "OM-1926 
Jlint A P. Maru.— Mort>. «a..i»v!ii 



90 
112 

lot 

103 
103 >a 
106 

•96" 
103 
106 



92 
105 >a 



106 
100 



110 
47 

lYsia 

114>a 

109 

1U6 

lObhi 

105 



108 
99 



113>« 



•105 
'124 
103 •* 
•117 



106 

110 
■10;* 
'lu5>a 

116 

1U9>« 



'120 
■119 



..1919 
..1923 
..192U 
..1928 
..1920 
..1908 
..1916 



108 % 

1271% 

114 

107 

107 



137'* 

"sT 

61 

io£i« 

129>« 
'129 •« 
107 
116>« 

lis 

100 
lU5>a 



03 



"88 
■^6>* 

'i'lO 
112>« 
125 



llU^ 

130 

127 

I4l>« 

114 

119 

140 

115 

l43 

127 >» 

119>« 

14213 



84 

20 

96 

106 >i 

lis 

109 
116 
100 
'133 
110 
134 
•65 
106 
•97 
101 

•loi""* 



115 



116 



106>4 

lbs' 



91 

loo' 

US 

123 •« 
123>l 

lisVi 

128«» 



125 



106 



105 



110>« 



65 

ios" 



90 

ioo" 



116>i 



no's 



142<a 



128 



26 
96 >* 
107 



117 
102 



111 

ioi' 



112>s 



aECXTRrriEB. 



F.AP.Marq. atoon. gold, 68.1939 

t>ort Huron- lat, Sa 1939 

/la. Ceo A Pen.— lat g. 68.. ..1918 

iBtoon. g., 5a 1943 

ft. Worth A K. O.— lat g., &a..l928 
Sal. Har. ABan Ant.— lat, 6a. 1910 

2dmort., 7e 1905 

Qa. Car. A Nor.— lat, gu. Sa, g.I929 
Urand Kap. A Ind.— Oen. S8..1924 
G. B.W. A8t.P.— 1st, con. 58.1911 

2d Inc. 48 1900 

Housatonio— cons, gold 68.... 1937 

N. Haven A Derby, Cons.5B..1918 

Houa. AT. C— Waco A N. 7a..l903 

lat g., 6b (Int. gtd) 1937 

Cona. g. 6s (Int. gtd) 1912 

Debent. 69, prin. A int. gtd.1897 

Debent. 48, prIn. A int. gtd.1897 

nilnolB Central— 1st, g., 4a ...1951 

lat. gold, 3>ss 1951 

Oold 48 10S2 

Cairo Bridge— 48 1950 

Bpnngf. Dlv.— Coup., 6».... 1898 

Middle Olv.-Beg., 5a 1921 

O. St. L. A N. O.— Ten. 1., 78.1897 

lat, conaoL, 78 1897 

Oold, Sa, coupon 1951 

Memp. Dlv., Istg. 4b 1951 

Oed. Kails A Minn.— lat, 78. . 1907 
Ind. D. A Spr.- let 78, ex. op. 1906 
Ind.D.AW.— 2d, Ss. g.,tr.reo..l948 
Ind. Ills. A Iowa.— Ist, g, 48.. 1939 

Ist, ext.,g. Sa. 1913 

Int. A U. N'n.- 3d, 48, g 1921 



• *u pnoe i-riday; Uxomt are due iato«t uiwtaoiomr made tlua 



Kings Co.-F.£l.,lBt,.5,g.,gn.A.1929 

!8t.— 2d tf 58.1941 

L. 8. A M.80U.— B. AE.— Hew 78.'98 

Det. M. A X.— I8t, 78 1906 

Lake Shore— Div. bonds, 78. 1899 
Kal. All. A G. K.— Ist gu. 5e. 1938 
Mahon'g Coal KR.— Ist, 58.1934 
LehlghV.,N. Y.— Ist gu.g.4's8.1910 
Lehigh V.rerm.— 1st gu. 5s,g.l941 
Lehigh V'y Coal— Ist 68,gu.g. 1933 
Lex Ave.&Pa. Fy.,lBt,g.58,gu.l993 
IJtohl.Car.A West.— ist 68.g.l916 
Lltllo Kock A M.— Ist, 58, g..l937 

Long Island- 1st, 78 1898 

Ferry, 1st, g., 4>ts 192^ 

Gold 48 1932 

M. Y. A E'way B.— lat, g. 58 . 1927 

2d mortg., mo 1927 

H.Y.&Mau.Beaoh.— l8t.7s, 1897 
N.y.K.&M.B.— lslcon.5s,g.l935 
Brookl'nAMontauk— lBt,68. 1911 

let, 58 1911 

No. Shore Br.— l8tcoiL5s,g.l932 

Loui8.£vans. A St. L. — Cou.Ss. 1939 

Louis.ANash.— Cecil. Br. 78.. 1907 

E. U. A Nash.— Ist 6s, g....l919 

Pensacola Division, 68 1920 

at. Louis Division, Ist, 68.. .1921 

2d, 38 1980 

Hashv. A Decatur— lat, 7b. .1900 

8. f.,68.— 8. A N. Ala 1910 

10-40, gold, 6s 19'24 

SOyearSa, g., 1937 

Pens. A At.- ist, 6s, gold. . . 1921 

Collat. trust, 5b, g 1931 

Lou.N.Alb.ACh.— Ueu.m.g.58.1940 
Memphis A Chari.— 68, gold. . 1924 

1st con. Tenn lien, 78 1915 

Mexican Cent. ConsoL — Is, g.l91i 

1st, cons. Income 3s, g 1939 

Mei. luternational— Ist, 48,g.l942 
Mexican Nauoual— lat, g., 6a.l927 

2d, Income, 68, "A" 1917 

2U, Income, 68, "B" 1917 

Miolilgan Central— 68 1909 

Coupon, 5s 1931 

Mortgage 48 .'....1940 

BatCASlrgis.- Ist,38,g.gu.l989 

MlumA St. L.— 1st, g. 7b 1927 

Iowa Extension, 1st, 78 1909 

Southwest Ext.— 1st, 78 1910 

Paoillo Ext.— let, 68 1921 

Mo.K.ATex.— lat, ext, Sa, g.l9i4 

Mo.K.Ar.ofl'ox.lsi,gu.S8.g.ls»42 

Kansas City A P., Isi,48,g..l990 

Dal. A Waco— 1st, 58, gu.... 1940 

Missouri Pacilic —Trust 68.. .1917 

lstooU.,58, g 1920 

8t L.Al. M.-Aik.Br.,l8t, 78.1895 
Mobile A Ohio— Ist ext., 68.. .1927 

St. L. A Cairo —4b, guar 1931 

Morgan's La. A I.— Ist, 68 1920 

1st, 78 1918 

Nash. Chat. A Sl L.— 2d, 68.. 1901 
N. O. A. No. L. --Pr. L, g., 6b.. 1915 

N. Y. Central.— Deb. g. 4a 1905 

.U.J. June— Guar. Ist, 48. ..1986 

Beech Creek- 1st, gold, 4s.. 1936 

Obw. a Home— 2a, 5s, g.,gu.l9l5 

Utiua A Hi. KIv.— 48, g., gu.l922 

N. Y. A Put.— Ist, g., 48. gu.l9»3 

N, Y. N. H. A H.-lst, re». 43. 1903 

N. Y. A Northern— l8l, g. 5a.. 1927 

N. Y. Busq. A West.- 2d, 4J«a. 1937 

Gen. mort.,58, g 1940 

WUk.A East —lst,gtd.,g.S8. 1942 
Noruicru rac— Divia'u ocriu exi 
James Klver Val.— Ist, lis. . . 1936 

Bpokaue A Pal.— 1st, 68 193« 

Bl.Paul A N. P.-Gen., 68.. 192.1 
HelenaAKod.M'u— l8t,g.,6s 1937 
DuluihAMauiloba— l8L,g.6al93y 
DuLAAlau Dak.Div.- 1^168.1937 
OtBur d'Aieue— l8t, 6s, gold. 1916 

Gen.l8i,g.,6a 193,, 

Cent. Was uiagi«a-l8(,g.,68.1938 
Norlolk A South'u- Ist, OB,g 1941 
BorlolkA Weal. -cieneral, 68.1931 

New Kiver ist, 6a 1932 

Imp. A i!:xi.. U s 1934 



Bid. 



89 
88 



'd6t 

101 

103 



3>< 
122 
113 
120 
109 >« 
108 
90 
•78 



'loot 
103 >• 

102 
113 
'107 ■• 
107 <• 
118 

iijo" 



81 
94 
32 
71'a 

'lost 

102 1 
'127J^ 
113 

i'liii 
101^ 
110 



S9 



60 •• 
104 



109 f 
86" 



140 



84 
97 
34 
75 
lv4>t 

128>« 



102>< 

111)3? 



•IIO"* 


not 






109 






94t 






•37 •• 


43 




103 


'101 








102 


^ 


3»'8 


40 


•1081* 




110 




106 




125 




67 




not 


• ■•• 


108 




lom 




luO 


103 


103 




106>< 






75 






100 




, 




73 





118^ 
•117 
102 1 

iSd 
123 
1^3 

118 

90 

87t 

76 
*c6% 
•80 

io3t 

■83" 
•109 
•125 

ios' 

102 1 
•luo 

•104^ 

•iba't 

•104 

i'lst 
•si" 

•89 
60 



122 
10 
76 
75 



106 
118 
110 



8% 



124t 



92 
88 
76t 



8J 



120 
81 
90 



80 
12Jt 



116 



BECnRITIES. 



Norf.AW.— idlustmentM., 781924 

Equipment, 5s 1908 

CliucTi Val. iBtSs 1957 

RiiauokeASo.— 1st, gu. 58, g.l922 
Bulolo Val. A N. E.— l8t,48..19!>0 

Ohio A Mlss-CoDSol. 7b 1898 

2dC0U80l. 78 1911 

Bpring.Div.- Iat78 1905 

General 58 1932 

Ohio Blver KB.— Ist, 5a 1936 

Gen. g.,5a 1937 

Oregon A Callfor.— lat, 5s, g.l927 
Oreg. RyANav.— Col.tr. g..58.1919 
Penn-P.C.C.A8t.L.Cn.g.4tsA1940 

Do do Series B 

P.C.A8.t,.-lBt,0.,7B 190<J 

Pitta. Ft. W. A C.— 1st, 78... 1912 

2d, 7s 1912 

3d, 7s 1912 

Ch.8t,U AP.— Ist.con.Ss.g. . . 1932 
Olev. A P.— Cons., a. Id., 78.1900 

Gen.4t8,g., "A" 1942 

at. L.V.AT.H.— l8t,6B.,7B.1897 

2d, 78 1898 

2d, guar., 7a 1898 

Gd.R.AI.Ext.— Iat.4t8,0.g.l941 

P60.AE.-Ind.B.AW.-l8t,pt.78.1900 

Ohio Ind.AW.— lstpref.58..1938 

Peoria A Pek. Union— Ist, 68 .1921 

2d mortg., 4^3 1921 

Pitta. Cleve AToL— let, 68... 1922 
Pitta. A L. Er.— 2d g. 58, "A". 19-28 

Pitts. Mo. K. A Y.— Ist 6s 1932 

Pitts. Painsv. A F.— 1st, 58. -.1916 
Pitts. Shen. A L. E.— l8t,g.,58. 1940 

1st cousol. 58........... 1943 

Pitts. A West.— M. 5s,g.l891-194l 
Pltt8.Y''g8t'nAA.— Ist, 58,con.l927 
Klo Grande 80.— 1st, g., 58... 1940 

St. Jos. A Gr. I8.— 2dino 1925 

Kan. C. A Omaha— Ist, S3..1927 

St. L. A. A T. H.— Term. 58.. 1914 

Bellev. A 80. 111.— Isi,, 88...x89t) 

Beilev. A Car.— lal, 6s 1923 

Ohi.8t.L.APad.— Ist,gd.g.58l917 

at. Louis So.— Ist, gd. g. 48.1931 

do 2d income, 5s. 1931 

Oar. A Shawt.— 1st g. 48 1932 

at. L. A S. F.— 2d 68, g., ol. A. 1906 

General 5s 1931 

1st, trust, gold, Ss 1987 

Kan. City A 8.— l8t, 6s, g. . . 1916 

Ft. 8. A V. B.Bg.-l8t, 68...1910 

Kansas Mullaua— 1st, 48, g. 1937 

St. Paul City Ky, con. bs, g. . . 1»37 

Gold OS, guar .,1937 

at. Paul A Duiuih— l8t,5s....l93J 

2d mortgage 58 1917 

St. Paul Minn A M.— Ist, 78.. 1909 

2dmort.,63 1909 

Mlnueai). Union— Ist, 68 1922 

Moiit. Ceu.— Ist, guar., 68.. 1937 

Ist guar. g. 5s 1937 

East. Minn., lat div. 1st 5a. 1908 

WilmarASiouxF.— Ist, g,5s.l9J5 

Ban Fran. A N. P.— Ist, g., 58.1919 

Southern— Ala. Cent., Isi 68.191b 

AU. A Char.— let, prel., 7s.. 1897 

Income, 68 I9uu 

Colum. A Green.— Ist, 5-68.1910 
E. 'eQU. V. AGa.— Di/18. 18 1930 
Kloh.A Dan.— Eq. s. f. g. 3s.l9o9 

Debeu. 58, stamped 192; 

Ylr'a Mid.— Serial ser.A, 68. 1906 

Series B, 6b. 1911 

Seiiea C, 68 1916 

Series D, 4-ds 1921 

Seilea K, 5s... I9'2t> 

Series F, 53 1931 

Wash.O.AW.— Ist oui-.gu. 43.192* 
Ter.KU.A8'u of St.L.-lst,4ts.l939 

lat, con. g. 6s 1891-1941 

St.L.Mer.tlr. Term ,g.a8,gu..l93u 

Texas ANew Orioaiio- l8i.,/8.190o 

Sabme Division, Ist, 6s 191:.! 



Cousol. 58,g 1943 

Tex. A Pac., E. D.— 1st, g. 63.1900 
Third Avenue (N.Y).- let Ss, 1937 

ToL A. A. A Gad.— 68 1917 

Toledo A. A. AG'dTr.- g. 68.1921 

ToL A. A. A Ml. Pi.— 6s 1919 

ToL A. A. A N. M.— 58, g 1940 

T.AO.C— Kau.AM., Mort. 48.1990 
roLP.Art'.— lst48,lno.rd.oou.July 
Ulster A DeL— Ist, oon., 6., 08.19:^0 

Uuon Paoillo— iBt, 6b ..1890 

1st, 68 189 

1st, 68 1899 

Collateral Trust, 68 190o 

Collateral Trust, Ss 1907 

Kantas Paoldo— let 6s, g...l895 

1st, 6b, g 1896 

0. Br. U. e -P. 0., 73 1895 

Atoh. Col. A Pac.— 1st, 6s... 1905 
Atch. J. Co. A W.— 1st, 6s.. .1905 
U.P.Llu. ACoL— l8t,g.,58. 191a 
Oreg.S.L.AU.N.,coLtr8t.,5s.l919 

Utah A North.— iBt, 7s 190s 

Gold, 58 1926 

Utah Souihem— Gen., 7a ..1909 

Exten., 181,78 1909 

Valley K'y Co. ol O.— Con, 6B.1921 

Debenture, Ser.A 1939 

Debenture, Series B 1939 

Det. AOmo. Ext. Isl, Ss, g..l94u 

at L,.K.C.AN.— B.KAKK.V8.1B9D 

8t.Ch arles Br'ge— lst,68. . . 190b 

West N.Y.A Pa.,geu.g. 2-3-48 1943 
luoome OS Ij43 

Aesk Va. C. A Pitts.- lal, 68.1911 

Wheei.AL.E.— let. Ss, gold. ..192b 
Extension A Imp, g., 5s...^.l9bO 

Wis. Cent, income 38 ...1937 



Bid. 


Ask. 


•75" 




•65 


63>a 


83 




105 




•118 












82 


• »>•« 


But 


-.-.. 


109\ 




•109% 


^ 


* . 


139 


•130 


■••••■ 


M37 


••■••a 


•130 




116 




•117 




•110 




*ior 






^, 


* , , 


lilt 


•110 




-■•> 


>>■■• 


113 




65 




108 








* 


98 


85 1 


88 




78 










104t 





'104 


...a 


•100 


106 


102 




•85 


90 


•60 




'80 




11638 


• M 


93 


U5 




02ifl 






IOO 


...... 








..•»• 










•tio 




118\ 




•115 


>■•■■ 


116 


llO*a 


102 




103 




• -■>■ 




100 




'lu2 






....M 



109t 
li2 

93 

98 1 



79 "4 
•76 
100 
lo6»b 
luo'g 
107 
'94 
•74 
100% 
107 1 



100 
99 









.-•» 








...•■• 






lUO 


...>■• 


99 




103 


__^^^^ 


110 


,„ 


110 


...■• 


•95 






....•• 


119 


122 




69 


SO 





40 
40 
40 

*27 

loo 

■b4 
*3o 

*o6 



27 
96 1 

103 .« 

106 

4714 

iat 



79>9 
107~ 



42'* 
4lt 



65 
66 



29>4 
97 
luS 

47t 
18'>g 

104~ 

92 



weet. tror .(ttai>«Uii.a«<iua mu4 OuUsiea <tuua«.— See 3d page preoediug. 



JULT 18. 18»5.] 



THE CHRONICLE. 



65 



luucstmcut 
ilailroad lutclUgeucc. 



RAILROAD 

The following table sbowg 



WmkarMo 



T 



-lApril.... 
. jftottarr. 
>l»jr. 



.lAprtl. 

UQii 



1895. 



1804. 



Adlnmdaek... 

Ala. Mldlaixt 

AUaChsair Val. 

Aik. Mldlaad.. 

AMh. T. * 8. ra |4tli wtbToe 

m. L. * San r.|«Ui »kJ*De 

AtUaUoA fikc itliwkJ ne 

Ac<. tutai k I b wkj'na 

Alaaaia«W. P April 

IW« * Daov.. lUiwkJ'De 

AiMta * ViraM May. 

BtAXXKarMUpw Mar 
WaMara Uaa* May. 
Itoul Mar I 

■iLAO.Iknt'v.. iMwkJuljr 

Baa«iir*Araa«t. aprtl 

Balk* OaM'Ms ApcU 

Btr.AAUaatte.. Jane 

BrooklrBBav.. titvUnlr 

BraaaVkkWaai Jaananr... 

B«CRaek.*Pltt Uork/ulr 

Bar.aSap.* > . I Itb wkj'aa 

Oi»ilia « AU.lJtar ~. 

OtaadiaaPaotSc! ut vkJoljr 



• 

11,181 

47,(MO 

310.601 

6.577 

978.031 

133.433 

80.616 

8S0.M4 

33311 

8306 

30.387 

. i.376.9jri.': 

4 



• 

10,96: 

S7.131 

135.3*3 

6.013 

900.427 

130.!><W 



Jmn. 1 1» hmfH Dale. 



1895. 



1894. 



Okr.llldtoad 
Owil. ot Oaorna 
OmtnlttM.].. 
QMini PafltOo.. 
flfcariMr»*ilaT, 

OkM.*Oklo.... 
Ok*a.O.*d«.W.. 
Ola. Bar. A No 
,8ar.A 



2i 



WaagoAKrta 
&la.O«.ir«ara 
Okla.lIlL*M.P 
Okta.Aruw'B. 
QUa. PaoA^LL 
5i&VkI.*P.. 
CfetiuH.P.M.*o. 
OkU*V.Mtok 
OhaaLOkLAUM. 
aa.Oa.* Porta. 
aB.AIUal.aoa. 
OU. Jaek.* Mae. 
OUkM.U.AT.P 
Ala.Oi,aoMk 
.V. OrtAN.B. 
AlA.AVMaA 
VMi^M.*P 



J 

Mar 

Mar 

April... 

Jaaaarr. 

Mar...:. 

iMwkJnlr 

June 

Mar. 

Mar. ^ 

latarkJiUy 

Mar 

Jun« 

Mar. .^. 
4tiiwkJ'Ba 

June 

Mar 

4MwkJ'Ba 

Marak 

Juno . 

Mar.. 

iMwkJuIr 

3d*kJ 

34«kJi 

SdvkJoaa 
itdwkjr^ 



CUl.PB(«a A V 
OlaT.AkioaAOo 
OleT.0ka.A6e.. 
CLOU.Ok.*at.L 
raa-ABaMTa 
gLLor.*Wkaai 
OaLMMIaM.... 
OeLM.V.*t>M 
(M. iMd'T A U. 
OalaMALaka . 

oSaTl'dValier! 
OeoT. A Hlo lir 
l> et La a a'tAWo 
Uot-AMaektnac 



34.0IU 
M.614 



1.6MkM61.0< 



1.073^1 
S9U41 

UMI6 
190.516 
136.667 

3.477.301 

65.^00 

164J76 

3t»9.370 

513.901 

3.40l.4» 



l4SMn 
51 



MwkJaaa 10BM6 



Jnaa 

llkwkJ-M 

4(kwkJ*aa 

itkwU'aa 

Mar 

uivkJalr 

tikvkApr. 

Juno 

4U wkJ'aa 
Jona 

&;?':::::: 

latvkJoJi 
tm WkJ'aa 
AprU 



"•(.•■aennac Apru 

MaUu>.a.«Au. 4(k vkJ*aa 



\ 



Mar ., 

.'tm WkJ'aa' 
.M«r. 

JUIM 

licwkJolr 
. l>t«kJu;r 
. UtwkJalr 

utwkjiiir 



3t 
81 



Ui 



7A«t3 
6.664 

3.349 

ii.omI 

60.UV"' 

16.00- 

U.0O 



1< 
1« 

IJ-'.- 
*.61«.J1< 
e,7«;<' 
17J -.r . 

31. 

«>; 

1 

6u 
3 
5 



31.391 
33J»4 
•0.M6 



uojno 



45.373 
176.97* 

34.1 -- 



iaft.Me 



9», 
63,W7 
•0.M6 
4.047 

3.134 

18,144 

56.490 



6.0IM 
07/WO 
34.543 



17J70 

m»,ocm' 

U8,*6l 

t7.e«« 




*S.M7l 

•M07, AKSWI 



■TMe.A 

fraOA* Btoh. I4ltiwkj-|u< 
• ■■Aet.AT. H llMwkJoIr 
riAtUarPtWAWlJaaaarT. 

VltMbarj Mar 

PUalAP.Marq ItiiwkJ'oa 
PM.Oai.A Paalbl tat «k Jaa 
yiW. * Klo Ur I lat wkjatr 
Oada. A Ati. U " 

S^Obr'U AXo 
Uoo.te. A ria.. 
«»• Ban. A Ia4. 

aa.ft.AFl.W 

Ttararse Citr 

llaa.U.&AI 

Tot. all Una* l«l wkJuIr 
9lBki Traak... Wk Jitlrtf 

OHa. A Or. Tr. Wkjuaa33 
_VM.Or.HUkM. WkJaaa33 
OMM HorU'B- 

M,P.M.*M Jan* l/>91,m' 

■WtofMlao. Jiiue 10r7.181 

■•MaaaCaaL June i 146JM9 

Tovarelam. Joae >I.S45.A31 

Sair a < :iii«a«i>. Jane I 6.100 

■oo>.Ttia.Airu.,Mar I 4.604 

Bona. K.AW.Tea' Juno * iSSSu 

Biui>.«i'DAahaM<Jiina I 6300 

nuaoi* r>8tral Joaa M09.S67,1 .337,336 

lad. bM.AWeat. ilkwkJ'nai 8.760 7.551 
Jud. Ill A Iowa April ..... 65.071 60335 
t M.McWA'a latwkJalf' 50,6M 43,483 



S.378' 

55.569 

a4>4,834 

50.184 

33,036 



•.3M 

96S' 

3.806 

44.a»7 

8IS.«UO 

56.353, 

19.150; 

77''.--- 

li'V 

3.«09 

4.0U7 

86.3O0 

9.13.1 



/44.414 
ItU.TJ'i 



'.0OI> 
..-„A~ ..(1,000 i 

aklu8.il0Ot 3.016.000 
lS0.3r6 117.(10' 
444.450 4'J !.>>>. 



5S6.730 
19.3.V3. 

M3.544 

46.4M'. 

SWVBM 



4u.t.'ilJ 

':i.u:i 

l;i.'.7.-.i 

.V> t.>i •« 



S,760.a-i4 
1.31 3.04.) 



17K.T70, 

3.3-it 

V7S.353 

•07.373 

V015.T30 

317,51*0 

£3.4.%3 

e3.i7-< 

IJ17.9U« 

6J)7i.iX>» 

1.37U,(»49 

439.3 !«1 



e,3-'i,i;n» 

3u.33i 

19.708 

340.97V1 

45.900 

9.319.428 

-.114.981 

373.104 

1,798.347 



1J1..I7.1 

•I . .,-, 

61 : 

3'.< 
4: 
»J 

11' 

4 
1,1 

H.'.T 

l,3»i»,'.,-/ 
440,330 ' 



IK.-'..; 

II. MU 

189.-7H 

8,317,325 
ir,i,H45 
aHJ.H77 

1.4iX).i>.)3 



BOADS. 



LaUM Bwmintt JUporttA. 



iraekorMoi 1893. { 1894. 



Jan. 1 10 Latut />a(t- 



EARNINGS. 

the groiu earniai^s of Uniteil 
StatM railroails (aod alao a few Mexican and Canadian roarlB) 
for the latevt period reported. The statement includes every 
roAd from which reguUr weekly or monthly retum^i can be 
obtAioed. The first two culamos of flKUrea rive the gnws 
eaminKi) for the latest week or mouth, and the last two col- 
nmns the eamin^^ fur the calendar year fro-ji January I to 
■nd including such la'Mt week or month. 



1 


9 


1 ff7.300 


53,461) 


47.0»0 


57,131 


9«2..'^2I 


Tn^^.-yxt 


3 1' 


. ; I 


U,fi; 










■ 



: Interoo. (Max.) 
lovaOeotrai — 
iron Ballwar... 
jaakT.AK. W. 
Jameat'n A L. E. 
KanawhaAMiol. 
K.aF.8ooctAM. 
K.aMain.ABlr. 
Kan.aN.W.... 
CaD.OlA Beat. 
K.a Pitts. *o.. 
KaB.C. Sob. Salt 
Keokuk A West. 
L. ArtoAU.*8o. 
L. Brie A West.. 
LehlkkA Hod.. 
Long Island..... 
Los. Aug. Term. 
Ix>iils.BT.ASt.U 
LoolaT.ANaataT. 
Laala.N.A.ACli. 
LoaSCUATez. 
MaeonA Blrm.. 
MaalatiqiM. 



WkJiine22 
latwkjulr 

JUUH 

Mar. 
April 
latwkJulr 
IthwkJ'ne 
4tb wkJ'ue 

June ' 

Juue 

latwkJuly 
4thwkJ'uu 
4th wkroe 

June I 

iRtwkJuly! 
June 



S I 
40.700 
29,798 

3.767, 
26,5B4' 

3.578 

7,788: 

76.9 -13 

19,133 

17.0i9; 

34d' 

6.7 J8, 
lO.lSS 

C,»00 

3,UtlO 
59.35-J 
34,09S 



1893. 



1894. 



Mi»r 363.141 



MessphisAOhsa. 



June 

latwkJiilvl 

latwkJuly 

latwkJiilrl 

UtwkJitly 

June ' 

June I 

3tlwk June 



Oeat.. utwkjuir 

Mextaaa iBlerO. Mar 

:Maz. Hatlonal. utwkjuir 

MacNonaem.. M»r 

tMadeaa B'war, WkJuno'^K 

M a tVi aa do xtwk June 

Minneap. A St. L. 4 1 li wkj'ne 

Ma Kan. A Tex . 1 1 At wkJulr 

Mo.Pae.Aln>n M l at wkjolr 

Oaatrjl urtui. utwkJulr 

Total lutwkjulr 

MoMleABIrm.. lixwkApc 

.MoMiaA Oluo.. Juuu 

.Moat.AMas.OU. June , 

Vuh.ClLA0LUJd.4r S88.066 

>»daOso«»»rApril ; a.374 

larwtrAIf.Y. March "" " 

r UrLAte'n. June 



9.871 

34.1K1 

375,733 

3-J.7US 

7.JJ3 

4,7B!j 

12,437i 

1>».737| 

146,1 'J7 

3J3,483l 

7J.197I 

6l.»70: 

04.U13 

9.480, 

40.4Se 

ie3..4i4 

3I'.>,OU0 

8,000 

S'JO.OOO 

0.4311 

3^5.967, 

95.00>iN 

Fa^O AAA' 



8 < 
41,7961 
23,'2l2 
2,lll' 
58.'39 
3,123^ 
6,407 
91,479 
2I,3.S0 
19.173 
H'»7| 
9.O60I 
7.637, 
7.3771 
3.370 
34.379 
41.324! 
371,301 
16.4!H 
17,337 
267,210 
23,736 
7,493 
5 6011 
10.761 
1U,4»8| 
137,4331 
163.751 
71.0401 
58.409, 
63.749 
10.-.'7h' 
3j 
14 ' 
21 .. 

It.OOll 



» 

1,122,317 

761,001 

2.1,296 

219,465 

11.61- 

220.594 

2.066. • 13 

47;<.742 

108.26 

2,414 

248,063 

113.463 

ISS.SrtO 

37.995 

1,730, ISO 

216.8)3 

1,306,4 13 

S 1.355 

685,201 

9.452,0.54 

1,494.105 

176,'235 

35.013 

6',M»3 

49tl.S42 

4.74S.4J6 

l,079,j>*9 

2,223,.il4 

269,096 

1.72H.358 

2;tl),293 

-•i.Ul3 

'. ,. 1,344 
271,599 



Y.aAH. R 
V.L.K.AMr 
Y.Pa.AOtilu 
Y. OaL A W 
V.6«84.AW°. 
rt AdouM'n 
rfolkA Wm« 



Jiiu« 3.537,! 



2-24,000110.901,943 

5,098 

343,6701 

91.593, 

•58.847 

3,326 

34.339! 

6.3351 



i 76.3 1 
319 9k 

64,710 
171.128 

26.68-1 
1.->J.253 



.M..y 

Al.rll 

latwkjulr 

M..y 

Foiiruarr . 
UtwkJuly 

rlk'n OeatTAl M.t>' 514.341 

rik'a Paolllo Utwkjoly, 374,579 

uooaasAWoat M,«y 

UUoWvar 4ii>wkJ na^ 

UUIaBir.AChaa June ..", 
loaoatAan. iiatwkjiur 




uahaABll.. 
von IiaBkOs. 



lat»<Jalr 
Mar. ...... 

Mar 8. 

Mar Il.7i: 

Mar 1.77 

Mar 3,3u 



\ABt. 

'«• 

Krta... 

. Kead'g. 

OxalAlr.Oo... 

fttaibotkOoa. 

Pttas.Mar.ACk.|jiin« 

P1t(.8kaA.AL.B. 4tl>wkJ'Da 

PlMsb. A «aa« latwkJuly 

Pitta, OLA n>L: lat wkJ iilr 

Pitta. Pa. A P., latwkJuly 

Toial arslaa.. ' lat wkJ iilr 

PULYean«.AA.|Mar I 



Marek 

Mar i *»l.t*», 

Mareb ' «»a.i 



74,603 
165.990 
30, J 5-, 
171 
42- 
.\ 

2,4+J 
11.141 
10,507 
17,70i' 
37,734: 
810,840 

. , •2.7lli 

5.ISS.567 4.247,368 24.370,478 23,085.896 



1.737. 
17.056. 
13.496 

9,7'J5 
33.601, 



i.r.ij.ru.) 

89.->,283 

6^.114 

I. '.Oil 

.1(1-. 

9.016 

310.910 

Hri.,-55' 

333713 

67.J30 

1.296,119 



1,189.443 

839,176 

19,221 

424,864 

12,101 

l>io,<.,!49 

2,313,.565 

492,339 

147.249 

6,139 

190,575 

lOS.HOl 

178,162 

31,846 

l,8.iT,73t 

204.213 

1,338,164 

83, 1 30 

696.750 

9.4,^5,6-23 

1,3j8.366 

183.797 

3'f,2.35 

30,978 

583,211 

4,417,186 

8»3.118 

2,177.778 

268.X06 

1.393.103 

24.'>.310 

783,314 

4.327.710 

10,491,933 

412,629 

10,904,563 

l,.389",49i 

363,471 

1.901, -230 

9,234 

67.1i9 

48,464 

:^,441 

M80 

-7.346 

l..-^Jl,658 

713,663 

66.720 

4,839.471 

2.203,735 

6,110,079 

13,019 

-299,281 

81,610 

303,626 

121,285 

1.499,871 



12.W78 

4 



1 1. I Kl 



gWii5J^,te:^......i 

' BMh-APaianb. Mar ' 

Bio Or. 8oalh*B 'latwkjulr 
atoOr.Vasra. UtwaJulr 

8a6.Tneeola A H-,j4ua 

8ag.VaLA8H.Mar 

8L U A. A T. B. 44b wkJ'Be' 

«< I-Kaa'atA8o.UaiM 

- l.aaaUw'ra.fUiwkJulr, 

PaalAOal'u'juoA 

iM AaCA A.P.'Msr ' 

8.fran.AN.Pso. J.iun 

6aT. Am. A Mi>n. Juue 

6aT.Pia.A Wast, Jauuarr... 
8aer.llarsT.A 8a 4th wkJ'ne 

ttlTenoo. Juuo ....„: 

60. Paeiflo Oo.- 

eaLaar.A8.A Apni... 

looU'a W«s4.. ! April... 

MofM*aLAT. April... 

■.Y:t.AM«x. April... 

rM.AN.Orl. April 

AtlAatleara.6. April 

PaaUe srateui April 

TMalofaU.. M*y 

80. Pao. offal April 

8o.Psc.ofArl/ April | 

Ba.P««.ofN M April ' 

V.> — '., — '; • .j 

.U'lie! 



12,->'53 
34.812 
15 314 

8.76 « 
5 7,089 
153.'291 
S0 9t7| 
75.933! 
39,436 

il.8i3 
31, too 

9.452 

7,753; 
30.4 *0i 

3.300 

68,400 

118,915 

1-24. 163 

81,777 

14,684 

819,I34> 

7.9-9 

7.500: 

879308 
6a.07«^ 

436,3961 
37J»0 

137.4U8: 



'. A Ark. Klv. April, 
null Uraucb. M<y. . 
k. V«l. Uml May. , 
't'lbotbOo-alMitr. . 



172.027, 
863481 

134.379, 

368,031, 

77,111 

3.483 

1.384 

10S.5SI 
87.640 

141.194 
83.609, 
2 ..383 
J3.101 
27/.17 
19..^89 
30,490 



ia<.8,ValAII W Juuo 

CM.A.4.A.fo.M l-iwkjuly 

fsLAOhloCant. l«twkJuly 

roL P. A Weet. . 4tli wkJ'no 

roL8LUAK.C IstwkJuly 

aaloa Paoine- 

Dn.Pao. KB . April 

OT.e.UAU.M April I 

et»loa.AO<l.U April ! 41,915 

Kan.C'.AOiii April 3,0.36 

T0L4t.J.AO.l. 4thwkJ'u<] 0.887 

OkBLBr a IntwkJalr 8,000 

Aoh.ODLAP. >.,_,, I Qi <vno 

AahJ.GA *$,*«"" "'•0«3 

Ofdtotaft AprU 11.664,889 



a.2.>4 
23.-23I 
11561 

0.065, 
42.877I 
87,8 10| 
3>,0«>4 

30.3 .8 
3.908 

19,130 

11,080 
7.633 

38,U0l 
1.8 JO 

43.700 
1-27,969 
101.212 

77,-23 

3i.9J2, 

882.627; 

6.607 

6.745 

•83,387 

58.818 

4 12.538 1 

20.K91, 

117 626' 

968 811 

.'.738,736 

J.6.i4,8»« ' 

86;). ■ 

17!' 

87. 

10t.'> >.: 

872.121 

71.918 

3,3JO 

939 ! 

89,584' 

89,731 

171.315 

8t.912< 

2..344 

18.323 

43.124, 

13.95 il 

17,1911 



441 "-.ll 



263,131 
789 183 
401,901 
134.7061 

1,364,895 
527,814 
118.709 
89r,5«4| 
132.9601 
189.303 

1,073.-21 

51,634 

3t.630| 

6ie,9i>6 

17 332' 

2,368.387 
603,243' 
748,-226; 
362.9491 
8 1 4.5.58; 
819.124 
157,113 



388.490 

231.219 

1.334.315 

7.312 345 

7.876 853 

15,189.093 

15,437 

171.-263 

620,836 

384 071 

132,698 

1.056.7J0 

8M.-266 

112.50 

897,«76 

13-. 646 

167.012 

975.179 

53,654 

34.855 

613,063 

12890 

3,013.203 

627,063 

363,584 

804,909 

307,955 

882.6'27 

139,297 



1.504,103 

387.431 

3.063.514 

82.583; 

349.731 



1,083.344 I J04.232 

3«9,649 439.31'<l 
72.7411 
ll.OXI 
14.103 

O.O'M 

84.852| 
1,830,0821 



8.323,16J 

281.632 

7,351 

I 

boi'.iVo! 

392 440' 

793 629i 
3,157,008: 
20,092 
931,270' 
793,432 
459,671' 
835,9921 

4.080,781 

1,381,808 

186.I08{ 

33,313 

298,3'J6, 

371,5 J9 

89,000 

6.313,7781 



1.289,193 

33J.913 

1,771000 

71,990 

321.703 

1 ■ -8.402 

:)08 

,iio6 

t.i I 1. 102 

Ii8-<,0<i2 

309 013 

673,155 

8,428.238 

343 308 

7,804 

8-79347 
837,837 
717. 1H4 
3.011,603 
20,174 
5^9.316 
714.9.<3 
400.301 
660,067 

4,229.308 

1,332,301 

284,388 

44,813 

460.211 

412,491 

130,947 

7,003,4h0 



66 



THE CHRONICLE. 



[Vol. LXL 



aoAxt 



Lau$t Mtmmgt Riporua. Jan. 1 (o Lalal Dale. 



\WmkorUi 



Uo. Iftc-Con. 

U.PM.D.AO IMat 

PtW'thAD.C 4thirkApr. 
0Ut*rADel... .Mm>....... 

Wabaab lutwkJuly 

W«oo*Northw M«y 

WMtJancy;... JUj 

W.T.Oen.* FltU M%J.. 

WMtV*.APtn« '.Marcb 

WMMrnof Alk.. April 

Waat lUiTl»>d ^'"y 

w«rt. ii.y. * p» /'''"* J""" 

WkaaL AUKrlr IxtwkJiily 
WUoonslnCeut |3ilwkJuuc 
WrUthttT.A r«p 'May 



1893. 



19S.I10 
21.311 

!>2 460 
2'Ji lt>9 

ia,34i 

lS0.34i 
69.084 
80.119 

85.808 

100.761 

60.0(0 

2T.332 

10i.3o,^ 

7.963 




S3,03b 



1894. 



1,107,267 
34S.»<tl 
) 36 r>02 

5,88.',7H^ 
67 228 
S33,l{>5 
861.601 
80,!>41 
166,408 
425.181 

l,232..5i9 
552.C35 



31.680 



* rurorek given do not Include Oregon By. A -Sav., Un. Pao. Denver & 
Salf. Denver LeadvlUe A Oannlsoo, Monuna Union and LeaTenwortu 
Topeka a Pouth >eatcm. 

uTliene tik'iirea Include results 00 leased lines. 

* Inoludea eamlnirs from ferries, etc., oot (jlven separately. . Merl- 
•an eumncT. e Includes only half of lines In wblcb Union Paoltlo has 
% haU interest. 

jitreet Raiiwsjg and Traction Companies. 

taietl Earningi ReporUd. : Jan. 1 to Latest Dale. 



ROlDf. 



Baltimore Trac. 
BIOKh'tuD Bt.Ky 
Bmlneit't Trac 
BrockfnCon>t. 
B'kl'DQ'nciSuli 
B'klyn Trscn— 
Atlantic Ave 
B'klnB&W.E. 

Buffalo Ry 

Cln.Bewp.&Cov 
Citlxei.s' Ii d'lls 
Clevrland Elec. 
Oolumb's BUS.y. 
Denv Con. Tram 
Duluth St. Ry. 
GalVfrtnCMyRj 
Lebixh Tracfn. 
Lock Ilaven Tr. 
LouiBvllle Ry... 
Low.Law.JtUav 
Lynn A Boston. 
Nasbv'le St. Ry. 
New Envrland St 
NewOrl'nsTiac 
PaoprsTr.(Pb'a) 
Scranton Trao'n 
TblrdAve.(S.V,) 
Toronto St. Ry. 
Twin City R.T.. 
Woroeater Cons. 



Week or Mo 



June 

May 

IstwkJuly 

Mav 

May 

May 

May 

1st wkj'ne 

May 

April 

May 

IstwkJuly 

May 

May 

May 

May 

May 

June 

Hay 

Jane 

May 

^v^tJlUy 6 

June 

June 

.May 

May 

May 

May 

May 



1899. 



11H,341| 

10,860 

7,678 

22,.* 4V 

58,364 

82.404 
J2,Ue 
37,7»fr 
66.282 
74,202 

129,651' 
1 J.257 
59,3( ! 
18.003 
20,43v 
10,953 
l,»2f 

110,720 
S6.5S4 

189,063 

27,887 

7,58* 

118,'»88 

208.5^8 
25,000 

238,572 
86,047 

164,006 
37,549 



1894. I 

$ 

87,826 

9.572, 

2,687 

18,700 

51,488 

83,822 
II ,87 1 
32,515 
41.397 
64,209 
111,221 
12,e.l7 
68,671 
ie,97h 
18,453 
5.385 



lfc95. 



Iaw4. 



272.202 
43,210 

139,047 
92.912 

2t 0,547 

289,799 

35,294 

682,640 

222,249 

264.393 

556,131 

311,904 

273,908 

81,161 

77,940 

43,909 



106,471 
21,501 
67,a58 
27,223 
7,521 
77,072 
89,284 
20,409 

190,629 
82,238 

168,098 
32,271 



597,8H2 
134,587 
593,801 



638,383 
918,491 
103,90<' 



364,451 

794,08 

157,28t 



183,294 
3(),3J9 
56,704 
77,310 

203.123 

3= 0,570 

30,728 

626.1a5 

174,022 

235,Hl0 

448,765 

277, li2 

2»<3,318 

74,.i55 

71.945 

25,342 

89.819 
481,776 



457,292 

521,072 

93,688 

853,638 
753,16< 
131.3^7 



IjAtMt UroM EarnlniTs by Weeks.— The latest weekly earc- 
inga in the foregoing are separately summed up as follows : 

For the first week of July our preliminary statement 
oOYen 47 roadF, and shows 38*13 per cent gain in the aggre' 
gMe. 



in week of July. 



Bait. A Oblo Boutbwedt. 

Brooklyn Elevated 

Buffalo Boob. iL Pittsb'g. 

Canadian PaolUo 

Obeaapeake A Oblo 

Obloago A East, minola 
CbloaKo Mllw. <k St. Paul 
Oln. Jackson ^ Mackinaw 
Clev. l..oralD .V Wheel'g.. 
Denver 4 Rio Oranile.... 
Cranav. A Indianapolis 
Svansv. 4c Xerre Haute. . 
V\. Wortb A Bio Urande. 
•rand Baplds A Indiana 

OlneliuiaU B. A Ft. W.. 

Travene City 

Mask. Or. Rap. \ Ind . 
erana Trunk or Canada. 
iDtern'l SlQU Nortb'n . . . 

Iowa Uentral 

Kanawha & Hicbitcan.... 
Kan. City Plttsl.. A Gulf. 

Lake Erie <k Western 

lioulsr. Evans V. di St. L. . 
LoulsTlUe ANasbYlUa... 
tooUrUlr N. A. A Cblo. 
Louisville St. L. iL Texas. 

Mexican Central 

Mexican National. 

Mo, Kansas <fe Texas 

Mo. PaclUoAlronMt.... 

Central Branob 

S. Y. Ontario A Western 

Norfolk dL Western 

MortUern Pacldo 

Oblo eoulberu. ........... 

Peoria Dec. 4c Kvansv . . . 
Ptttanorc A Western..... 

Bio Grande Soutbern.... 

Bio Ursnue Western 

St. Lotus Boutb western. 

Texas * Paolbo 

Tol. Ann Arbor dt N.Mlcb . 
Toledo * Oblo Central... 
Toledo at. L. & Kaa. C... 

Wabaab 

WbecUng A Lake Erie... 

Total (47 roaaai... 
Wet Increase (38'18 p.u. 



1895. 

• ~ 

113,701 

34,063 

53,05t 

349.00C 

153.611- 

67,500 

512,901 

11,081 

30,688 

135,im 

5,188 

18.183 

4,988 

44,980 

7.435 

876 

2.278 

348,824 

50.634 

39,79t 

7.78(« 

6,733 

59,852 

34.161 

375,735 

58,795 

7,22c 

146,127 

72.197 

165,844 

312,00b 

8.000 

64.7 a 

153,253 

274.579 

9.725 

12.970 

57.038 

6.H88 

34.50u 

68.4><0 

82.6 •» 

23,101 

27.817 

80.499 

224.198 

27,il3i 

4,315,316 



1891. 



9 

86,071 

29,321' 

61,22: 

847.001 

161.317 

8.700 

312,il7 

10,736 

27,6811 

49,400 

3,490 

11,273 

2,631 

34,164 

6,364 

963 

2,8«6 

313,650 

42,483 

23.212 

6,407 

9,u6o 

54,979 

17.337 

267,2 lO 

23.736 

7,495 

137,435 

71,6l< 

14U.11P 

215.000 

9,000 

74.695 

171,308 

Nil. 

17,700 

11,330 

42.877 

5,9 '8 

19,150 

4 .,7. 

81,912 

18.52.) 

43,124 

17 191 

45,207 

26,6 >1 

3.124.183 



Increase. 


Decrease 


9 


S 


27,633 




4,734 




.... . 


8,171 


2,001 






7,698 


58,800 




200,584 




34S 




2.9 ><» 




85.700 




1.698 




6.910 




2.357 




10,8 In 




1,071 






87 




52d 


35,174 




8,1 1 


.... .... 


6,586 




1,381 






2,327 


4.773 




- 6.824 




108,925 




39,099 






272 


8,692 




557 




16,72» 




97,000 






1,000 




9,«85 


- •-. ■- 


18,0j5 


274,579 






7,983 


1.646 




14,2 1 2 




975 




15,350 




22,700 




787 




4,576 






15.607 


13,308 




178,932 




681 




1,262.846 


71,713 


1,191,133 





4(A week of June. 



Prev'ly reported ( U r'ds) 
tton. Top. <x aaii. re 

St. Louis A SanPr 

Atlantic & I'acido.. . 
Cblo. Peoria A 8t. Louis. 
Cblc. ii West MicblKan... 
Oleve Akron ACoUiiuhup 
Cleve. Cautou & Suuth'n 
Olev. Cln. Cblo. * St. L.. 
Ool. Sandusk.v A Hook'u. 
Detroit Lann'K A Nortb'n 
Oulutb So. Shore A Atl 
Evansvllle Ac Richmond. 
PIlntA Pere Maruuett < 
Pt Worth iSt Rio Grande. 

Qearifia 

Grand Rapids A Indiana 

Cln. Rich. A Ft. Wayne 

TraverseCity 

Mus. Gr. Rapids A Ind 
(4rand Trunk of Canada 
Indiana Decatur A West. 
Kanawna A MlcblKan.... 
Kan. City Vt. S. A .Mem. 
Kan. City Mem. A Blrm.. 

Keokuk A Western 

Mexican Hallway 

Hortheru I'acltlo 

Oblo River 

Pittsb. Shen. A L. Erie.. 
Kio Grande Suuihem.... 

Itio Grande Weittern 

St. Joseph A Gd. Inland, 
at. Louis Alt. A r. Uaute. 
Sbermau shreve. & So... 
Toledo Peoria A West'n.. 

Total 176 roals) 

Net morease (Slip. o.).. 



i 1895. 


1894 


InertoMt 


9 


« 


» 


5,504.^84 


5.17P.354 


503,778 


578,9 <4 


bi\0.*il 


78,50: 


152.412 


130.HOH 


21,521 


89.6lt- 


49.676 


39.94V 


l-<.526 


I2,a6 


6,31) 


35.8 >1 


33,78p 


2.068 


23,924 


20.9(j0 


2,964 


20.04^ 


17.27 


2.-'7j- 


368.884 


30^.036 


6334> 


24,>*9x 


27,461 


........ 


2J.2H6 


25,325 




52,887 


63,157 




3.121 


2.812 


31'/ 


1 5M.459 


55,312 


2.617 


7.277 


4.424 


2,85- 


22,98: 


22.624 


34S 


15.714 


52.51^ 




9,95-.i 


11,845 


........ 


1,053 


1,07: 




2.919 


2.488 


4JI 


349.^43' 


330,367 


19,5 3 


8.769 


7,551 


1,218 


9.7 13 


8.612 


1,L01 


76,933 


94.479 




19,13- 


2 ,330 


■>>a •■ 


8.6U0 


7,277 


1.32^ 


64,613 


63,749 


8B4 


354.218 


300,405 


93.843 


17,956 


14,144 


3,812 


12.383 


3,254 


4,62.- 


11.S4. 


13.011 


• >*a 


6.'>.000 


54,500 


10,50 


9.887 


ll,lOj 


.... ... 


30.450 


28.120 


2,36" 


7,989 


6.607 


\,.W2 


19,589 


15,992 


3,637 


8.112.9J5 


7,504,687 


832,5.»: 







e08,26» 



9 
179,948 



2.562 

2,059 

10,270 



6.804 

1,893 

24 



17,496 
2,197 



1,170 
"4'216 

224,239 



For tne loiirth week of June our final staieuieut coT»ra 
70 roads, and ataows 8'U per cent gain in the aggregate. 



.>et iilarnings Jlonthly to Latest Uates.— The table frl- 
lowing shows the net earnings reported this week. A fu 1 
detailed statement, including all roads from which monthi) 
returns can be obtained, is given once a month in the! e 
columns, and the latest statement of this kind will be founa 
in the Chboniclb of June 33, 1895. The next will appeai in 
the issue of July 30, 1895. 

. Oross Earnings. . . Net Earnings. > 

1899. 1894. 1895. 1894. 

Roads. 9 $ 9 9 

At.T. AS. Pe....b... May 2,425.525 2,375.629 413,353 859,886 

Jan. 1 to May 31.. ..11,501, 408 11,4-^8,081 2,27.>,76iJ 2,029,146 

July 1 to May 31... .26,7tf2,0y4 29,460,487 6,29^,433 8,a2d,807 

at. L. A San Fr. . b. May 473,880 462,531 H5,178 138.049 

Jan. 1 to Miy 31.... 2.311,640 2,30(5.683 863,560 727,693 

July 1 to May 31.... 5,aj0,561 5,732,838 2,380.918 2,123,761 

Atlantic A Pac. .b. May 379,638 272,192 67,016 17,361 

Jan. 1 to May 31.... I,5.5,a02 1,299,154 13-.,020 def.25S 

Jalylt0May31 3,148,369 2,86J,745 43»,575 Ii7,2l9 

Aggregate total. b.vlay 3,279,043 3,110,352 665.552 515,296 

Jan. 1 to May 31 15,32-4,990 15,033,913 3,275.346 2,756,886 

July 1 to May 31 ...39,571,024 33.057.070 9,112,9.16 lo,76o,817 

ailo. AW. Micb May 132,022 120,129 20,874 22,95 

Jan. 1 to May 31.... 653.999 615,466 97,6tf6 67,052 

Jet. Lans. ANor.a-.May 96.847 83.660 22.821 16,125 

Jan. 1 to May 31.... 455,635 418.062 03,873 47,478 

edlsonEl.Il:Co., N.Y.June 135,880 1 >3,193 69,870 58,889 

Jan. 1 to June 3o 947,445 825,338 474,^96 409,640 

Ed.El.Ill.Co.,Bklyn.June 33,023 24,004 7,989 6,182 

Jan. 1 to June 30.... 2kl,219 189,794 91,952 86,121 

UUnola Central, a. ..May 1,651,833 1,427,871 577.819 374,043 
Jan. 1 to May 31.... 7,7.i0,O61 7,179,989 2,489,si4 1,771,403 
July 1 to M^y 31. ...17,548,067 19,320,128 5,3d7,il3 6,031,045 

Ind. Dec. A West. ...Miy 41,762 30,216 16,441 757 

Jan. 1 to Mav 31 184,.)54 137,879 61.649 15,537 

July 1 to May 31.... 446,593 360,598 162,279 68,765 

Laclede Gas-L. Co... June 54,701 46,626 

Jan. 1 to June 30 403,324 373,497 

MexloanNaUooal....May 369.506 378,533 tl69,878 tl 89,571 
Jan. 1 to Hay 31.... I,8i3,684 1,7/1,866 t803,063 1744,705 

Mexican Northern... May 61,970 58,409 31,891 31,820 
Jan. 1 to May 31.... 269,096 268,906 14.i,.^20 143,i'84 

Milwaukeeaa8-L.Co.June 21,445 17,683 

Jan. 1 to June 30 19.:,2<i3 lt.0,942 

Oblo River. b May 64,007 54,654 18,111 18,843 

Jan. 1 to May 31.... 27<.468 246,245 89,035 84,o38 

PaomoMall May 462,315 454,706 113,917 118,009 

Jan. 1 to .May 31.... 1,920.509 1,663,119 41.-4,108 301,221 

PbUadelpbla A ErIebMay 379,387 309,638 125,514 80,553 

Jan. 1 to tlay 31.... 1,473.801 1,354,^45 359,600 349,908 

8aK. VaUe> ASt. L ..May 7,752 7,633 1,321 3,103 

Jan. 1 to May 3 1.... 34,6 lO 84,:i55 6,V83 10.456 

South Carolina A Ga.. May 64,131 14,031 

July 1 to siskj 31 l,02L,a26 339,^51 

an.P.D.AQulf.b ....May 29->,2i9 236,613 51,106 53,799 

Jan. 1 to May 31.... 1,174,285 l,I07,2o7 221,073 218,298 

Vbltebr'slFuel Co...May def.241 1.178 

Jan. 1 to May 31 18,229 36.310 

July 1 to May 31 50,667 119,096 

• Net eamiuKs nere given are after deduotlng taxes 
b Netearnlnff* here fi-lven are hefore deduetlntr taren 
t After deduetlnK other expenditures for repairs, replacements and 
general expeUBex, uet lucouie upplloable to Interest oo bonds In Mty 
was $93,1 .2, «Kainst 4!H4,9oO laxt year, and for live months t > .May 31 
$418.«di , sgslust »37(i,o23 ; Kf ler adding earnings received from Fed- 
eral tiovemuient net from January 1 to May 31, 1^9 >, was $i t8,69(^ 
aga.tst ditn4,.><i Ibis is Ibe result in Mexican dollars ireated 
(according to 1 be compauy's melbodof keeping its aoa<>unt.si as eqol- 
valrnt to 80 oenis in United 8tates mouey- that is, all depreoiatlon 
beyond 20 per cent bas already ueen allowed for. 



JCLY 13, 1895.1 



THE CHRONICLE. 



6/ 



laterekt ( aari^en aad Sarplu.— Tht> following also re- 
{>ort charges for interest, &c. 



Okie. * Wm( MIek.. .May 
Jan. 1 lo M«r 31... 

Det. Laa*. A Nor Mar 

Jao. I to Mar 81 

Bac. Vallor A Bt- L... Mar 
Jan. 1 to Mar 31... 



~tnl€r'i, 
1895. 
• 

3i.752 

167390 

t»,9M 

14 >.T3» 

3.556 

17.T31 



..,-&-> ^Bol. or Htl Martu -v 
IMA. ISM 1894. 

S • « 

82.971 deMl.S7S def.10,776 
165384 def.69.tt9l der.9>j,^3i 

39,860 def.7,094 d«f.l'.7'.'i 

1«9,«0» det.65.8«>3 dMoe.131 

S.IU6 daf.3.S35 det. 453 

17,784 daf 11,201 def.7.3-24 



Htrect BallwAja aad Traetioa Compaaiea. 



-Onm Eannnm. . - 

18«&. im. 



StI lUtTHingt - 



BrUlaeport Traet'n.Jaae 
Jao. 1 lo JoiM 30.... 

B'kirn Queen* A Sab. Mar 
Jan. 1 to Mar 31 

Colombiu SLRr June 

Jan. 1 to June 30.... 



S8.60I 
lS137t 


12.133 
51.017 


M3«4 
200.547 


&1.4S9 
203.123 


58.546 
297347 


50356 
264.309 



1895. 

16.443 
55.562 
18.055 
40305 
31.740 
147.603 



1894. 



.^,^39 

22,238 

2».067 

1J6,CI2^ 



ANNUAL REPORTS. 



Somtkera PaciBe R*llrM4 of CallforaU. 

f Report for the year ending Dee, SI, 1894.J 
TUe annual report of thi-t com pan 7 — the moat important of 
the proprietarr companies ii tbe Southern Pacific ayatem -is 
given at much leogtb on aab>«<}'aeot picaa. The cjmpaoy 
ba« extended its line* aa California haa MoooM batter aet 
tied, until it now owna l,m milca of road, wbtoh ia tbe years 
IWSaod INS bad groaa »aroiii«i o< over tlG.OOO.OOO. The 
year 18M natnraiy abowcd a conaidoraole falliiuc oif in 
receipts, but the report etatf* that all tbe indieatioas for tbe 
year 1W5 point to a material improrement in tbe company's 
busioeas. Aliboagii, aaya the report, wheat, barley and otber 

trains w ill continue to be Um great ataple prodaew of tbe 
ute— tbe wheat crop in 19M waa only 80,S76,709 buabela 
while it has been as great as 44,S90,00ij ba«hel»— there has 
been a rapid deretopment in other Indiutriea. A table from 
the suti«tica of the California Suie B lard of Treble show« the 
eztraordiaary increaee in tbe State's fruit culture, tbe output 
of fruit in 1899 aggret(atin« nearly 807 million pjaods, con- 
trasting with ooly S2l million pounds in 1890. 

A f.-ature of all tb« reports of itie !i nitbern Pacific system 
prepartd by Mr. William Mahl, of whicb Ihla is ooe, is tbe 
carelul reciul of all tbe rxpeoditOfca oo capital acomot, 
items which by many compaoiee are so ooosbioed a* to sfT >r(i 
one no certainly that they do not enbraoe expenditures tbtt 
oaght properlr to be cttar^ed to operating exp ma e s . 

The oomparatire staiemeaia prepared for the Cbroxiclb 
are as foliowa : 



aaansoa, axi 



Mllaaot roadUccai*. 
Kmm^s— 

Oreaaeamlac* 

IstsTMl oa opaa u 
Raatal lies AUat. 
MlseeUaaeoa* taaui . . 



IWal 

Opersllsf exprBaae., 



'Bans aao CKaaoBa. 

19*4. IBM. 

1.871 1,461 

• • 

•3M.236 103«B3t« 

4l.»Tt 

43«,S6« 4»6,9t6 

177 IBB 



18»2 

1.77-J 

B 

10,331,4<lt 

4'm.7'4« 



Met aaralaa* .. 

iDtrrrat oa boada. 
Iniar«*4oa 1 
KfDUIa.... , 
laiea ........ 

aorplaa froei apwat l oa a . . 
•Ijetadcs tbe 241 allsa 



M*M'* i r.t4a,7 >0 



3.*M,B*7 

6J37B 
a.MCM4 



2,114374 



Cr 

ilvt pvoM' - - - 

— I Of laa«s 

teakeada owoad 



tol^r.ClB 



B3<^«3 

7B371 
43,.'»3 

"648.715 



ripnasei * taxaa. lead araat 97,909 

Appllr. le laiJaaia. 9% bead* . 95.49B 

BlnklocfaaBa. 100/100 

Mi«<-*Uaaeeas 56.4«7 

•09,834 
S3B3B7 



77,181 
29J3 i3 

a.tB3.41B 
13BB313 

ta Allaalle * Fadfle KR. 
accocrsT. 

1BB3. 



10.668.282 

5389,819 

4,774,413 

■.■.6«I,S2)I 

10S.x'2>« 

59,777 

270,M)7 

B.0',«;.o;)7 

1,«H'.',3T>1 



s 

1.164.741 

1,467,103 

M,730 



TMBO 

1.4677103 

136,730 



1892. 
B 
1,17\I81 
M»,«6S 
83.444 

T4 12,4*9 

76.44') 

'jo;(.'«,3 

1 i3.4t5 



HalaTs.sara 
MvMradaea 



sar9laa.-ferraa:. 



Halaase frea prsTtoos rear. 



1.688353 

9B4311 

•,086,445 



.sar33B,887 def. 1361^34 
. 1.78«.tBO 1.810,724 



•ar.998,333 
1,786,425 



Lasa adjaata. of 1880-7 taxes. 



33BB387 
21 8344 



1.799,190 2,789.154 



Bnrplaa „ 1,879,703 1,797,190 

isaan axD LiaaiUTUa. 



.1 gtftM — 

f.'o^t of rQ»*I, eir 



1891. 
...130,1 4i,3a> 



18B8. 

B 
118.862,616 
M.OOJ 



... 3,904319 

... 1.097.137 

•43,690 



79.077 
BIB 



1.74B.6t5 
9543'M > 
•38,791$ 
18S.909 
«»7379 
949 



3,78.^.198 

1893. 

B 

120.742,209 

474.'K)0 

720.810 

2,563,033 

1.142.999 

779334 

136,611 

943 



.iaB301.73B U(,684.49t 126,963,431 



1394. 1893. 18»2. 

L%abUilif— B B B 

Stock &4, 402.900 67.895,900 63.13^,300 

Bouds 'see SorrLKMBNT) 5U,B23.50a 50,794.500 46,814,5)0 

Aci-nuntii payable 16,!ls2 14.145 549 

Unclaiui'-il dlrid«od«. 104 S2.998 

Compary'i' « DklDK fund 135,437 27/,5)5 l3^,785 

TnuteeV land icraot mort 343,691 533,792 3^5,370 

Dae Soatham Paotflc Co 107,412 

MlMellaaeoiu 7,674 8,2 6 5:^,373 

Total. „119,937,690 119,607.051 112,4''3,S77 

Balanee, assets over MibtUtiss. 15,269,048 15,077,400 lt,499,5U 
T. 09, p. 374. 

The H. B. rial! in Oirapaay. 

^For the half year ending June 30, H95 J 
This indusirial corpora'ion makrs its repirt for the first 
hair of \8J5. Mr. John CUflm, the President, remarks : 

"During Januarr and February trade coodlUoDs were unfavorable 
In the eitmui, and tbe lo *e«t prices ever recorded were made on the 

Brloclpal lines uf our nierubtodl-te. Id Marob and Aarll there was a 
Diter lone lu tbe luarket, but no mstetl4l ImproTemeot In scUliix 
prloea became eatabllahed until Mar, when the butlaesa ot the a lason 
w^a already Dearly at an end. Our mere bandlse Is now worib more 
thaa tbe Oicarea at whieb It la lnveatorle<l, cillecilont are approHchloc 
a Dormal alanaanl, and tbe outlook for autuma Ik declledl)' enooor- 
acloa." Tbe oompaoy earned for common ttork Id the sprlun; season 
of 14M 1*94 per cent, aralost 1-63 per c-nt last year. 

aaaaiHus roa six motths kxoi.v) iusb 30. 

1899. 1894. 1893. 

Bat aamliuts afler payluc all taxes. 

salarlas and expenses of ererr kind 

fOrbalfraa'' 2%4.697 342,978 317,268 

latarest oa Brst and seeoBd pref 142.126 li3,136 143,136 

B»«tla6ar for eoaiuoD stack 113,571 100,793 179,187 

* Two qnartarlr dividends 114,473 114,873 17i,309 

B alaa e s ...der. 3302 dcr.li.t21 sar.8,83? 

Baiflaa isas i l a carried forward 279,916 301,601 949,248 

•orp. teasrrelavesa stoekJaae 90. 373,614 387,480 992,076 

- OtvMaads for six months : In 1899, afRracatad 3 per oent : 1894, 
3pcresat.aBd in 1893, 4>s l<«r cent. 

BALABCk SUBBT JOBB 80, 

Assets. 

IBBO. 1894. 1 998. 

Cash _ 1,109,038 1,637,790 1,744,238 

Oaahdlra.rd.aBaect.arspnaKpruaw 153.186 153,187 180,906 

Bills leealvable 1,166,>B0 1.631,892 3.118.939 

OBsaaasiaau recetrahia B.lNd 991 3,701,374 3,603.919 

B.l«l937a 9,061,733 9,437,999 

1,7*9,181 3.739,143 1,739,181 

27,197 27,197 27,197 

Bensa, tnaaa, wscoas, ele 14,623 14.621 14,681 

Tslal 14,640.117 13,999,437 15,865,760 

i.MM/Uirs. 

Captlal 9,000,00) 9,000300 8,000,000 

Opeo scrounU payable 4,^t\427 3,469Jf38 5,360,684 

reralgacxahaaaeaadlaaaaeeoait 544,1 J6 4ll7730 638,614 

BatelaB laserra «79.9I6 901,601 540,34B 

Pteafa oa spttac boalaaas 394.696 218,874 817,863 

Total 14,640,177 13,959,437 19,869,760 

-V. 00, p. 81. 

GENERAL INVESTMENT NEWS, 



Alabaaia Ureal SaatherB— t'laelaaatl New Orleaaa * 
Texas Paeifie— Seathera Railway.— At Knuxville, Tenn., 
July 3. tbe sale of collateral Gecanng theCmcinnati extension 
booda of the old East Teoneaaee Virginia & OMrgis Kailroad 
to Sanoel Spntoer, President of tbe S3Uthern Railroad Com- 
pany, waa cMfirmed. The collateral included a controlling 
inlareat in tbe slosk of the AUbama Oreat Soatbem.— V, 61, 
p. 96. 

Aaerieaa Tobacco— P. L«rtllar4 Company.— Negotiations 
are pending with a riew to the absorption of the P. Lorillard 
Company by the American Tobacco Compaor. At preaent 
the two interests are said to be far apart in the value they 
place on the Lirillard property; ooiiaeqaently no im-nediate 
agreement ia thought likely.— V. 60, p, 888. 

Aatkraelte CbsI Roada.— The 8 ties Agents of the anthracite 
coal roads on Tuesday ratified the proposition to mi :e 75 per 
cent of the Jtine output in July. Adjjuroinent was taken 
until July 80. Tbe preaideat of one of tbe leading anthracite 
coal railroads ia quoted aa saying : " I believe that coal trade 
mattera are at last really on the mend and that sufficient fioan- 
cial influance will soon be brought to bear upon K »ding ai^d 
aome smaller dlatorbera of tbe peace to force them to mend 
their waya. Mr. Morgan's evident interest in K-^adin^ affairs 
may very poasiblr bmr early fruit in connection with coal 
trade negotiation's."— V. 60, p. 1143. 

AtehlBoa 8jBtem-St. LbbU * 8aa FrAacItco.-With re- 
gard to the exceptions filed by the Mercantile Trust Com- 
pany to the report of the Master in the case of the non-paying 
leased lines of the 8t. Louis ft Saa Francisco, the St. Louis 
(7(o6e-/>emoeraf says in part : 

The Mercantile Trust Oompanr, truatee for ths Prisoo liondbolders, 
hss Bled lU exe'ptlotui to the report of Mator Rernolds, Master lor 
Ohaaeetr, who reeommanded that tbe racelrers ouxht not to disamrm 
the leases with the 61. Louis Baleio A Arkansaa Branch, tbe Kansas 
Otr * BoBthwestem Branch, tbe Kansas A South western Branch and 
the Kaaaaa Midland Line. Msster Beynolds' conclusion waa that these 
ttnaa are neeessarr to tbe Intacrlir of the srstem, and that slnoe a sale 
of the propertf under the forecloaurs proeeadtoiia Is Uksir soon to take 



plaoe. 



!r?s' 



Ixttar to keep these tinea as a 



■neh better pries Is Ukely to be reallisd I 



tlcht to the 



part o 
r toe s 



of tbe srstem, since a 
lie carrlea with it tbe 



UBcnr imbered and nnsmbirrsased br a forfeiture 



68 



THE CHRONICLE. 



I Vol. LXI. 



lOB «Bro.ui ^^ ^i^^j^ with td» le»«ed lines touetUer iind not apart 



•xpenr>e« .ud ..tliM n^e.aary eliargeH the lQt«re.t out he first inort^ 
»fe bond. «nrt .nniiKl. M.ouey to pay the ""»»'» "//he ".jeralluea 
»^l»ed lb thl. hearluK; Mil the ciceptloni alleno J'"'' '^''' ';!'"»' • 

that there will u»t l>.- l.lt e..ouith to pay the Interest on '.''"j.'^'^JV ?f « 



conoluklouo eonoeruluK the net carulDKx. of the "Jst*"'- A,he luai 
i?r lln.l« that the rec-lvern hare earue.l over and above ^operat^n 

•X 

B 

Kpllcat-le to tue payment of Intere.t of oU kind*. Slioiil.l. l>»"efore. 
tSe ii.a.ter'1. r. ,K.fi !». approved the receivers would have to borrow 
money The m.»t<T flitur«l tue net earulons at «i.l^0,81S. but ton, 
the obtictori •»/. '» ""t '•"< evidence— V. 60, p. 1103. 

AtebiMB ToiM-ka it Santa Fe.-The Joint Kxecutive Keor- 
laDizatioD Coiumittee of the AtchisoQ Topeka & Santa he 
Railroad C<>. gives notice that the time for the deposit of 
bonds and slock, without payment of a penalty, has expired. 
Depoeils will b« received only on payment of a penalty of one 
per cent on the par amount of the bonds and stock deposited, 
the committ.e reserviiiK the ritjht at anytime to dechne to 
Koeive further depoeiM. The deposits to July 8, on which 
day the rinht to tnake deposiU expired, were : General mort- 
nse 4». $125 718,000 out of |ia9,:i30,776 ; second mortgage 
"A" and ii.ome bonds. |77,5-.!8,O0O out of $79,191. Ib7; do 
" B." ^.980,000 out of $5,000,000 ; stock, $97,653,800 out of 
$108,000,000, these including deposiis in Boston, London and 
Amsterdam as well as New York.— V. 60, p. 1103. 

Belt lUilroad & llulon Stock Yards of Indianapolis.— 
At ilie meeting of stockhold»"r8 on Tuesday the usual 1^2 P^'' 
cent dividend » as passed. The other business transacted was 
not given out. The idKciaU say that they are satisfied with 
the business that has been done. 

Brookljn ('Ity.— This street railroad company has de- 
clared a dividend of 2^ per cent out of the proceeds 
of certain notes amounting to $620,000, which were made to 
the company by its lessee, the Brooklyn Heights Railroad 
Company and which have recently been paid.— Vol. 60, p. 
1108. 

Central of tteorgia.— -Savannah & Western,— The Central 
of Georgia reorKaiiizatiou plan has been declared operative. 
The Savaiinah & Western bondholders will be asked to assent 
to the agreement made with the Borg (Committee, under 
which the proposed issue of $4,000,000 4 per cent bonds on 
the Savannah & Western property has been abandoned. The 
$13,000,000 consolidated mortgage on Georgia Central is in- 
creased to $16,500,000. 

Of this latter mortgage the holders of Savannah & Western 
bonds will receive 55 per cent of their face value. They are 
also to receive 35 per cent in the first preferred income bonds, 
instead of 25 per cent as originally proposed under the plan ; 
also receiving 25 per cent in second preferred incomes, the 
tame as heretofore offered. The Chattanooga Rome & Col- 
umbus and ilacon & Northern do not come ir. See notice in 
our advertising columns to-day. — V. 61, p. 23. 

Chattanooga Southern. — A charter has been granted in 
Georgia for the Chattanooga Southern Railroad Company on 
the application of Henry A. O. Post. Russell Sage, Thomas H. 
Hubbard, Newman Erb. Henry L. Lamb, E. A. C. Altman 
and Frank H. Uavi?. The capital stock is fixed at $3,000,000. 
The Chattanooga Southern Railxvay was sold in foreclosure 
Feb. U.— V. 60, p. 561. 

Chattanooga lJuion— Chattanooga Belt— Sontbern Rail- 
way. — At Chattanooga, Tenn., July 7, United States Judge 
Hammond filed a decree confirming the foreclosure sale of 
the Chattanooga Union Railway, June 14th, for $110,000, to 
the Alabama Great Southern of the Southern Railway system. 
The new company organized to succeed to the property of the 
Chattanooga Union is the Chattanooga Belt Riilroid, a Ten- 
neaaee corporation. — V. 60, p. 1103. 

Cheaapeake & Ohio Canal.— By consent of the parties in- 
terested, including the State of Maryland, Judge Cole on 
Thursday direi^ted a foreclosure of the mortgage given by the 
Chesapeake & Ohio Canal Company May 15, 1878, for $817,- 
684 17, and the sale of the real estate held by the company 
east of Rock Creek at public auction. For the two parcels of 
land leased by the Washington Gaslight Company the com- 
pany has offt-red $100,000, and the Court directs that the bid 
be accepted if no greater sum is offered at the public sale, 
the two parcels to be sold for no less amount. 

Chleogo Gas.— With reference to the dividend, about which 
there has been much talk recently, the company's officials 
sa^ that no reason exists for the discussion since no dividend 
will de due until October. As stated in the Chbonicle of 
April 13, the dividend i)erlod was changed last spring from 

auarterly to semi-annually. This was d<me to avoid paying 
ividends in January and July, when the company's heaviest 
Interest payments an- made. At present there is an injunc- 
tion which forl'ids the payment of the dividend, but by 
October this difficulty, it is hoped, will be removed.— V. 
«*, p. 1151. 

Chicago A Northern Paclflc.-Judge Jenkins has granted 
at Chicago an order directing Receiver A. L. Hopkins to enter 
into poastsai'in and ooeration of this road, and he has accord- 
ingly (on July Isi] taken [Kjssession of the property heretofore 
operated by the Wisconsin Central Company. The receiver 
from now on will collect rentals from all tenants, make all 
disbursements and manage all the affairs of the company. 
The bondholders' committee of which J. Edward Simmons is 
Chairman and Wm. Allen Butler, Jr., Secretary, 54 Wall St., 



call attention to the above facts and say tha', thui freed from 
the control of any other corpjration the property will, for the 
first time, be able to show its acluil earning capacity, and can 
be developed without regard to conflictiog interests, This 
will, it IS hoped, enaole the bonddolders' committee to put 
forth in the near future a detailed plan for the reorganization 
of the property.— V. 60, p. 1103. 

t'hieago Peoria & St. L»al8— St. Lonia Alton Ik, Terr© 
Haute.— At Springfield, 111, July 10, Judge Allen entered a 
decree in the Unitt'd States Court ordering a sale of the Chi- 
cago Peoria & St. Louis Railroad within four weeks from date 
of publicatnn. The sale is to be made under foreclosures by 
the Mercantile, Central and Metropolitan trust companies of 
New York, and is preparatory to the carrying out of the plan 
by which it is expected the road will become part of the St. 
Louis Alton & Terre Haute system.- V. 60, p. 1147. 

Choctaw Oklahoma dt Gulf.— A Philadelphia paper says : 
Track-laytnt; has been comuleted on about 80 miles out of the 120 
miles to lie built to complete the rcul, which will be tiuished In 
every part by ibe middle of August. The prospect for businesH Is re- 
ported by the otilcers to be exoeptloually KooJ. rralBo arraustements 
have been entered into with the Ohiano Rock Island <fc Pacific Road 
that aeeure to the company a ^ood share of the coal business of Kansas 
and at points ou the Rock TsUud Road.— V. ISO, p. 1057. 

Cincinnati Hamiltoo & Dayton.— The proposed consolida- 
tion of the Cincinnad Hamilton & Diytou. the Cincinnati 
Dayton & Irontjn and the Cincinnati Diyton & Ctiioago 
railroad, has been ratified by the stockholders of each of the 
companies. — V. 60, p. 1 104. 

riereland Canton & Southern.— Mr. H. A. Blood, for- 
merly President of this company, died last week at b'itch- 
burg, Mass. He was president of the ro;td from 1883 until 
the appointment of a receiver. — V. 60, p. 1144, 

Columbus Sandusky & Hockin?.— At Columbus, O., July 
5, the MetropoliUn Trust Comi any of New York filed a peti- 
tion to foreclose the mortgages of this company of which it is 
trustee. Uader this petition, and because of the objections 
from interested parties to J. H. Stewart, who was appointed 
receiver last week, the Court accepted his resignation and 
appointed Nicholas Monsarrat, of Cleveland, who was former- 
ly President of the Cleveland Akron & Columbus Riilway 
Company, in his stead. It was claimed by one of the attor- 
neys addressing the Court that $350,000 bonds had been 
illegally issued. Judge Thomas Beer was appointed referee 
to hear evidence and determine priorities of liens. 3. W. 
Bennett was appointed commissioner to sell the road under 
the decree of foreclosure. 

The receiver has applied to the Court for permission to issue 
$250,000 one-year receiver's certificates to pay labor claims 
and taxes.— V. 61, p. 26. 

Concord & Montreal— Boston & Maine.— The Boston & 
Maine took possession of the Concord & Montreal on Satur- 
day night.— V. 61, p. 37. 

Denver & Rio Grande— Rio Grande k Santa Fe.— This latter 
company has been organized to operate the Santa Fe Southern 
Road in New Mexico, recently purchased at foreclosure in the 
interest of the Denver & Rio Grande, whose officers are named 
as directors of the new company. The present line is about 
34 miles long, giving the Denver & Rio Grande a connection 
with the town of Santa Fe from Espanola to the North. Im- 
portant extensions of the road are said to be contemplated. — 
V. 60, p. 928. 

DigtiUlQg & Cattle Feeding'.— At Indianapolis on Wednes- 
day, Judge Baker confirmed the decree of sales as far as In- 
diana is concerned. At Cincinnati Judge Taft has given 
until next Monday for due notice to creditors when, it is un- 
derstood, he also will order the sale. The United States 
Court of Appeals at Chicago adjourned on Wednesday with- 
out having been asked to take any steps toward securing an 
appeal for the Greenhut-Morris interests. The next session 
of the Court will be held in October. The property, it is ex- 
pected, will be formally turned over to the reorganization 
committee August 9. 

Counsel for Messrs. Greenhut and Morris, in Chicago on 
Tuesday, served notices on the directors and the receiver of 
the company that, under the recent decision of the Supreme 
Court of Illinois declaring the present Trust illegal, they 
would, as trustees of the Great Western and Woolner distil- 
leries of Peoria, respectively ask for cancellation of the 
leases of these properties now held by the Trust. — V. 61, p. 27. 

Galveston La Porte & Houston.- The Texas Railroad 
Commission has authorized this company to make an issue of 
$700,000 bonds, of which $150,000 must be held until a like 
amount of bonds of the Houston La Porte & Northern (con- 
solidated with the Galveston La forte & Houston) shall be re- 
tired.— V. 60, p. 928. 

Grand Rapids St, Indiana.— The Pennsylvania Railroad 
Company gives special notice to holders of Grand R.'tpids & 
Indiana 7 per cent land grant bonds, maturing October Ist, 
1899, that as guarantor of the above bonds it is prepared to 
purchase the same until October 1st, 1895, inclusive. Holders 
desiring to sell will communicate with Robt. W. Smith, Treas- 
urer.— V. 60, p. 1104. 

Hnmeston & Shenandoah.— Mr. E. C. Murphy has been ap- 
pointed receiver of this road, which has been owned and 
operated jointly by Burlington and Wabash. The receiver- 
ship is preliminary to a readjustment of the ownership. The 
road is 110 miles in length, is bonded for $2,684,000, and has 
failed to earn its interest. 



JCLT 13, 1896.1 



THE CHRONICLR 



69 



npany to tht- 

' cot COII- 

inl till tUai 

'' ' Ttl HIT 

- luav 

, ...f Pity 

;li{kt«of II- 

lud eao Dot 

'iiiiu (or m t>er 

ma. 



liBffStoa * Pcmlmke.— The lUilwar Cotnmittee at Ot- 
tawa has autborispd this oocnpaoy to reUucv its oommon 
stock from $5,000,000 to $3,000,000 and to iaaue- ptetetvuL-e 
bonds.— V. 5», p. 1141. 

LarlHe Sss.— The St. Louis CHobe-Dtmoentt says : 

Attorn- V H>nrT nil<'b<>ork baa slllMMt •orapletrd pre|»aratioii» for 
the bill .' --•■'- ■' '•>• l-aatede Ou ?•■•>■■ 

Bupnii. ••'! 8ute«. Tbr 

TCM l< ' tiM appeal ean 

ttnte. in- |.ro"i«' I u> I'. iM.noirer, tamtlt '«••" ■ 
moDths later, wblic it Is poaatbia that > 
elapae tvfi'rf* thi* <iD' aiiOB* IdtoItmI ur 

Ifanb'i ' "le <■»»« trwr' ■ •■ ' 

Tkeli*' 'OJ, to II'' ' 

fniBciiJ- to. It eai^ 

SZteDti Itn DUAlurnt* where the .-jLt. u«iu:j r- 4'iii>-- .>ip . 

mil, whlall tkeettr <to«* boI ree St to xraot —v. tu, p. 

Lekieh * New Eiiirlanti.— At Pliiladelphia, July 8, thf 
Stockh to i» ue the $1,500,000 

stock <•: (or in thf nortcanizo'ion 

nlsa of Uw uU i'<;ua^> Ivaaia Tougbkeepaic & Boatoo.— V. tdi. 
|>.8SS. 

LUiinf<ioa tho »w York Htoek Exehasce— Th-rv Imv- 
iK-en iistHd on th" New York .Stock Exchange $l*i.iH>(i tir- 
ntortcacr 't per cent bonds of the Brooklyn Citv Khi'- 
$$JM.OOO H<>resotil* Tmat Cooipany eoKrare.l c-r 
dsfMwit for Kansaa PaciBo Hallway coosoIk. — v. Si. i .... 

L»K l<land Traclioa.-Or tlie SOO.iniO thares of stock. 
8 Wo -dr.r,^ hiiTe ihua far been deposited under the reorgani- 
-V. no, p, 114.V 

!.-:.:_ :cr t Qaairyrille. — A prrss dispntch fri>m Mn- 
caster. Ha., says tbat the proceeds of foreclosure a ile will I..- 
distrihti'i'ii juat a* soon as the check* can be made out. thr 
!>■" - realising about 89 per cent of the faoa ralue of 

Loulctlllr A NashTllle.— This railroa<l company furn' 
the fi<llii*ir:K rtat* lat-ot of operations for the y««r ende*! 
M>, 1H06, compared with the prarioas year, Jane, IMS, tx- in^ 
estimated : 



'Operatlaii •«P*bi 
Par et ef azpi to c 

Vatsai 



I0M-9S. 

fJMhMlM.; 

• 

...I9,t3«.M0 
.. tM»»i«aS) 



f a n aasa. Dttrtmt. 



laa from tiaSa. TMAAU 

Dml utt /Ut4 ti tm r am 

latsMat sad laat 5,0IS,aill 

Taaaa »79,000 

Total fliad akarcaa tJS99.t*l 

Sarvias aarBla«s 1,4SS.777 

Othaitaa, fraoi lavastawatt MajTS 



190S-M. 

ri(«Maf.; 

1A,074.*97 aaw ,»ai> 

(ei»*i«a%) 

7,l'0,Aa3 M,3»i 

(t;«.a»%> 

»,0aS.t77 Bl.ttM 

eoo,M» u,3»e 



6.M«.aM 7T,2as 

l,444,»l« 9.139 

rT%a>m 0o,m* 



1.7M.0SO i,Ti7,aM njna 



Laaa ea Oeorgia nL. 



Blatlaa raad i-arseata 

Vataaded diMoaat 

Baisasa, a4vaM>*> lo Soath 
* Kofill Ala. BR. Oa 



17».0MI 
6.M7 

W7,M0 



S4.7fl4 
IW,M» 



7»JI« 

iVaiboo 
«,a«7 

•t74M 



»3.im 



Total dedoetloas 



1,06S.U« 104,713 •OO.MS 

739.iM 1.S93.4S1 Sl>l,»»7 



I 



* Ofleial t>T 1 1 BKtalha; Jaa* ISOa aailaated 

«Tbt>aialilBcrna4Baya«8Ula laM-M aacrt-'-'-* *<«7,M3, tmis 
whl«b la dedneled *4IS.'i6S for th« Bariwt ralu. ictivaeiTcd 

for a part tbareof. laatlac a balaaea as hrrs ol ^ 
— V. «o. p. iita. 

■etropolllan Tractlai,— Tb« nndarKround trolley line 
on Leunx Avroue was planed in opnation on Tuesday. —V. 
89, p. 1H«. 

aetropalitaa Went 8l<e BlaT«t«4 (Chle«««)<-At Chioaffo 
on saiiirtlar, tr»- A.h inat.. the sloekhoMera of this company 

Tr>f< <I f'l .'iltMi'iDJ ■ fh»* nnkiMk*tf>t1 i««ii^ i\f It rw>r oaq^ nOO*Ctlt1]U* 

Ij'' 000. Asarr- 

••" the treasury of 

the > .iiiiMrtv wliici) were t<> (w iaMivd on the Dnttglaa P.trk 
branh mill be canceled, preferred stock beiox ii>aai^ in their 
■tead. 8<iine of the bonds airaady iaaaed may also, very 
likely, be eschaniccd for pr ef erra d stock, althouKh auoh an 
exchange can hardly be expected to be general,— V. 00, p. 830. 
Mlaaeapolls M HL L«ais.— John B. S^arles. Jr., Treaaur* r 
of tlif ATK-rintn'Siiitsr R'AoImc Co<apanr, has been elecltd a 
memli^r '.f the » >.ir<i of DiracMta of thia company in th>' 
place i>r K I war I S. Uham, of Obkraco, who was elected a 'li- 
rectf)r uniy terriporarily. President Bull aaya: " The new 
oompany i< <1 .in : rery well. Crop reports from all over the 
•ysteio are moel encouraging." — v. 8). p. |o.')9, 

■ahlle M BlnalMhaa Railroad —Tiii* liiiUnxtd company 
on JiiIt S took nrer the property of the Mobile A Birmineha'n 
RnUirny c»mpiny wbMl was sold in forecloaure April V7 
Mr. T. u. Bnsb has baes sleeted President and J. W. S,>ratl^r 
Aoditor. lo aboat lilirtj day* there will be a meetini; for 
the purpoaa of bondioK tba road to the extent of $'.>,3uo.- 
000, and the prr>ceeda »f theaa bonds will be used far better- 
mmu -V.,|. so. p. 796. 

Wow Orleaaa * ftaatkera.— The application of Joseph 
Plfkie for the up iriinim-nt of a ret^iver for the New Orleans 
*R 'ii'hem Rkilrwd Compaor, which wa^ filed in the U. S 
Circuit Court nn Jan« Hw, resalted in the app>intnient of 
0«o, 8, Taylor as rec«i*«r for the company. The interest 



upon the company's bonds due April lat was paid. The appli- 
cation for a receiver wa^ made upon the general insolvency of 
the company,— V. 60. p. 1059. 

New York & New England,- This road was sold under 
foreclosure of the second mortg;age at Hartford on Tuesday 
and bought in by J, W. Simpson, representing the reorganiz- 
ation committee, for $3,000,000, Mr, Simpson was the only 
bidder, 

Mr, Henry W. Cannon, President Chase National Bank and 
member of the reorxanization committee, said : 

"Ttw> B.-il.' of proiKTly of the old pompuny o-iinplete^ the work of the 

" itton will be i>riraiiU>"il tnimeiti atAly to taks 

lie committee havlne olilainid diirlni; the 

ti'tri-hniiMi III M.i-i-^:iohu*etts. Conuectioiit, 

iiU V wl.l irry out reor- 

t-ai ii'rt by 't and oioso up 

Iho . '-v. 61.p. CT. 

Nivfara trails Power.— Tnig company's great dynamo was 
tested Isst week. The Baltimore American says : 

"Dr. Ixiuis Duncan, the chief consulting electrical engineer 
• if the Haltitnore Belt Line, witnessed the tests of the great 
.rne-p<iwer dyriamo which i-* drawing its power from 
::«ra FalN. The test of this maintnoih dynamo — the 
,. ii .. «>''>rld— was an unqualified sucoesn. The ma- 
I its full capacity, aud every part worked 
iiipany IS now const ructiu)r a second dynamo 
<if the Nouie caiwcity, and when it is completed, three mire, 
similnr in s a- to the other two. will be built along the canal 
which has been dug from the Niagara River and up tn which 
the works of the companr are situated. Space has 
been m^de by this canal for dynamoo to generate 100,000 
horse-power, and mar-hine« will be built for that purpose as 
-ii.in aa flu- .Iirnand wirrants i'. At present the single 
ing electric power for the Pittsburg Reduo- 
works of which are about one-half a mile 
T companv.and for the Carborundum Ojmpiny, 
'■ distant. It is e4tlmate<i that 20,000 horse-power 
[rom the nve dynamos can be sent into ButTiiio. This remains 
to be demonstrated, although the engineers of the po ver com- 
pany feel confident that • test will demonstrate its practio- 
ahilily."-V. IW. p. 108.V 

'»>■•">- «*«"»'-t I % ctafc Nortkera.— At Salt Lik»City, 

'■■rritt aopointed Olirer Ames, 2d, and 
: lasacbnselts trustees under the firtt 
mortyoyt u( the Ulah Central in place of the original trustees, 
now dMd. 

Holders of Oregon Shori Line firtt mortgage 8 oer cent 
boodsare notified br the oommittee of which R. C. Martin is 
ChainnaD that the lUlay in the payment of intereat by the 
Uoion Paeiflo reoeirors and the atti'iule of the committee rep- 
rearnlinc the onnaolidated bonds have placed the future dis- 
poaitioa of the property and the protaotioo of tiio bindboid- 
ersiothe haiidi of that cimmltlee. O •posits ffnder thtir 
acreement may be made without penalty until Aug 1, ISOn, 
See adeerlisement in to-dav'a ChuokicLC. 

Holders of ihtUlah Southern general mortgage Bn<\ ftrfcnsioa 
MOrlgtVr hond- at a meeting in New- Yurk on i hurriday ap- 
pointed Peter B. WycofT, Samuel Carr. Alexander H. S'evens 
and Isaac Ii. KnmileT a committee to examine the properly and 
itsrelatiins t'l the Union Pjciflc, and rep >rt at a meeting to 
be called br th-'m at an early date.— V. 61, p. 97. 

NegotlaUnns between the two Oregon Short Line com- 
mittees have b"en giing on, but thiia far without success. 
TbeCoisi^li 1st- d C'lmmittee have ofTt-red to give the flrsta 
priority of lien nn the 140 miles of road on which the consols 
•re BOW a flrat lien if they will agree to a reduction in inter- 
eat to S per cent, ri'-- -f-'-'ne involves a reorganizition which 
would lake in the illway & N.iviirniion, The tirsts 

•re disposed to »tai. r Itetter terms —V, 01, p. 27, 

Padacah Teaaesaoo M AUhata- Teaaeasee Vldlaad,— 
United .Stale* Cin-uit Judge Lurton recently appointed J, H. 
Walson and J. B. Cl'^ugh siiecial oommisainner* to conduct 
the aale of the Teiin>ii»>-e Midland, the upset price being fixed 
at $1,000,001). Sixty daya are given in which to discharge the 
road's obligations, after which the special commissioners will 
aetada^for tlie sale. Foreclosure proceedings are also in 
p r o(t r <as axainst the P4ducah Tennessee Si Alabama, the two 
roads having been closely allied.— V. 60, p. 713. 

PMMvlvanis Railroad. — This company has arranged with 
Speyar & Co. to aell in Ixtodon £1.000,000 sterling 8>^|>er cent 
OO-ysar bonds of the consoliilated mortgsge. The pro- 
i Wd s, it ia learned, will be appli'd in pirt as follows: 
I ross the Delaware River, to cost nearly 
and fourth track construction on the 
.ii.iii ,,i„-. ain^.ition of grade crosnings on the New 
York diviition and elsewhere: in all. eatt of Pitlabiirg, about 
$3,000,000 West of Pittsburg tlie construction ot the bridge 
at Cincinnati: reduction of grades on the Cleveland & Ma- 
rietta Riilrf>Tl: the corapiny's share of the new station at 
Day ' 000: gradx crossings in Col'imbu8,$>50,000; 

will. "Is on the P<tn llindle diviiions to accom- 

modal*- u i»<^ir.ii'k road, and the biiiltling of 1,500 cars for 
lake iron and ore and crmi trafdo,- V, 61, p. 39. 

Pcansylranla Nteel.— Application has been made for a 
charter for " The Penni-ylvania Sieel Company," and as toon 
as it is gi;aoted the (Juuri will be asked to diiuliarge the re- 
<:eivera, the reorganization having been completed. Effing- 
ham B. Morris baa be«n elected President of the new com- 
pany; Eben F. Barker. Secretary, and Edward Smith, Treas- 
urer, The directors will be EfHngham B Morris, N Parker 
Sbortlidge, John B. Oast, George Philler, Howland Davis, 



70 



THE CHRONKJLE. 



[Vou liXI. 



Alfred Barosbaw and Luiher S. Bent. It is said th« com- 
pany baa all the orders it can fill and there is a possibility of 
itiianiDgupsome of ita (urnaces that have been idle for 
•ome Une.— V. SO, p. 1106. 

Pklladelphia * ReadlBj.— The arRument upon the Bener- 
al mortgaRe foreclosure took place in the United States 
Circuit Court on Tuesday, the forecloture being opposed by 
various interesUi, and at the conclusion the Court took the 
matter under advisement for future decision. A meeting 
was held in New York on Monday afternoon between the 
Olcott Reading R< organization Committee and Mr. J. Pier- 
poDt Morgan, and rariou-s repi r(» were circulated about the 
latter Koon UDderUking a reorganizaiion. It is understood 
that verv little was done at the meeting, and beyond a state- 
ment of "the progreaa recently made in arranging certain fixed 
obargfs of the Reading with n bich the public is familiar, 
the proceedings of the meeting were cbiefly perfunctory. 
—V. 61, p. 28. 

Pittabarff Cleveland & Toledo.— The atockholders of this 
company have authorized the proposed consolidated mort- 
gage for $4,000,000.— V. 60, p. 1010. 

Poslal Telegraph ft fable.— A. B. Chandler, President, 
liaa feet out the following : 

"Th» recent publication of HpcclHo statements t<> the elTect that the 
property of Ihn Pontiil Telegraph i t;aiile Company has bee^ nold to 
tbe Standard Telephone Company makes it nccesiary to aay that no 
(uoh ule baa been made or contemplated, and nn luotlre for (be mak- 
tric of fuch a Mory la known citbfr to the stockholders or the manage- 
ment of the Postal Cooipany."— V. Of, p. S63. 

Reorganizition Plans, etc.— The following is an index to 
all defaul s, foreclo-ure sales, r -organization plaas. the naoies 
of all reorgai.iz ition committees, and all statements re^pecciiiit. 
the pavment of overdue c lUD^ns, ttiat have been published in 
the Chronicle since the April edition of the iNvesrOBs' Sop- 
PLKMtNT was issued, all earlier facts of this nature bein* set 
forth in that puMica'.ion. It does not, h iwever, include 
matter in to day's Chro.niclb. 

The following abbreviations are used: Plan for reorgioizi- 
tion or readjustment plan; coup, for coupon piyments; def. 
for default; Com for committee. 



Voiume 60. Paae. 
AtebUoD System- 
Colorado Midland coup. 747 

do do Com. 872 

St. L« A San Fran.. .. csi/nlOO? 
Atlanta A Florlda.j«>/«..1007, 1148 
Auguiita & Knoxville... Com. 967 

Briirantlne Boaeli tale. IIH 

Btlttol Eliza ii'n <& N C. . gile K'57 
Cape Fear A Yndk. Val.. Cow. 1U08 

CtaattanooK'i Union sa/e.1103 

Chesapeake O. A 8. W .coiip.lOOS 
CblcaRO PeortaA St. L..p/an.ll47 
Chloa«oA West Mlob... coup. 748 

Oleve. Canton & So fOMW.1144 

DtstlllliiB* C. F (fr/.lOO;) 

Geoifcla Soath. A Fla-.-.p/aii. 924 
Oraid B. 4 Ind... Com. 11 58, 1106 
Kan. CItv Water Works. eoii/j. 929 
Llltle Kock A MoKipbU. xife. »67 

Lot K laid. Traction /Van. 1145 

Loulev. Evanav. A St. U.C«»i. «7a 
Do do cnuj). 967 

HarlcttaA No. Ga toli.)009 

Mlddle»bor«iiKh Belt ...saU.WiS 

Volunie 61. Pagf, 

Ala.G.N. Fmilbi-ru. slockiate. 26 

Cape GIrnideHii St. Ry t'le, 26 

Ch»rletIon(W.Va.)St,lly.»n/«. 56 

Cblc.*(<o UdeK. T tirf. SO 

Col. A Uo< k V & I. Co... ilrf. 26 
Col. t<aDduskyJc Bock., plan, 26 



Vdlume 60. Page. 

Milwaukee St. By <ier. 9if> 

Po pfaii.1009 

N. Y. Lake E. A West def. 968 

N. Y A Mew Eneland . .coup.l0")9 

Norfolk A Western .Oom. 874 

North-rn Adirondack., sate. 968 
Northern Paciao /Wan. 930 

L>o cowp.1106 

Ohio Southern. ...Co.-n. 874.1146 

Do rff/.lOlO 

Oreeon By. A Nav.. sa/e. 968,1147 
Oregon 8h. L. A U. Nor.coup. 963 

Do do »a/<.lH7 

Peoria Dec. A EvansT. Com. 930 

Do do ..coKp.1106 

puts. Akron A W »o/e.l059 

Sav. Americas A Honl.. plan 874 

Do do. .roup. 1148 

Tex. Louisiana A E-tst ..$ale.lOlO 

Toledo A. A. A N. M sale. 969 

Union Paclllc coup. 969 

Uu St. KK. (Dover, N.H )«a(e. 969 
U. 8. Cordaice p/aH.10l2 

Do . -Com. 106 1. 1106 

Volume 61. Page 

Dlstllllnir it Cattle Feed ..«o(f. :i7 

.N. Y. A New England., foup. 

Ohio Southern Com, 

Phlla. .V Keadini; ilef. 

Southern Cent. Com.and plan. 
Toledo A. A. A No. U fate. 



2 

27 

28 



28 



San Uirgo Pacific It Eastern.— Circulars have been sent 
out describing I he prrject for building this road from San 
Diego. Cal., to Salt L<ike City; also an eastward line from 
San Diego, and atfordin« the Pacific Coast connection with 
coal fields in Utah. The stock is $1,000,000, in shares of $10 
each. 

Syricnse Congolldated Street.- .A. decree of foreclosure 
having been uranteii, de p^iis nf tonds under the plan wi'l be 
received by the Central Trust Compaoy only to and including 
July 20. 

ToUdo Ann Arbor it North .Hichlgan.— The Reorganiza- 
tion Comroit'ee have no advices as to the motion reported to 
have b*en filed at Toledo to set aside the recent sale, and do 
not believe confirmation of sale will be delayed, as all the 
judges before whom the matter can be brou(?-ht have already 
decided all qufstions involved. As toon as the sale is con- 
firint d the old stock will be given an opportunity to exchange 
their holdings, two shares of old for one of new, on payment 
of $10 ptr (hare f< r the latter. There were $181, OOO of the sev- 
wsl clsaoes of bonds which did not come into the reorganize 
tioD. The holders of these bonds will receive t heir share from 
the proceeds of the sale of the lespecti ve divisions.— V. 61, p. 28. 

Union PailBc— Receiver H. H. H. Clark expresses himself 
aa follows regarding the Union Pacific situation : "It would 
be a great niistakf to further dismember the system, and the 
beft interests of the Oregon Short Line & Utah Northern are 
bound up with the Union Pacific system as a whole. With 
improved conditions generally and a settlement of some of 
the Union Pacific debt problems the pri periy is in a fair way 
to fee belter times, and it will assuredly share liberally in the 
rtvenue to be derived from the movement of the crops this 
fall. The Union Pacific Denver & Gulf line should ultimate- 
ly be taken back into the system, and if good counsels prevail 
it will.'"— V. 60, p. 1106. 



Union Pacific— Kansas Pacific— The Kansas Pacific Con- 
solidated Mortgage Protective Committee, of which Frederick 
D. Tappen is chairman, baa listed on the New York Stock 
Exchange, $6,043,000 Mercantile Trust Company Engraved 
Certificates of Deposit for the consols. The total issue of 
consols is 111,725,000.— V. 60, p. 1106. 

United States Cordaje.— At a meeting of the Bondholders' 
Protective Committee of theUniUd States Cordage Company 
on Tuesday, Dumont Clarke, president of the American Ex- 
change National Bank, withdrew from the committee, having 
disagreed with the other members in regard to the advisabil- 
ity of further opposing the reorganization of the company on 
the lines proposed by the Reorganization Committee. The 
remaining members of the committee, after a further investi- 
gation of the company's aff.airp, issued a statement strongly- 
advising the bondholders against giving their assent to the 
reorganization plan promulgated in the interest of the old 
management. 

The reorganization plan received a decided impetus in the 
announcement that Messrs. J. P. Morgan & Co. had formally- 
approved of the plan of reorganization and had deposited the 
securities held by them, of an approximate value of $1,000,- 
000, with the Manhattan Trust Company, under the plan pre- 
pared by Mr. John I. Waterbury and his associates. The 
Chemical Bank and Bank of Commerce also made deposits of 
bonds. 

The time for depositing securi'ies under the plan, which ex- 
pired to-day, was extended to July 96. — V. 60, p. 1151. 

Universal Gas (Chicago).— A call has been made for 30 per 
cent of the stock subscription of this company, which has a 
subscribed capital of $1,500,000. Other calls will be made 
from time to time as the money is needed. After the $1,300,- 
000 is fully paid up the directors have power to further in- 
crease the stock at will to $5,000,000.— V. 60, p, 1105. 

Utah Hot Springs & Ogden.— W. A. Paxten, of Omaha, 
was the only bidder in Ogden for this railway, which was 
sold last Wednesday in Ogden at SheiiflE's sale. 

Valley (Ohio)-BaUlniore & Ohio.— The two bondholders' 
committees have come to an agreement and the B:iltimore & 
Ohio plan is to be carried out. The 4 per cent lOO-year guar- 
anteed bonds are to be increased from $5,500,000 to $ft.00O,OO0. 
A trackage agreement has been made with the Wheeling. 
& Lake Erie.— V. 60, p. 789. 

Washington & Colombia River.- This railway compiny 
has listed on the Philadelphia Stock Exchange $2,500,000 first 
mortgage 4 per cent gold bond?, due July 1, 1935 (first 
coup in dated January 1, 1^96), both principil and interest 
payable in gold coin at the Farmers' Loan & Trust C )mpany, 
of New York City, which company is trustee under the mort- 
gage. The statement of the railway company to the Stock- 
Exchange is as follows : 

The Washiugton & Columbia River Railway Company was 
incorporated in July, 1893, under the laws of the State of 
Washington, to build and operate lines of railroad, telegraph, 
steamboats— also warehouses, etc.. in Washington and Oregon. 
The route of the railroad is as follows : 

ifilfg. 

DaytoD, Washington, to Pendleton, Oregon 128*101000 

Eureka JiiDctlon to Pleasant View, Wash ngton 19'»2,|jqo 

Klllian Junction to Athena, Oregon 14oS'Oiooo 

Total length of side tracks 1767,0^ 162732, 000 

Oange, 4 feet Sij inohes, all laid with 56-poaDd steel rail. 

Kqulpaient : 7 lucomntlves, 2 passenger cars. I baggage and express 
oar, 15 box cars, 4C flat car-". 7 eatiooses, 2 tank cars. 

The amount out.itandlUii nf the abave-descrihert tlrst mortgage bonds 
is *2,500,UOO. of which amount $50 000 were Issued to be used by the 
company in acttlli'g for rolling stock and other matters, and the re- 
mainder. $2,4511,000, divided pro r«(n among the bolder.'; of *1. 175.000 
of orstt mnrf gase 5 per cent bonds, issued by the company October 24, 
1892, upon vvhlcU tirst icortgage the earnings of the company were not 
aulBcient 10 pay the iiitere-it. The difference betwean the $2,450,000 
and $i.l75,0i'0 being settled by gWlog income mortgage bonds inon- 
onmulath e) for tli« amount of such difi'drence. 

B.y resolution of Ihe boird of trustees of the company a'<rf»/«9»ai 
bonds, at a rate not ejccoeiliog $20,0J0 per mile, may be issued under 
and secured by the said first murigaze. bciriug Interest at the rate of 
4 percent per annum, as the s-amn shall he required for the purpose 
of Hiding lu the coustruciion and etiulpmnnt or purchase of adilitional 
road, inrludiug aM extensions, brauchen, eicl 

The payment of tbe principal and interest is secured by .^ mortgase 
da ed .^far. h 1. 1895. to tbe (•'armers'I/oanife Trust Company, trustees, 
conveying to cbo said trustees the company's riilway, equip. nent and 
rr.tiiCbises, as described in said murteagn. The funded tebt of the 
company < onsists 01 1J>2.500.00U ttrst mort. 4 p. 0. gold bonds, due July 
I, 11)35; !62,.5oO,000 Income mortgage 4 per cent bonds (nou-oiimula- 
tlvei, due July I, 1935 ; authorized capital stock .■8:<,000,0J0, iiar valu& 
of suares$lUO, full paid, all issued; no floating debt. 

West End « River Side Electric (Montgomery, Ala,)— 

This road has been sold to Alexander Troy and associates, 
who propose to reorganize it, 

— The Moneiary Trust is a new financial institution, inoor* 
porated under the laws of this State, and embodies principles 
not heretofore incorporated. Under its legal constitution it 
cannot acquire ownership of securities or transact business. 
fi>r its own account. It will act a» trustee for banks and pri- 
vate individuals in financial transactions. 

— .\ line of desirable investments is offered by Messrs. 
Redmond, Kerr & Co., in our advertising columns, to which 
attention is direct=!d. Oa application at their offices in New 
York or Philadelphia circulars can be obtained giving details 
and prices. 

— The Edward C. Jones Co.. 80 Broadway, offer in another 
column Trenton fours, Tennessee settlement threes and Long; 
I'land 41^ per cert improvement bonds. 



Jolt 18, 18»5.] 



THE CHRONICLE 



71 



Jlc^orts mid Socumcuts. 



SOUTHERN PACIFIC RAILROAD COMPANY 
OF CALIFORNIA. 



AKNUAL REPORT FOR THE YEHR ENDIKQ DECEM- 
BER SI, ISM. 



Nxw York, May 8, 1805. 
Xr. C. p. Hdstwotox, 

Pretidemt Southtru Ptieifie Co. 
Su : Am rrqneited, I anboiit, herewith report showing the 
M T Uu e Hy owned and the floancial coodicion of the Southern 
PaaSc Railroad (Jompaoy of Califoraia, a cooatitqent Corn- 
pan j of the Southern Pacific Cu., tor the year ending Decem- 
ber 81, 1894. 
The mileage at the cloee of the year waa aa follows : 

Unas af road owned, loci, line froil Mojtrg to the Needl-!**. 1,S63-170 
Leased: Baa Baraardlao to Motor Joactloa 7170 

Total t.970-3to 

..— - 878-WO 

t.9S0-330 



■The Has between MitfaTS. CaL. and Iha Weedlas. t43-31 mllas Id 
leactb. U leased, aad eoaUae* feilTsred for lu ssto to the AtlaaUo A 
Paeiae Railroad Oesspaar. that Ossapsn? parlas, ■• realal, an asionot 
equal te lbs laMfast oa the beads wUeh were lua <d la r»«paet of said 
UaOk Tbls reaial aaoaala to the aaanai sam of t*9«,iM. and u 
treatad aa raalal reeelrsd f >r aeeoaat ot floatkers PasMe B*llro*d or 
(WitscBla, ia the seeooatiag batweea it sad tbs Soatbera PsclBo 
Otmptaj- 

Oa Majr S. the eitenston of tb« Coast Division (roia Saata ICarmriu 
taSaa Lots Obispo, IS0O sHes, was opened for baslaosa. At thit 
dale, irsek has been lall 37 mile* sooth ihareof, sod work on tbs ex 
teasion toward Elvood, a distance of about 90 ml.es. Is slaadllr pro- 
crcsslag. 

lariTAL STOCK. 
The capital stock outatandini; at the cloae ot lb* f esr con- 
eistrd of eM.02» sbarea. of 81W) each, amountinK tn tliS V>-2.9tx>, 
of which |87,tt73.500 ia owned by the itoutbern PaciHc (.'oiii- 
pany. There was ieaoed dariog the /ear capital stock to the 
amount of 8A07,0U0 00, in paTment lor oooatn.ctiOD of lioe 
from Sanu Margarita to Saa Laia Obiapo. 

rUKDBD DBBr. 

The hooded debt ontaiaiKling at the close of the year in 
shown 10 Table Na 1 —Assets and Liabilities. 

The ehangce la boodad debt durinK the year hare been as 
(oUowa: 
FIrsI Bt«e. Its aar rent bonds el lM3,tasiMd forcun- 

■ — ia«is - - - - 



I of 1»W> Biles of toad, fraai Itaato Marcsrtt^ 

laSaa Lois OMsyo VOCIMXWOO 

Vbst artfs. six fer esat beads of 1979 parsfeascd and 

364.000 00 



idnt 



also at par » 
of IMS tor &>'. 



oo of the 
boads eC 



•Btl/WOOO 



! 



The first tnortKaice gold boada of I8M ara also a lien ur>^>n 
all the Company's linea of railroad and land icranu, and are 
snbject only to the lien of ouutanding binds of the other 
clasecs above maationed, for exchaoKe axaiast which, ilolUr 
for dollar. suflieieBt bonds of IflM have bera reaerred : my that 
the tioods of IMS will flaally replace all other outsundinK 
bend* of Ihe Ccmpany except such as shall have been thereto- 
fore redeein*d and canceled from ihe proceed* of land sales or 
siokirg funds, or from the prooeeds of the aale of the M >j4Vd 
BratcL 

EARXINUS AMD KXTBIOU. 

The Oompanj's lines of railroad are operated by the 8 lUlb- 
em Pacille Company, under a lease for nioety-nine yearn. The 
ieseer, under said leas>-. asrees Ui pay the operating expanses, 
tazm and the interest on the bonded indebtedness ; anil t'> pay 
over to the lessor, at the oml of each year, 4i i>er cent of thn 
net profits which remain Irom the operation of the folio tIpk 
railroad*, leased by the aama iosuamant to the Southern 
Pacific Company, ris. : 

Southern PsciHc Rsilroad of Callfornis. 

Bnuchern Ps<Mflc Rallioid of New Mexico, 

Sou'l <■,.; Railroad of Arlzwa, 

Lo'ii • rn Rsilroad, 

Moriia;. .. ., ,...^iaoa ft fen- "" *• >-^ ■ ■ -Toperties. 

This Cbmpany's propori' 'Its, un ler the 

•boTM |..g4,i. for Ihe year eu'l: • l'<a4,Baiount>'d 

tn • 'fl 

.i(s and espenees of the properties of the Southern 
Pacitic Kiilrriad of Califoinia leased to the Southern PsciHc 
Oompany, f ir (he year ending December 31st, 188t, have been 
M follows : 



I »smlnr« 

■eiit.ii fr..iii \i; III 

tU» .N.r.ll. . 

JflwrlLLm-Mtt« rcu 



fie A PseMe, far road frnai Majare to 



. •8,0<H).33.> .->0 

436,36(1 OO 

177 *»o 



Total . 
■^ Operstliic 

It sse lf ta over operatlns es] 



i. 



i9,43.-..»;7- -o 

ft.ittft.:! 1 1 M> 



. ♦3.7'»o,3:i<;^'t 



Broighl forncard 9j,7*>,S36 94 

Other CKargu and ErpendUunt— 

Taxes. f266,873 89 

Interest on bonded debt 2,895,458 3'i 

Interest on otber debt 7,975 23 

Rental for San Beruardluo A Redlands RR. 6,000 00 
Rental for terminal f aeiUtles, San Francisco 48.500 00 

Rental (or shop (acuities, SaiDnuneiito 6,673 20 

Mlseellaneous rentals 4,805 00 



Total. 



- 3,234,285 64 

Surplus from operations $546,05130 

The year 1894 may, in the history of this Cooipiny'g opera- 
tions, be considered aa one during which an unusual ombio- 
ation of unfavorable conditions prevailed, and which operated 
to exceptionally reduce the earnings of the Comptny for the 
year. The drought reduced the wheat crop so that it was the 
smallest crop since the year l^STi, the price for wheat was lower 
than in any previous period, ami all the branches of trade were 
unfavorably affected by the general I>usiiies9 depression existing 
throughout the entire United States. From these causes 
resulted a decrease in passeoKer earnioKS of $'^4:2,074 91 ; in 
freight earnings of 81.389,458 92, and in mail, express and 
other earnings of |88,458 88, making a total decrease of 
11.668,987 0«. Operating expenses decreased $410,778 68, 
leaving a decrease in earnings over operating expenses of 
tI.8W.M8 48. 

Of the dfcrease in operating expenses, 8176,955 81 was in 
maintenanoe of way and structures, resulting mainly from 
the large charges in the year 1)493 for reconstruction of line in 
Sootbern Cslifornia and tilling in Wilmington trestle: |J04,- 
68868 was in conducting transportation, resulting fr >m the 
deeivaae in train mileage and tonnage, and 881,008 85 was in 
general expens<s, mainly in salaries of officers and clerks 
and legal expenses. Ia expenses for mainteianoe of equip- 
ment there was a slight increase. Although the earniags 
had decreasetnargely there was no reduction in expenditures 
by which the physical condition of the property would be 
impaired. 

For tba general information of all interested, the following 
atatetcent of the operati'^ns of the oompany since March Ist, 
1886. wh*n iu propertiea were leased to the Southern Pacific 
Company, is submitted : 



OroM 



f'arttinijt 



mmi. 

18M.. 
IWI.. 
IWOi. 
19m.. 

im«. 

1M7.. 
I9M.. 
I««S. 



l,aS4-««l R.OW 
I4ll8S-i 10.6A9, 
1JM6-37 10.2:il.4'<4 
l,t74'54 9.27;«.>i 



1,235 so 3,S4sJm M 8.7*7342 64 
1.223 56 4,30a,10B 8713.704.800 06 



IXrtd 
tkarga. 



1,243 41 

l,24l'<il 

1.09I :. 

Baa;. 

W2l»7 
7»6-a7 



w.tvm.i" 



.31 1.<M5 1A|'J.)>S9.2XU 60 

-•a 

IS 

10 

.... .a 

1 ..'.^.t.Uttu 83 



Surplut. 



540,051 »0 

1308,31141 

1,682,875 54 

1,366,734 00 

689,439 01 

00,880 48 

e06,3AO IS 

170,071 3S 

179.654 76 

148,083 03 



■ Tbs S4S-5I miles. 



. are not iaolndod In this 



BETTKKMENTS AVD ADDITIOHS. 

There was expended during the year for betterments and 
addiiioiu, and charged to capital account, the sum of 8i33,- 
706 68. Tbeee expeodituraa were principUly fo.- : ballasting 
7 87 miles of track between Castroville and Salinas, '96 miles 
between Wilmington and San Pedro, 1 -55 miles in I.<oi Angeles 
spd 1-68 miles at the Palms, a toul of lf5l miles, $13,778 31 : 
additional guard rails on hiilgee, |3.:ffl5 71 : signs and elec- 
trical signaU at highway cnntings, 8V0OA .16 ; ash pit< in en- 
gine bouies at M j .ve, Beaumont and Stnta Ana, 8383 69 ; 
fencing 14 4'i mile* right of way, |S,I187 08 ; new station build- 
ings at Compton, Burlingame and Rolands, passenger station 
•I (kodebak-r, alditioa to station buildings at BikersHeld, 
Baaeing, Wanda and Han Jose, track tcales at Cnino, in*«r- 
locking plant at Cotton, eight new cufages ani aldliion to 
hotel at Indio. s*evedf>rra' cottages at Port Lis Angiiles and 
slock iM-ni at Hillsdale. $83,634 'ii : s'ction and tojl bouses at 
lid 'ing section buildiogs, $1,500 56 ; for 15 70 milas 

of !• . aidiogiiChss 2 65 miles lakrn upland double 

track tu Al.ime<tt Street. Lo< Ang'les, $78,910 52 ; additi mal 
guaxdrsilson linilnr trestles and extension of trestles for 
water ways. 87.492 97: new turn-table at L is Angeles, 83,504 75; 
new wa'er tsnks at Hillsdale and Inlio, $07j 07. For steam 
tug "Colli*," $45.51.1 41, and for rigbt of way and other Unds 
at Santa Monica, land on east siile of L'ls Aogel.ia River and 
station grounds at K-'dlaods and .Ssn Jose, $40,164 25. 

The total expenditures for t>eltermenls and additions from 
April 1st. 18M.'J. toU c-mlterSlst, 1894 amount to $.'1,311,731 71, 
This sum has gone into the appreciation of the property with- 
out increasing the bonded deht therefor. 

NO. 1.— ASSETS ASI) LIABtLITIKH. 

The asaets consist of : 

Costof P'.' ' ' lilM* (exolii1ln« land grant).... 6126,070,534 27 

Bspeilde<l K'Ots and addition* (rotn Mar. 1st, 
IMS,!" l«j»4 3,211,73071 

Total 6130,182,264 98 

t'»»h iiii hand , $75,077 36 

mil' r. • '• ■'-V 50000 

N'"t. of deferred pny- 

III' 1 3,504,019 15 

i^'iriiii'iiut - -MiiKiiib: fund, as per state- 
ment Wo. 4 1,097,137 35 

l.jiDd grant ulnklni fund, unapplied. ... 343.690 .'i7 

I'Dw^iiKted aocoiints 39 28 6,020,463 71 

Total ;. $136,202,728 09 



72 



THE CHRONICLE. 



[Vol. LXI 



Tbr lialtiliiiesarp: 

Cui'ltal -I 



8 p. KK, C<>. I HI mtw, bond! of 1878, 

due AiTll UI. ima. --• 

Boatbrrn r».lito Brmnph Rttllwoy 1st .,„„„-.-„ 

mUr. ntx IMT i.nt iMindii J,5i8,0OOO« 

Stockton * CdpiHTOimllii Rallroiiu Ist 

mtxv. llvBpcrwntboiidii - 

8. P. Ra c'o. l.t mtge. Ave per cent , ._, n-„o<, 

bon<l>a( 18S8 ■ l.*vl.000 TO 

B. P. BK. Co. Int mt«e. Are per cent ,.,..,^nnna 

booiUof 1893 14.445.000 00 

Account. imTol.lc. •^^'Jol ftO 

I)uc<-..iui.»nj'».lukin« fund.. ij3'?a7i?? 

I>iM Tni»it-c» of ljin.l firant Hort«8ge. 343,690 57 

DoaBoiitlicru I'licino ConipHny "i'Sil ?2 



$88,402,900 00 



6,154,000 00 



500,000 00 



Una^jnat*^ accoiinU . 



7,674 16 



60,923,500 00 



611,179 49 



^^ 8 119j37 , 679^ 

Balaner, uteU over liabilities and capital stock $15,265,049 20 

No. 2.-PROFIT AND LOSS. 

This account standi as follows : 

Cr. 
Income from operations under lease to 



Sontbem 

"PaolfloOo. for the .V. ar endluK Deo. 31, 1894 

Income fro<a land sales as per table No 3.........^... 

Income from bonds owned by Clompany's sinking fund 



$526,322 26 
79,571 06 
42,832 50 



Total $648,725 82 



Dr. 

General expenses 

EzpeuACK iiud taxes for account of land grant 

Premium imtd on six per cent bonds of 1875 bought 
and cancc led ■.-■••;- 

Income applicable to redemption of six per cent bonds 
of lMT.%^vli.: 

Net proceeds from land sales $52,626 90 

InttTest from invc»traents owned by 
Couipiiuy's HinkiiiK fund 42,832 50 

Annual contribution to Company's sink- 
ing fund 100,000 00 



Total. 



$29,523 34 
57,902 92 

26,044 16 



195,459 40 
$309,829 82 



Balance, surplus for the year $338,89600 

Balance, surplus Jan. 1, 1894 $1,759,190 33 

- I Bdlusunenu of taxes, 1880-1887... 218,384 20 1,540,80613 



Surplus Dec. 31, 1894.. 



$1,879,702 13 



NO. 3.-INOOME FROM LAND SALES. 
(For Kedemption of Six P. C. Bonds under Mort. of April 1st, 1875.) 

Total amount qf sales during the year, cash and de- 
ferred paymertts $19,415 98 

Interest collected on notes representing deterred pay- 
ments ou prior sales 60,155 08 



Total 

Less premium paid on bonds redeemed. 



$79,571 06 
26,944 16 



$52,626 90 

1894 11,866,906 41 



Balance for the year. 
Balance January Ist, 

Total , $11,919,533 31 

Less balance due on contracts surrendered during 
the year 128,323 59 



Balance $11,791,209 72 



Applied as follows : 
Six per cent bonds of 1875 redeemed and canceled 

(face value) $7,943,500 00 

Due Trustees Land Grant Mortgage 343,690 57 

Kotes tor principal of deterred payments on lands sold. 3,504,019 15 



Total $11,791,209 72 

The amount due the Trustees Land Qrant Fund is secured 
by colla<eral. 

No. 4.- INCOME FROM COMPANY'S SINKING FOND. 
(For Redemption of Per Cent Bonds under Mortgage of April 1,187.").) 

Annual requirements of mortgage of April 1, 1875 $100,000 00 

Interest collected on Investments 42,832 50 



Total $142,832 50 

Balance January 1, 1894 1,451,304 85 



Total $1,594,137 35 



Applied as follows : 
For redemption of bouds (nt face value) $497,000 00 

For the purclmse of bonds held as an In- 
vpHluient, viz.: 

375 8. P. HR. of Cal. 5 per cent bonds $362,800 00 

202 S. P. Bran -li Ry. ti per cent lionds 202,000 00 

117 Northern Ry. 5 percent bonds 117,000 00 

180 C. T. i N. W. Ry. per cent bonds 180,000 00 

111 U. U. 4c8. A. Ry. 5 per cent bonds 99,900 00 



„ Total $961,70000 

Cash 135.437 35 1,097,137 35 

$1,594,137 35 
Since the cIcsp of the year the cash has been invested in 
|150,(XiO face valu First Mortgage Five Per Cent Bonds of the 
GaltrestoD UarrisburK & San Antonio Railway Company. 
NO. 5.-INCOME FROM ALL SOURCES. 

Snrplnn from Profit and Ix>«s (statement No. 2) $1 879 702 13 

Income from land »ales for redemption of six per cent ' ' 

bonds of 1875 (Ntatcmout No. 3) 11 791 009 70 

Income from Company's sinking fund (statement ' '" 
*»•*> 1,594,137 35 

Total (representing the balance of assets over 
liabilities, on statement No. 1) $15,265,049 20 



NO. 6.-RECEIPTS FROM SALES OF U. S. GRANTED LANDS, 
(During year ending December 31 st, 1894.) 

Number of acres sold 

Surrendered and canceled 



S,895-63 
50,801-66 



Total amount of sales. 



Oaab receipts on sales made — . — 

Cash collecteil for account of principal of notes given 

for deferred payments •- 

Cash collected for account of Interest on notes given 

tor deferred payments 



$19,415 98 
$6,280 13 

129,408 44 
60,602 94 

$196,291 50 
447 86 



Less Interest refunded _^ 

Total onsh receipts for trust land accotint.... $195,843 64 

Cash rocelptu from lea»es and »tunipa(,'e, which Is ap- 
plied towards expenses of laud department lb,538 76 

Totaloash receipts $212,382 40 

Under the stress of the general business depression a larger number 
of acres were surreiidi red and canceled durinK the year than were sold. 
With an Improvement in the general business situaaon the lands 
■which have thus reverted to the (Company will probably be the first to 
be sold. 

NO. 7.-HOLLINO STOCK OWNED. 
Loeomotlves ^"^ 

Baggageman and express cars 55 

Combination bagKape and passenger cars 11 

Passenger cars, Ist class low 

2d class 30 

Parlor oars _ J 

Tourlstoars (three-fourths interest) l» 

Pullman sleeping oars (three-fourths Interest) 50 

Dining cars 2 

Business cars ^ 

Total paasenger equipment 324 

Box cars (all classes) ^'^Z^ 

Gondola oars 134 

Flat oars ""g 

Tank oars J 

Conductors' cars °7 

Total freight equipment 3,474 

Boad service cars. 6* 

OENEBAL REMARKS. 

The business depression in the State of California during 
the years 1898 arid 1894 w as such as has never before been 
known in the history of the State. The financial depression 
ihronghout the entire United States had narrowed transac- 
tions in evtry channel of trade, and checked the steadily pro- 
gressing development of the great natural resources of the 
8tate. The already unsatisfactory condition of trade was fur- 
ther augmented by the low prices for graia and the short 
grain crop of 1894, all of which comiiined to diminish excep- 
tionally the earnings for the year 1894. 

However, all the indications for the year 1895 point to a 
material improvement in the Company's earnings. From all 
sections of the State come reports of large crops and a revival 
of general business. The citizens of the Stale of California 
are beginnirg to recognize that the breaking-up of the large 
tracts of lands into small farms, and inducing immigration, 
is of vital importance to the welfare of the State, and they 
DOW propose to take active measures looking towards this 
desirable end. As an illustration of the possibilities In that 
direction, increasing alike the material prosperity of the State 
and the earnings of the railroads, the San Joaquin Valley, 
which produces largely wheat, raisins and fruit, is reported 
to have an area of about 6,850,000 acres, but has a population 
of only 123,000 persons. Althouuh wheat, barley and other 
grains will continue to be the great staple products of the 
State— the wheat crop in 1894 was only 30,376.705 bushels, 
while it has been as great as 44,820,000 bushels— there has 
been a rapid development in other industries. This has been 
particularly so in fruit-culture, in which there has been a 
remarkable increase, as will be seen by the following state- 
ment for the past five years, as published by the California 
State Board of Trade : 

r«ar(. Pounds. 

1894 60(1,994,600 

1893 537,9,50,200 

1892 374,324,000 

1891 , 354,778,210 

1890 323,915,185 

In 1885 the entire output of California green fruit had been 
only 23,000,000 pounds. It is estimated that there are now 
about 401,145 acres of fruit lands under cultivation in the 
State, of which only about one-half is at present bearing. 

The output of beet sugar, an industry of recent date, 
reached 35,088,969 pounds in 1894, an<i constituted about 80 
per cent of the total output of the United States. The cul- 
tivation of olives is rapidly extending, and considerable area 
has been planted with canaigre, from which tanning extract 
is manufactured. The large extent of the mining and wine 
industries is too well known to require reference to them 
here. Mention of the above particular and of recently dev- 
eloped industries has been made merely to illustrate the great 
and varied resources of the State of California, and point to 
the excellent location and earning power of this Company's 
lines of railroad, as these resources are developed. 
Respectfully, 
WM. MAHL, 

Second Assistant to President. 



JrLT 13. 18M.J 



THE CHRONICLE. 



73 



%ht Cammercial S^ucs. 



COMMERCIAL EPITOME. 

Friday Niqht, July 12, 1895. 

0<>Der»I boaioPM oonditioos have coatinued cheerful and 
promising. Mid-summer icfluences have a momentary quiet- 
ing * Bixt upon negotiations for some leading articles of mer- 
obaodise, but the average moTement of staple commodities 
is greaily in « xceas of the corresponding period last year and 
the volume of trade appears to be steadily growing. The 
manufacturers are now quite generally fully employed, in 
some instances upon contracts running until end of year, and 
further advances in wagts have been accorded workers in 
metals and textile fabrics. Latrst adrioea regarding grain 
crops are coosidt-red promising, com in particular lookinj; 
well. r>ats steadily gaining acd spring-aown wheat in most 
localities resorted as showing greatly improvt^d moaneots, 
but exc«-8s "f rain reporedin winter wheat aeotions. Too much 
moisture also reported from principal oottoo Statea, but with 
some irodiflcatioD st the eloae. 

Lard oo the sprit during the early oart of tha w«ek was 
dull and i^asit>r, but rubarquently an increaaed demand from 
both the Incfil tmde and shippers canard an advance, closing 
stfadvatS Mc.forprime Western. 810c.for prime City and 7'05c 
for reHned f<'r the Cuntin«-nt. The specuIatioD in the locti 
market f<T lard futures has been at a standstill and during 
the flmt half of the week prices declined, bat subsrquf ntly 
there waa a rally in sympathy with the adraooa in grain and 
part of the loaa waa recover* d. closing ateady. 

aux.T OLoanra raiona or uamu rutuan a. 

gal Mon. rtut. WmL tktm. Pt^ 

Joly c 670 

Bepunbtt e. 6-kO 6-89 e-7S 6-63 6^75 8-T3 

Pork has declined and at ibo lower prices a good export 
boxines* haa been done to lb* West Indies, ckwing at $18 23'<i 
|U 'or mess. flSOIlS 'or nhnrt clear and $18 foa' family. Cu'- 
meats have had only a moderate ca'l. hut prices have ruled 
stronr. eksipg at 7(a7)ic. for pickled bellies. 12OI0 lb*, aver- 
air« ^ for pickled shoulders and 9^«)IOc for pioklad hsm*. 
I',. ■ ' ■ .1 been q li-t hat stead v, cluing at t8 tot meaa. t9<a\ I 
for i.i<kpt,tlt@$l8 for family and $17ai8 SO for extra ladii 
mt-ari. B-rf hams have declined, eloaipr at $18. Tallow ha* 
declined, clr«ing with sale* at 4)^0. Olao stearins has aluo 
(I.M li' .d, cloairg at ft^^'c. Lard stearine haa weakened, elm- 
a' - , . Cot'OD-eeed oU has deelined for yellow, closing .ti 
:•'-. fur prive yellow and 28<9Mfr for prima cmd«. Butter 
(is been fairly active at lower prioaa. closing ateadr at Wi 
1 7c. for creamery. Cheese haa b^ Qoiat and | rioe> have de- 
clined, cloairg easy at 8<88»ia for Suta factory full cream. 
Fresh effg* have be«n quiet but steady, closing at 18<918^c. 
for cl>o>ce W>^tem. 

Coffee further eaa*d off aonewbat in prioa without attract- 
ing much udditional demand and the tocM gwnerally is un- 
aetiled. Rio quoted at ISKc. for No. 7 flat bsMi ; gnod Cu- 
cata at 19c. and standard Java TI^SThfc Forfutara deliverv 
the bullish ek maol baa supportad prtoaa, bat there waa verV 
Utile new InvratnMot denaad, aod at the cloaa tha tone is 
•aav. 

The folk>wing ware tha Bnal asking prices: 
»"T. — U 9«e. I Ost. 14-POs. ; Jaa „,...U«.v. 

■•pi 14-7»s.lDse. — 14-7SS. I Maraa U-M«. 

Raw »uir«r?i have been available at former raiea. but were 

tnk" n lip with much freedom and supported in healthy tone. 

iK-sU quoted at 3^ir. for M-dag. lest and muscovado at 

'*deg test. ReQned •ugara were dipappointinaly 

«i<.w in movement but firmly held: grannlated quoted at 4^c. 

Teas "low and 'ssy. 

For Kentucky tobacco the demand waa alow but prices 
were steadily h> Id; sakf 175 hbds. Seed leaf tobacco haa had 
only a limited c*ll bat priewa were unehanced and stetidv: 
sales for the w,Hk w>n 1.800 cases, as follows r 100 caaea 1«92 
crop, N<.» Kiwlind Havana. IS'aSi'c.: 100 caaes 1898 crop. 
N- T ! Havana, l^ala^c: t80oaa<^ 1894 crop. New 

1 . ' >vana, ia@18.-.; 90u caaea 18M crop. Zimmer's. 

11', 01"-^ . 450 cases 1894 cmp. Zimmer's. orivate terms: 
100 caaea iN98crnp. Wiacnnsia Havana. lO^U^c; 50 cases 
1899 crop. Penrsyivania Havana, private term*, and 00 cases 
sutdri^e. .-lOSac ; also 1.000 balm Havana, «Sc.Ml OS, and 
son bal<a Sumatra. 00c fi^ 90 in hood. 

In the market for Htrsiis tin the apecnUlion has continue<l 

quiet ar.l [irices have weakened a tnfle. closinir quiet at 

14 lOr. Inrii » p ler has farther advanced and the r|..se wa« 

. , Arm at iO-Wl^llc for Lake. Lead has been quiet Ixit stead v. 

tk»intc «i 8 80<«8-82^c. for domestic. Rpelier ha« declineda 

* tofle and the rl <»> was flat at 8 S7i.(O3-80c.. for domestic Pii: 

' inn haa t)e*n in fair demand and Hrm at $11 SOi^fU for do- 

me«'i - 

I; h . d petroleam baa anin declined, closing quiet at 
7 «.'c in l.bls.. 5-I.V. in bulk and Sr. in c<»ei«: rnide in bhU. 
bss ben noninsl; ranhtha. 9 Z.V. C ude certid .ites have 
advanced, einmnir nt |l .'I'l bid. Spirit* tiir|>entine hv de- 
clined in I the close wsa eaay at 2><'»2H'jr;. Rosina have 
weakeni.l <lii;htlv. rioaing at 81 55(t|l .')7>^ for common and 
^*l Mraioe.1. Wf>ol has been in fair demand aod firm. 
Hope have been quiet but steady. 



COTTON. 

Friday Nioht, July 18, 1895. 
The Movement of the Cbop, as indicated by our telegrairs 
from the South to-night, is given below. For the week ending 
this evening the total receipts have reached 5,866 bales 
against 3,795 bales last week and 6.223 bales the previous 
iveek. making the total receipts since the Ist of Sept., 1894, 
7.830,816 bales, against 5.*99.6S-i hales for the same period of 
1898-4. showing an increase since Sep.l. 1894, of 1,951,130 bales. 



KtetpUal— 


aau 


JTon. 


Ttu$ 


Wed. 


TAurt. 


m. 


^alveaton 


in 




66 




60 




Valaaoo, Ae 


...... 


...•• 




••>■•. 




32 


*ew Orleans.. 


29 


1.173 


4» 


166 


66S 


17 


viobUe 


9 


1 


8 


7 




8 


riorlda.... 














Isvannah 


IS 






10 


S 


SO 






Bnmaw'k.Ae. 


...... 






• »••• 






(Jhariaaton 


1 


1 


7 






1 


n. Royal. Ae. 


••-••• 


>••••• 




•••••• 


■•••■• 




srUmlnKton.... 


s 


6 


1 


4 


•••••■ 




Washton. As. 










■•■•« 




•orfolk 


7 


7 


15 


1 


S6 


30 


WeatPotat... 


18 






■••••• 


>•■••• 




N'iK>rtN.,*e. 


...... 




•••■>• 






187 


tew York 


~.... 












Boa ton 


lis 


83 


n 


98 


61 


27S 


Baltimore 








M.... 




187 


Phlladalph-aAe 


3,08« 


...... 




77 


00 





Total. 



238 

33 

2,009 

81 

111 

-10 

""fs 

...... 

95 

18 
187 

669 

187 

9,263 



rotTs this week 2.385 1.275 881 



SS8' 



907 



710' S.S66 



The following shows the week's total receipta, the total sinre 
Sept. 1. 1894. and the stock to-night, compared with last veat 
~^89*-95. 



/uiy 19. 



Salvsston.. 
rslssso, Aa 
few Oiteaas 
«obn*.... 
nertda... 
lavaaaafe, 
Bi'wtakUke 



P.B«Tal,Aa. 
<rualainaa_ 

Wasa'a. I 
■ortolk... 

Weat Pofat 

rp'tIT..A« 
«sw York 
Bostoa.... 
Balttaass. 



Wttk. 



288 

32 

2,099 

fl 

111 

10 



18 

95 

18 
127 



669 

187 
2.2531 



1.1894. 



1,658.384 
73.990 
2.571.680 
234,307 
25,895 
941,159 
102.809 
487.413 
160,788 
984.486 
988 
469.789 
286.03S 
42.933 
137.107 
164.716 
118.792 
152,212 



1893-94. 



ThU Unet 9*p. 
Wttk. 1. 1893. 



468 

508 

1,446 

40 

10 

1.574 

156 

131 

58 



899 



104 



165 
597 
362 



.008.231 
43.590 

.860.233 

197.944 
86.391 

961.858 
9K.041 

338.039 
80.768 

189,544 
490 

489.547 

239,119 
61.512 
70.529 

100,301 
60,906 
67,684 



I 5.886 7380J16) 8,910 0,899.6»6 899,189 888,009 



1895. 



10.841 



105.456 
5.936 

5,645 

2.200 

19,068 



8,198 



14,285 

9S8 

. 2 

197,175 

4,600 

12,480 

11,000, 



1894. 



8,163 



44,881 
4,769 

8^83 

854 

18 698 



8,868 



9,908 
ICO 

165.186 

5.400 

11,014 

5,710 



iBovder that oonpanaon may be made with other jraara, we 

Five halaw tho tAtmla at iaa/Hns nnr«a tnr ei^ ••••<<«• 





1995. 


1894. 


1893. 


1893. 


1891. 


189a 


Oalvas'a.Ae 


270 


970 


792 


1.693 


696 


40 


■avOrlsaM 


8.099 


1,446 


7,751 


7.084 


3,981 


849 


llaMIe 


21 


40 


27 


185 


149 


5 


aawaaaafe... 


111 


1.574 


1.860 


1.103 


1,873 


349 


OhaKisa,Aa 


10 


887 


939 


252 


744 


186 


«lfaatsa,A« 


IS 


58 


77 


79 


68 


18 


Verfoik 


95 


896 


1,747 


354 


051 


19 


V. rolBt.As 


145 


104 


490 


893 


8.179 


79 


lUeUars .. 


3,103 


1.014 


3,069 


4.635 


9,938 


963 


IM.tUswk. 


5.866 


5.910 


15,763 


16.176 


14.172 


3,599 


•■eeSeiM.1 


7860,816 


58e9.686 


5036.458 


7078,373 


6884,614 


6783,896 



Theexportafor the week ending this evening reach a tota' 

of 19,U2 bales, of which 7,«!» were to Oreat Britain, 

>o France and 1 1 ,363 to the reat of the Continent. Below are 
theexporto for the week and alnce September 1, 1894. 



lalvaataa. 



VavOrlaana.. 
KoMla* Pan. 



Sraaawlak.. 



WUalnstoa 
eorfbtk... 
Waat Potnt. 
■■s'l Haw*, ht 
<a» Tors. . 



BalltaMra.. 
rkllaSsla'r.Aa 
Total 

fotal. laaa-M. is ax 

•Includlaa Part Kojal. 



ir«a» 



i»»a i ai| ,r«l* U. 



0rM< OaaM.) IMal 

Srll-a. »►»»• ntmt. Wttk. 



SOI 
WSl 



7.1*W 



4,700 



4,SM 



SS7 



ii.tes 



I.I 
sjno 

4.700 



usai 



ry»m Sfpi. I. I'vt. u juii/ 1:1 ies6 

Btyortt to - 



Orfl 




C«al<- 




»rual» 


t*»tiet 


iwnl. 


latal. 


aio.i'B 


<I3,<13 


WS.SB 


1.S48.M1 






»:.»o« 


S7.M8 


mssi 


««I.»<I8 


8«;.nM 


2,0lt.l» 


M.475 




SI.IM 


ISSMS 


ss.ias 


rr.ise 


<s4.m 


64«69r 


7«.;4A 




t8.S4» 


iaajS4 


UN,IM 


18.701 


*tt.f8S 


4«s.tn 


»6.0lt 


4.1S0 


I4a.im 


MISM 


iu.age 


• • ..■ 


4i.tt5 


l8Mt4 


T0.S1I 


,. 


M,»7 


107 JM 


SS47I 






33471 


««aoa'. 


<0,4;6 


mrs 


itajtaa 


WM.oflS 




1SS7I rss.iAi 


108.M5 


7,U6 


irsisi ara.Mi 


«!I8^4 




M.4aB usss 



lk.l4S 8,401.717 771.4 17 a,l8l.«45S,aM,a8a 



aiasi sa.m t,BB«.i»a»«».i>ii i.«;«g7»tin«89 



74 



THE CHRONICLE. 



[Vol. LXI. 



In addition to above exports, our telegraniB to-night also 
five u« the following amounts of cotton on shipboard, not 
■ol6*red, at the porta named. We add similar figures foi 
New York, which are prepared for our special use by Messrs, 
Lambert ft Barrows, Produce Exchange Building 





OB %atraokMo, hot auiAKBi>— roa 


Leavint 
Stxk. 


Jmlf 13 «- 


artmt 
SrUaiH. 


rranee. 


outer 
FartltH 


Ooait- 

wite. 


Tbial. 


VswOrieans .. 

OalTceton 

■•▼SDnah...... 

<%arle«ton 

Mobile 


5,774 
None. 
None. 
None. 
None. 
None. 
«00 
3.700 


None. 
None. 
None. 
None. 
None. 
None. 
SSO 
None. 


1,418 
None. 
None. 
None. 
None. 
None. 
2,950 
1,500 


30 
68 

None. 

None. 

None. 

2,850 

None. 

None. 


7,222 
6^ 
None. 
None. 
None. 
2,850 
3,S00 
4,200 


98,234 
10.773 

5.64.% 
19,068 

5,936 


Kortolk 

Haw York 

'Other porta.... 


i^gs.'i 

193,375 
29.533 


Totall89S... 


9,074 


350 


5,868 


3,448 


17,640 


374,499 


Total 1894... 
Total 1893... 


4,308 
19.229 


None. 
4,876 


12,730 
14.678 


3,650 
3.65R 


20,638 
41,941 


26 3,920 
298,530 



Speculation in cotton for future delirerf at this market has 
•mbodied very few strictly new ventures. Much animation, 
Itiwever, has been ebown in handling old engagements for 
liquidation or change of position, and at times trading was of 
•n exciting character. Impressions regarding crop probabili 
ties served as a guide for most operations. Saturday's market 
made 4 points net gain on px>r weather reports and covering 
orders. Monday brought steadier foreign advices and con- 
tinued wet weather reports from the South, anl 7 points 
additional advance took place. Oa Tueslay there was b 
break of 10 points under free selling to close long engage- 
' ments and draw profits. Wednesday opened with an advance 
of 6@7 points, but upon appearance of crop condition report 
from Al^ricultural Bureau, showing 1 8-10 gain during June 
instead of loss, as had been expected, holders of long eagage- 
ments soli freely, forcing a decline of 17 poin's from highest 
■»dA showing 10@U poiot^ net loss for the day. Yesterday, on 
cable advices indicating that Liverpool had not became serious- 
ly depressed t.y the Bureau report, there was a quick recovery 
here of 10 points; the firmness increased by a renewal of rain 
reports from the South. To-day, however, the foreign news 
was tame aud weather reports better, causioi; a weaker tone 
and lower rates. Cotton on the spot dull at 7J^3. for mid lling 
uplands. 

The total sales for forward delivery for the week are 723,1C0 
bales. For immediate delivery the total sales foot up this week 
4,020 bales, including 1,000 for export, 2,SJ0 for consumption 
— for speculation and 100 on contract. The following ar 
.ttie official quotations for each day of the past week- 
July 6 to July 12. 

wttes on and off middling, as established Nov. 32, 1893, 
by the Revision Committee, at which grades other than 
middling may be delivered on contract: 



PWr 0. IH 

Middling Fair. 'g 

Btrlol Good Middling H 

Good Middling ^is 



Btrlot Low Middling.. 

Low Middling 

Btrlot Good Onllnarr.. 



on. 
on, 
on. 
on. 
oB. 



'le off. 

l»l«Ofl. 



Good Ordinary o. m off. 

Good Mlddlluir Tinged... Even. 
Strict Middling Stained.. V oft. 

Middling Stained l\i ofl. 

Strict Low Mill. Stained.. M^joH. 
Low Middling Stained iV oH. 



On this basis the prices for a few of the grades would be 
follows: 



UPLANDS. 



Good Ordinary. 
Low Middling... 

Klddling 

<}oodHldillng. 
Middling Fair... 



Sat. 



6 



Mon'Taes' Wed Th. I Fit 



81i« 



8l,« 



6 
611,. 

I- 



6 

eiii, 

7'l6 
8 



6 



GULF. 



Oood Ordlnarr. 
Low MIddUng .. 

Middling 

Oood .Middling.. 
Mlddliog Fair .. 



Sat. 



6V» 



non Taes 



esi6 

7 
77,« 

eiS|. 



6»i« 

7 

7-,g 

7% 

8h« 



Wed 



6>4 
7»8 

7"i« 

8>4 



Th. 



BII>,. 
7% 



Fn 



6i< 

61B,8 

7% 



711 
8V 



l(t 



STAINED. 



Sat. nion Tu'es 'Wed 



Low Middling 5\ i 

MIddUng 6'ii« 

Strict Ml Idling 62»;J, 

Oood Middling Tinged.... I 7i« I 




MARKET AND SALES. 

The total sales of cotton on the spot and for future deliver? 
each day during the week are indicated in the followinJB 
Kaiement. For the convenience of the reader we also add 
« oolumn which shows at a glance how the market closed on 
aame days. 



■rOT HABKCT 
OLOSBD. 



•afday.'Dnll 

Mondar Istesdy at ii> ad. 

Tneedar Dull 

Wed'dar dteadv at >]( do. 

Thur'd'y Steady 

niday.. Easy 



Total. 



SALBS OF SPOT AWB OOWTBACT. 



*«- Oon- I Spec-f Oon- 
port. tump.\ut'l'n tract. Total. 



1,000 



1,000 



1,160 

iio 

740 
2401 



2,920l 



100 



100 



1,260 

780 

1,740 

2i0 



Salet oj 
Futuro. 



37,000 
f3.100 
1 G.300 
21 1.XOO 
15.5,200 
120,000 



4,020' 723,100 



The Sales and Prices of Fcturks are sho^vn by the 
comprehensive table. 




• Includes sales in September, tor SeptemDer, 2S,100; Septemner • 
October, for October. iH.aoO; Septeruoer-Xoveiubar, for November . 
413,600; SBptembBr-Dsoeinber, for Decembar. 1.I62.UJ'; SBptember- 
January,for January. 3,175.3 ' ; September-Februarv. for February , 
9ol.9<M<; September-Maroh, for Marcli. 4 ■<73.l » : Septeiuber-Aprli, 
for April, ti20.2'J : September-May, for May, 4,554,500; Siutember- 
June, for June. 2,701,6iH). 



For exchanges see page 77. 

The Visible Supply of Cotton to-night, as made up by cable 
and telegraph is as follows. The ContinenUl stocks, as well as 
those for Great Britain and the afloat are this week's returns 
and consequently all the European figures are brought down 
o Thursday evenini^. But to make the totals the complete 
figures for to-night (July 13 1. we add the item of exports from 
the United States, inclu ling in it the exports of Fridav onlv. 



JULT 18, 18M.] 



THE CHRONICLR 



75 



IBVS ISM. 189S. 189k 

Sloek at Urarpool bale*. 1^1!).000 1.331.000 l^Te.O'W 1,M9,000 

MoekatUmdOD 8,000 6.000 7.00 9.000 

Total Onat Britain itoek. l^SG.noO 1.337.000 1,383.000 1,S58.000 

)l«ek at Hamburg 29.000 35.000 14,000 6.000 

mookatBraaea 269.000 1&4.000 141,000 126.000 

MoakatAaatardam 15.000 13.000 17,000 Sti.ooo 

ateekatBMIertaa 200 200 200 joo 

aioekatAatworp 13.0uu 13.000 10.000 7.000 

noekatHavT^ OO.OOU 394,000 387,000 414.000 

aioek at MarMlllM ~ 5.000 7,000 8,000 10,000 

Moek at Baroelona 91,00U 73,000 104.000 91,000 

BtoekatGoaoa...— ~ «3.0U0 13,000 24,000 17.000 

■MakatTrloMa - 84.000 35.000 29.000 4 8.000 

Total OoaOaeatal (toeka. 949.200 737.200 734.200 74S.20O 

Total Binopaaxtoaka.... S.474.200.<.074,200 2,1 17.200 2,306.200 
IndlaoottonaOoatforSarope. 1S5.000 78.000 65.000 A!).000 
ABar-eotraaaoatfavKaTopo. 67,000 66,000 83.000 77.000 
K|n(.Biaall.Ae.>flt(orri>pe 16.000 30.000 30.000 '^4.000 
WDIlTa Palted Btat— porM. . S93.139 281.608 340.471 494.563 
•taeklaU. 8. iBtarlortoww.. 58.762 76.577 120.466 165.«9« 
OkliedBiaieiexpoTtt to-day. 3«e 1.232 4.356 1.780 

TMal Tldbto (Of ply 3.148.467 O09.617 2.759,493 3.158.248 

Of the abore. lotaU »t amenean and other deMripUoni are aa telio* •: 
Jiwun^on — 

Urarpool stoek bauM. 1,390.000 1.I2S.0OO 1.131.000 1,316.000 

ObattDaatal Moeka 854,000 563.000 606.000 55O.000 

Aaerteaa afloat for Eorope... 67,000 66.000 82.000 77.000 

OaltedBtateaetock 3»i,l39 288.608 340.471 494.5^3 

UolMdStatea Interior itocu.. 58,762 76,577 12(>.4«6 165.6I>6 
nnlled Stataa axporu lo^^ay. 866 1,233 4,356 l,7»9 

Total Anertean 2.762.267 2,115,417 i.iiiMtiXSiOM 

MmM hiS»^», BraaU. Se. - 

Urerpool itook 184,000 306,000 258.000 883.000 

LondoDCoek 8.000 6,000 7,000 8.000 

OanUaauUl (took* ^ 94.300 174.200 138,200 188.800 

India ailoat for Europe. „ 188.000 78.000 65,000 88.000 

Egrr^ BraiU.4te..aiea t . 16.000 30.000 30.000 34.000 

Total laalladla.Aa 381.3«*0 4»4.200 485,200 553.'J00 

TOtol ferleaa 2,762,267 i.ll5.«17 2.274.293 2.60a ,048 

v,..I?*»' '^•!'"« •W" ».n|jW7 2.606 617 *.7M,4*i ijBosa 

Mlddllnc Upland. Urerpool.. SXW. Sit.«d. «M. 8»ied 

aUddllM UaUad. Hew fork.. ^flSi 7W B<,Te: tK^ 

■«rp»«fao<Brawa.UTar»eol Oiiiad. 5d. 54..d. 4>*„d. 

r«r«T.Bo«fheood.Urerpoal 5*,«d. Si>iad. 6i^ 64. 

TlaaaraUrOood. Urarpool.. SM. ISA. 4^4. S>»|ad 

tW The iotporti into ContUMBtal porta the pMt wc«k lutT* 
been 43,000 ImIco. 

Tbe aboTo Akoim i>-xiic»t« an faeraaat in the cotton in aigl t 
te-niKht of ^i.ti'i') twleii aa compared with tbe mme dale 
of IWti, an incrtase of 883,971 balea over the oomapondins 
date of 18M and a derreaae of !4,781 bale* from 18M 

AT TBI iHT EBioB Tf>w m tb« moTosMnt— tbtt u tbe reoMpi* 
tor tbe week, and JT'.ik, September 1, tbe ahlpmenta for th» 
week and tbe atocka to-ttiirfat, and the aame itema for the 
eorreapoadlnc period of UM-M— ia aet out in detail below. 



' (QUOTATIONS FOR HiDDUNO UOTTOS AT OTHSR MARKETS.— 

Below we give closing quotatiooa of middling cotton at South- 
' ernand other principal cotton markets for each day of the week. 




^? 



»S hi BgB 

<t? :£! > 1 1 1 tISa 



1 1 1 1 1 1 



r-*: 




9\ " 



s=5; : 8s 



•-* »•-*— w»e 



t — o; •-: ! 















»e *o >«t»'4i»,»te«'-»»-'^.j.<'«<^o«oe..i.i 




«■ : r ' ', • ■ I f >« 

•: •••■■ * ^! • • m — »• If? 

»■ ccai. -le-ijw o-<o. : o»«^g5E- Zu- ie-»i * 



#$ 






.^•.5?iS2S?S^:}^5f25tJ2r8SI?S ij 



i 

T: 

1 



■ ** i I i 3r * 

^? 2i s^gs;; gas; i ggseSS' U^ i aal ^^ ^ 

- -• -- - !l?li 

■ -»>«• ''.'M«*-^ _ 5. I 

"•• anraa •• aet" la both roan. 

'* toula show that thn interior atocka hare deermitr^ 

■ week 5.9«2 balen ami are now 17.SI5 bale* Imn 

I'^rlod laat year. Thp rrceipta at all the towo» 

' balaa lm» •b»n Miii.e week laat year and 'Jp< • 

...u9,W0balea aiora ihKS for «tmetim> id ]»>'' -B°. 



rack tHdiHf 
Jutf 13. 


01.0811(0 QOOTATIOHS FOB MIDDLIilO OOrrOH OR— 


talur. 


JTon. 


IStn. 


iradiMf. 


I%ur«. 


JH. 


OalTtatOB... 
NawOrleaaa 

Mobile 

SaTaanab.. 
Charlaatoa, 
HTIImtnrton 

Norfolk 

Boatoa 

Baltimore.. 
Philadelphia 
Angoata.. . 

MempUa 

St. Lool* 

Iloaiton ..... 
Cinotnnatl. 
LonlaTUle. . 


6'. 
6<>i 

%t 
7>a 

'»8 

7 

6% 

6^ 

61 1„ 

7 


It 

7 
6*1 

«\ 

7 


6»8 
6\ 

%> 

6^ 
6% 

7 


6°B 

7H 

7 

6\ 

6% 

611,, 

7 


6''9 

6% 
6^ 

7 

6% 
6H 
611,, 

7 


6'. 
6U|» 
6»a 
6% 

?;• 

7 

6^ 
6% 
eiiia 

7 



e«j>7 



The oloaing quotationa to^da? (F^riday) at other important 
Southern marketa were aa foUowa. 

AUanU 6>t UtUa Book.... 6 I HewbetTT 

(Vilumbui. Oa. 6i« Montsomerr... tHlBalelch 

Columbas.Mlaa 6 ITaahTlUe 6''a Selma. 

Kafaula 6i« Hatehaa e>« IBhrereport..... j«4 

BaUKU>18 FBOX TBB PLANTATIONS.— The following table 
Indt ea ta a the actual movement each week from the plantationa. 
rha flinuea do not include orerland receipts nor Southern 
joaamnptioo; thej are (imply a atatement of tbe weekly 
morement from the plantationa of that part of the crop which 
Snallr reaches the market through tbe outports. 



ir«ak 


B>H»riall>«ffw««. 


an at laKrtornwM. 


Bw'yU/rMi Ptaafw 


*■*** 


MM. 


>8»4. 


VM. 


laas. 1 i8a4. | ueA. 


UM. 


1804. 


uaa. 


Jaas 7 


fa,M 


UMn 


lajaa !«?.«»• 114.131 «a.4ti 


IUI8 


•set 


4.(» 


- 14 .. 


«o*jai 


lAais 


u.tn i«a.Mij sej8* }«.<m 




8.««4 


M6I 


•• a .. 


aa^ta 


lAMa 


i*U4i«a:a4 8t.*47 


*t.aM 


«,M« 


4 434 IUH7 


" IB. .. 


ia>M 


lUM 


ajaa ia».a*a aajaa 


•r.810 


IJM 


a.Mi 3,ua 


Ju)7 t. ... 


lajM laiis •.Tttiita.tao' tsim! «i.-24 


a 171 


a.t«j «4» 


• l« 


U.7M taia 4.aMi«o«a« ;a.5:T uti«i> 10.41H 


S,I01 .. .. 



The abore at a teme nt ahowa; 1.— That the total reoeipufrom 
the pla nt a ti oaa aiooe Sept. 1, 1894. are 7.S.V2.313 balea: in 
188M4 ware -t.OTO.OO; balea: in 189-.!-9:f were r>,01-<.390 balea. 

S.— That althoogb the reoeipCa at th« outports the paat week 
wera 8.3M balea, tbe actual ntorement from plantationa waa 

only balea. tbe balanoa beinc Uken from tbe stocks at 

tbe interior towna. Last year tbe reoeipta from thf plantations 
for tbe weak were 3.101 balea and for 1fl»3 thev were 
lt'.448I " 



OTBLAXD HoTKKzirr roR THE Wbbk and sincb Skpt. 1.— 
We^vo below a statement ahowing tbe orerland ^orement 
'or IM week ami since September 1. Aa the returns reach us 
by talamph late Friday night it is impossible to enter ao 
larg aiy^in to detail aa in our regular monthly report, but all 
■ ha nateoipal matters of interest are given. Thia weekly 
pubtMaUoa ia of ooorae aupplementary to the more extended 
monthly atateraenta. The results for tbe week ending July 19 
and since Sept. 1 in the last two years are aa follows: 



/«/y 1*. 



VU et. Loola ^.„ 

Via Cairo „^ ... 

rto Baaalbal 

riaKvBa«Tlll«..„ 

VlatxraUtlllr „ 

Vla« iD^lDoatl 

Via oth»r rontM, *e , 

Total >roM oTcfland ...... 

OvorUnd In ST Y. 



Bet'" 
IbUi 



Boston, Ao. 

r trtwo«.„.,.„ 
u Soutli........ 



1884-00. 






188844 



IT***. 



8.817 
627 



809 
468 



atfie* 



Waaft. 



833,4851 

835,285! 
045 
8.H7 
H»,377 
177.713 
140.925 



914 
484 



290 

7''8 
407' 



8,304 1,779.947 3.878 



8.X0? 

31 

617 



Total tu tHi ilrdacted 

LvavtBRjoial net overlaoil ■ 
* Tneliidlac 



3.750 



1,»54 



872.827 
8'J.0O7 
78,321 



1.034 

3 

619 



eH3,155 
1.096.703 



1,546 
).Z32 



605.840 
23 1, -471 
18.75B 
7.360 
130.481 
106,160 
138,948 

1,328.825 

399.370 

21386 

102,652 

423,908 

799,917 



at br rail to Canada. 
Theforegoinff abowa that the week's net overland movement 
this year baa been 1. •'>.'> I balea, againat 1.332 bale* for the- 
weak in 1894, and that for tbe seaaon to date the aggregate net 
owtand ««hih{t» aa ».»re8* over a vear aro o' ?9ii.K7.") bales. 



/n Mghl anil Kpinntnf 
Taktnf. 

Roeelpri at port* tn Juij 13 

Vet oveilaad to Juir 17 

Sonthem coDsiimptlon to Julj 13. 

Total marketed 

latcrlor •tmk* In cixcf at 

Came Into •Ickt dtirtaa week. 
T<"al In Maul July 12 1 



1894.05 



lH9;>-9« 



W-k. 



Mine* 
a*9t. 1. 



raa*. 



■hpi. \. 



7,8'0.8I6 C.OIO 6,8! 9,686 

l.OPn.792 1.33i 7P9,917 

700,OOUi lO.OOOi 645,0(0 



17,243 7.844,603 
■2.409 411 



9,647,608 
1,427 



18,420 
•S,«62 

13,458 .... ! 
9,649,C35 

4.388 1,991.404' 



14.483 

.... 7,3t5,0U 

_ ( 

4.5«6 1.523.883 



. Bonh'n »plon«r»tak'giito Jnly 13 

* Deereaae dnrtig week. 

It will be reen by the above that there haa me into sight 
during the week rj.4'.3 bales, againat 14.133 bales fo the 
aame week of 1894, and that the increase in i. unr in sight 
to-Digbt aa compared with laat year ia 9,301,021 dales. 



76 



THE OHRONIOLE. 



fVoL. LXI 



Wkathkh Rkpokts by Tkl«uraph.— Advices to us by te\e- 
l(r»ph this enniuK from the Suuth are generally of a some- 
what more farorahle character. Rain has fallen in almost all 
looalitiee during the week, but as a rule the rainfall has been 
light. In some sections of Florid.-v, however, thtre has been 
too much moisture. Reports from Texas are more eati^fac- 
tory, ^ood proKre«R having been made with cultivation, and 
over the Southern portion of the State cotton is opening. 

Oalvexlon, Texa*. — The weather has been dry all the week. 
The thormometer has nverngi'd 84, ranging from 80 to 88. 

Paiextine. TVjvm.— We have had nin on one day of the 
week, the rainfall reaching thirty-eight hundredths of an 
inch. The thermometer has ranged from 70 to 90, aver- 
aging 80. 

Hant»vQle, Texas. — There has been rain on one day 
of the week, the precipitation reaching ten hundredth < of 
an inch. Average thermometer'S'J, highest 94 and lowest 70. 

Dallax, Tej-etx. — The weather during the week has been 
favorable for farming operations over pretty much all the 
State and gocd progress nas been made in cleaning the crop. 
The rains of the tenth and eleventh in Northwestern Texas 
have, however, retarded work in some localities. Cotton is 
fruiting generally and is opening in Southern Texas. Pros- 
pects are improving notwithstanding the fact that the plant 
has been injured by excessive rains in some places. The corn 
crop ia virtually made and is excellent. It has rained on one 
day of the week, the rainfall reaching flfty-four hundredths 
of an inch. The thermometer has averaged 80, the highest 
being 66 and the lowest 64. 

San Antonio, Texas.— Dry weather has prevailed all the 
week. The thermometer has averaged 84, ranging from 72 
to 96. 

Luling, Texas. — There has been no rain during the week. 
The thermometer has ranged from 74 to 98, averaging 86. 

Columbia. Texas. — It ha.s been dry all the week. Average 
thermometer 83, highest 04 and lowest 73. 

Cuero, Texas. — We have had no rain the past week. The 
thermometer has averaged 83, the highest being 96 and the 
lowest 68. 

Brenham, Texas.— It has been showery on one day of the 
week, the precipitation being seven hundredths of an inch. 
The thermometer has averaged 85, ranging from 74 to 96. 

Belton, Texas. — There has been rain on one day of the 
week, the rainfall being ten hundredths of an inch. The 
thermometer has ranged from 66 to 100, averaging 83, 

Fort Worth, lexas.-Vfe have had rain on one day of the 
week, the rainfall reaching twenty-two hundredths of an 
inch. Average thermometer 80. highest 96, lowest 64. 

Weatherford, Texas.— It has rained on four days of the 
week, the rainfall being eighteen hundredths of an inch. 
The thermometer nas averaged 80, the highest being 98 and 
the lowest 64 

New Orleans, Louisiana. — Rain has fallen on three davs of 
the week, to the extent of forty-seven hundredths of an Inch. 
The thermometer has averaged 83. 

Shreveport, Louisiana.— Vfeh&ve had rain on three days of 
the week, the rainfall reaching seventeen hundredths of an 
inch. The thermometer has ranged from 68 to 93, averag- 
ing 81. * 

Columbus, Mississippi.— Ad improvement in the condition 
of the crop is to be noted. We have had rain on two days 
of the week, the precipitation reaching five hundredths of an 
inch. Average thermometer 81, highest 93, lowest 63. 

Leland, Mississippi.— Vfe have had rain during the week 
to the extent of ten hundredths of an inch. The thermome- 
ter has averatred 79, the highejt being 87 and the lowest 70, 

Meridian, Mississippi.— Telegmm not received. 

Little Bock, Arkansas.— Uain has fallen on two days of the 
week, the precipitation reaching sixty-sight hundredths of an 
inch. The thermometer h is ranged from 66 to 90, averag- 
ing 76. 

Helena, Arkansas.— Crops are growing well but are grassy. 
Some blight is reported. Rain has fallen lightly on five days 
of the week, the rainfall reaching thirty-five hundredths of 
an inch. Average thermometer 77, highest 91 and lowest 64. 

Memphis, Tennessee.— The latter part of the week has been 
rather cool. Crops are generally in good condition, but dry 
weather is desirable. There has been light rain on four days 
of the week, the precipitation reaching thirty-three hun- 
dredths of an inch, and more it now threatened. The ther- 
mometer has averaged 76, the highest being 9 18 and the 
lowest 63 8. 

Nashville, Tennessee.— Riin has fallen during the week, the 
rainfall reaching two inches and seventy-five hundredths. 
The thermometer has averaged 7.5 and has ranged from 63 to 87. 

Mobile, Alabama.— The weather has been more favorable 
the past week, hut there are complaints of an excess of grass 
aod weeds. We hare had rain on two days of the week, to 
the f xtent of fifty-nine hundredths of an inch The ther- 
mometer has ranged from 68 to 92, averaging 81. 

Montgomery, Alabama.— Vropa are improving. We had 
rain on three days in the early part of the week, the rainfall 
reaching twenty-three hundredths of an inch, but latterly the 
weather has been hot and dry. Average thermometer 81 
highest 89 and lowest 73. 

Selma, Alabama.— Cropn on low lands are claimed to be 
unpromising, the plant being large but with little fruit, 
rields are very grawy, but are now being cleaned. Prospects 
fair on uplands. There has been rain on three days during 
the week, the precipitation reaching fourteen hundredths of 



an inch. The thermometer has averaged 78, the highest 
bein? 90 and th'^ lowest 68, 

Madison, Florida.— Fields are getting grassy as a result of 
too much moisture. Rain has fallen on every day of the past 
week, the rainfall being one inch and seventy hundredths. 
The thermometer has averaged 80, ranging from 68 to 89, 

Columbus, Oeorgia. — It has rained on two diys of the week, 
the precipitation reaching one inch and thirty hundredths. 
The thermometer has ranged from 70 to 87, averaging 80. 

Savannah, Oeorgia. — There has been rain on six days during 
the week, to the extent of one inch and forty-seven hun- 
dredths. Average thermometer 81, highest 96 and lowest 65. 

Augusta, Oeorgia. — There has been rain on four day^ of the 
week, the precipitation reaching one inch and eighty-six hun- 
dredths. The thermometer hsu averaged 78, the bignest being 
93 and the lowest 65. 

Albany, Georgia.— We have had rain on one day of the 
week, ttie prtcipitation being two hundredths of an inch. 
The thermometer ha< averageti 83 3, ranging from 73 to 9t. 

Charleston, South Carolina. — Rain has fallen on four days 
of the week, to the extent of seventeen hundredths of an 
inch. The thermometer has ranged from 73 to 95, aver- 
aging 83. 

Oreevwood, South CaroHna,— Telegram not received. 

Stateburg, South Carolina.— Crops are progressing finely. 
There has been rain on two days of the past week, the precip- 
italion reaching eighty-six hundredths of an inch. Average 
thermometer 78-1, highest 89, lowest 67. 

Wilson, North Carolina. — The week's rainfall has been 
seventy-seven hundredths of an inch, on two days. The 
thermometer has averaged 80, ranging from 6 ) to 90. 

The following statement we have also received by telegraph, 
showing the height of the rivers at the points named at 
S o'clock July n, 1895, and July 13, 1894. 



Sew Orleans Above leroot caui;e. 

Mempbis Al)ove zero of Kauge. 

Hashvllle Above zero of gauge. 

Shreveport Above zero of gauge. 

Vloksburg .Above zero of gauge 



July 11, 


95. 


July 12. '94. 


Feet. 




Feet. 


3-7 




4-5 


8-9 




10 9 


7 




30 


18 2 




1 1 


12-7 




4-5 



India Cotton Movement From all Ports.— i'tie receipt • 
and shipments of cotton at Bombay have been as ft)llow9 for 
the week and year, bringing the figures down to July 11, 

BOMBAY RSOBIPTS \SD SHIP.MESTS KOR FOOK TEIBS. 




aMpmenii 1 At< week. 


ahipment$ tinee Sept. X. 


Reeexpi 


Tear 


Orial 
BriVn. 


Conti- 
nent. 


Total. 


Great 
Britain 


Conti- 
nent. 


Total 


Thit 
Week. 


Stnee 
SepLl. 


'945 
•93-4 
•92-3 
'91-2 




6,000 
3,000 
2,000 


6,000 
3,000 
2,000 


26,000 
46,000 
41,000 
68,000 


509.000 
744,000 

779,000 
813,000 


.S35,000 11.000^1,471.000 
790,00(^ 15 000 1.745.000 
820,000 11.000 1.701,000 
8sl,000l 9.000 1,713,000 



Calcutta— 

1891-95... 

lt'93-94... 
Madras — 

1891-9-5... 

1893-91... 
All otliers— 

18H4-95... 

1893-94... 

Total all— 
1894-93... 
1893-94... 



8IHpment$fortKe week. 



Qreat Oonti- 
Britain, nent. 



1,000 
3,000 



5.000 
4000 



6,000 
7,000 



Total. 



1,000 
3,000 



5,000 
4,000 



6,000 
7,000 



SMpmente since Sept. 



Britain. Oontintnt. Total 



7,000 
20,000 

7,000 
21,000 

22,000 
29,000 



36,000 
70,000 



29,000 i 35,000 
83,000 103,000 



10,000 
14,000 

80,000 
74,000 



im.ooo 

171,000 



17,000 
35,000 

102,000 
103,000 



154,000 
241,000 



The above totals for the week show that the movement from 
the ports other than Bombay is 1,000 bales less than the same 
week last year. For the whole of India, therefore, the total 
shipments since September 1, 1894, and for the corresponding 
periods of the two previous years, are as follows: 

BXPOBTS TO aUBOPa FBOH ALL INDIA. 



Shipments 


1894-95 


1893-94. 


1892 93. 


to alt Europe 
from— 


TMl 

neck. 


Since 
Sept. 1. 


TMt 
veek. 


Since 
Sept. 1. 


Thii 

ueek. 


Since 
Sept. 1, 


BomVay 

All otber ports 


6.000 
6,000 


535,000 
154,000 


3,000 
7,000 


790.000 
211,000 


2,000 
2,000 


820,000 
153,000 


Total 


12,000 


6S9,000 


10,000 


1,031,000 


4,000 


973,000 



J 



Alexandria Ueceiftb and Shipments,— Through arrange- 
ments we have made with Messrs, Davies, Benachi & C' of 
IJverpool and Alexandria, we now receive a we^k'^ cable of 
the movements of cotton at Alexandria, Egypt. The f' allowing 
are the receipts and shipments for the past weei and for the 
corresponding week of the nrevioup two years. 



Alezavdria, Egypt, 
July 10 



Eecelptx (cantars*) 

'Tbia week . 
Blnoe Sept. 1 . 



1394-95. 



1,000 
4,53ii,000 



1893-94. 



1,000 
4,973.000 



1892-93, 



5,135,000 



Exports (bales)— 
■To Liverpool .... 
To Continent 



TMi 
week. 



2,000 
5,000 



Since 
Sept. 1. 



270,000 
339,000 



rAii 

week 



12,000 



Sine I 
Sept. 1. 



310,000 
297,000 



TMi Since 
week \8ept. 1. 



1301,000 

6,000824000 



Total Europe 7,000 609,000 12,000 607,000 6,000 628,000 

'Aoaataru 98 poaods. 



JDLT 13. 1800.] 



THE CHRONICLR 



77 



Mahcrbstbb MarkR. — Oar report reoeired hj oable to- 
■Ight from Manchester states that the market is steady for 
yarns and quiet for shirting. Th^ demand for ladia i:t im 
proviog. We give the prices for to-day oelow and leave those 
for previoas weeks of this and laM year (or oomparisoa: 



rue 7 



18»». 



1994. 



tU Of 

Twit 



mrrtii^i. 






8<« Ih*. 
«Mr(te«f 



a. d 



. . 51»i«M>« i' 3>t»e 4 ! 3U -, „ ^ — 

149>>l«*6>« \ 3 *e 3<« 3>«'atl>s •«1>|,I4 lnti»8 



6^ •eiiia4 10i«te 9 



" 21 »\ •«> 4 

" »8>»i« we"* 4 

Jalr5 SH •«>< 4 

" ISM* •«•« 1 



3>s»6 
2>s>« 



311,, «!, •au,(|410>«*8 8% 

s^i ;6 van 4 9 ae K 

3SH a •>% 4 8>s»6 7lt 



•« «»si »«^l»1i •* \ 



4 9 aa 
4 8>s»a 7lt 
14 8 va 7 



8B4 Islako Cottoh Moyutcrr.— We hare reoeired this 
(niday) eveaing by telegraph from the various porta the 
(tfitails of ttie Sea Island cotton movement for the week. The 
TCoeipta for the week ending to-niubt (Jutr \i) and sinre 
Sept. 1, 18M, the stocks to-niKbt, and the sam« items for the 
eorraspoadinK periods of 1893-91, are as follows. 





1M4-9S. 


I8984M. 


JMk 


■ll»»f» I* JtUt 12. 


MSft. 






ttpt. 1. 


1895. 


1894 


flafsnaah 


.... 


«4,S91 
5,339 

8.ia» 


3 

'Yo 


$4,1 7» 
9.313 
8.S71 


407 

58 


9m 


nkartastira , ,, 


351) 


wl^VIQfl^ MV**** •■•••■•• •■• 


H08 


TotaL 


...1 7t,74» 


IS 


S9,BS» 


48% 


1.14% 



Tbo expona for ih* week endinx this evening reach a tou I 
of 19 bales, of which 16 halM wi>r« to Oreat Britain, — 
to Prance and — i» Reval, and the aiBouni forward»l lu 
Northern mills baa been '.*0 bales. Below are the export* 
(or the week and ainee Sept«fBber 1 in 1894-95 and 1898-M. 



Mxrortt 


WtuMmdtmtJfltlt. 


MMi«vCl. 


18M. jr«rtt-a Kuu 


9rml 

BrWm. 


rfnm 
St. 


IMal. 


BHTn. 48. 


fWai. I Wmk. J!^ 


Savaaaak... 
Oharl't'a.Ae 
nonda.*a. 
«•« York.. 

Boaloa 

■alttaer*.. 


""i$ 


'".'.Z 


""ii 


^« — 

091| S.15« 

s,4aa| — . 
t»v 


W.Sie .... 99.3t3 
a,9««l 8» 1.497 

7*81 .. 4,171 

7,»»7 

8,48 J 1 

J»l ' 


TMal 


!• 




is 


aS.Out' 5.6.SO 


lo as/i 20 M nt3 


Total 189S^ 


tj 




3.. 




:^ 



A omiMdwablii portioo of the :j«a Ulaod cottua aiuppad to 
Coreisn porta soea ria New York, and aoma amall aaanonis via 
Boaloa and Baldniorp, Inatead <if including thia eoMoo fo' 
tta waak in whieh it laavea the SoaUtam outporu, we follow 
tha aama plan aa in o<ir retntlar taMa of inclndinir it when 
•otaally axported from New York, Ac. The details of thr 
iWpmanta of Sea Island cotton for the week will be found 



■ the bead " Sbippinv New*." on a ■abeeqnaat pace. 
Qaotattooa July 19 at Savannah, for Floridaa. oominaL 
Chari s a lo u , Caroilnas. oominal. 



EXCBAXOB.— Th« following 
dtiriac tba waak : 

■OS M. to ouh. 800 Dm. for J4a. 
■IS p4. to •ssh. luo OeL tar Jao. 
'SS pX •• siek. 500 Anc tar J*a. 
-10 p<L looiea. I . too Au. tor 0«t 
■05 pd. to oxek. 1.30<i *-'■ '--" ■ ■■ 
■08 p4. la oxeb. lov 8< , 
■10 pd. to •■•«. 100 A': 
•14 p<L lo osok. 400 Or 
•llpd. lasnh.400A<i 
-10 pd. to oiek. S.S00 A 



ezchaacaa bare baaa made 

■08 D<t. to stnk. too Sopl. for «ov. 

■ H M.| in acoa. IOi> A *- •! 

'Jlp4 Iflofok. too \ 

ti M-loMSk.900 • 

"^ p<t tOOSOk. aOO.V .. .»..■..!. 

inL to axefe. lOO l>*a tor Joa. 
!>4. toozok. 1300 Aar. for Dro. 
. ■,>4.ta«xob. l.-MWAoz for !>u>. 
■t« p4. to oxek. iOO Aa(. for Oct. 



The AoRlCt'LTCBAL Ukpaktmcmt's Jm.T Rbpobt.— The 
followioK suceiLeoi ahowmit the conJiciia of ca(toa wm 
iamtcd by the Department of agriculture July 10 : 

Tko Jaly roloroa for eoltoa maka tka avorac* ena<lltloa 8I'I aaaln*! 
81 la JoBo. aa lapr-vaaia a t of l 3 polou. The ooadltlua Jair 1, la Ji, 
waa S9-8 aad aaaio 8aM 189J. M3-7 par eaau 

The avoracM of Iko M*l«« ara aa foUowa : VlnclaU. 100; KorU Car- 
•ilaa.74: 8aotkCa(etlaa.8«j Oaorcta. 88: FlnirMA. 98: Alabaa*. sS; 
ltlailaalppl.08: l—lalaaa.rTi TBsa«w78t Arkaaaaa.n: Tlwiaaisai. 93. 

Tba June and July ararsgas. cooipared with tba Jane and 
July flgur <n of prerioo* ya«ra. are aa (ollowa: 




I8M. 



IMS. 1 IMS. 



01 


a;l 


48 


8X 


7'«, 


8; 


m 


98 


•7 


•t 


84 


Ml 


94 


ip 


»v 


••2 


97- 


9'i 



J 


1 


i 


-» 


s 


-% 








SI 


■8 


01 


83 


91 


94 


(•« 


m 


K4 


9« 


«4 I 




no 


;i 




8u 


H 




H4 


Hi 


ti 


11 


81 


•i~ 



1881. 



1890. 



■» ' "» S •» 



80 
TO 



77 98 es 
80 97 95 
83 94 
91 93 

90 

85 



87 
91 



00 si; 

U.% «4 
8% 

H7 



93 
91 
93 

89 

H» 

8'i 
"9 



Tlu- tTtTii;'- v« for all the H: n^.j as 

given by Itu- I' , a!. 

Eo«<)PK*j» CoTToj* Comcvmox to Jolt 1.— Wo hav,; 
h^ooaiveil t<>-day by oabia Mr. Blliaon's cotton flgnres bruugbt 
' to July 1. The raTlsad totals (or laat year have also 



been reoeiyed and we give them for (xmiparison. Spinners 
cakings in aetueU bales and pounds have been as follows: 



Oetoter 1 to July I. 



ror 1894-95. 

Taklan br aplnnera. . .bal44 
K 'ara«e welncbt of balea.UM 
Taktnxitn poanila. 



For 1893-94. 
raklBga by apmnera. . .Iialea 
Avara^a weight "f bales.lbs. 
TakinnbiiKninda 



Brtat Britain. OontifunL 



2,843.000 

502 

1,336.384,000 



3,638,000 

478 

1,361.403.000 



3,584,000 

431 



TbOU. 



8,206,000 
490 



1,714,284,000 3.040.568,000 



3,47I.000| 6,109.000 

464 4702 

1.810.924.000 2,872.327,000 



Aooordinc to the above, the average weight of the deliveries 
>n ar«at Britain is 503 pounds per bale this aeasoo. ascauut 
478 pounds during the same time last season. The Goatineautl 
leliveries average 1$1 pounds against 161 pounda last year, 
tnd for the whole of Eurooe the deliveriea ararage 490 
pounds per bale against 470^3 pounds last season. Our 
lispatob alao gives the full movement for this year and last 
fear in bates of 400 pounds. 



0€t.\mJuit 1. 
lo^aa «/ 400 (•*. *a*A, 



1894-95. 



1893-94. 



mntmtn\ nma. 



4plBaan^atookOe«.t. 50, 
raktaas to Jolr 1 3,316 



348. 
4,385. 



^•9Hf. 



ipr9.39 

stork Jalr li 



S.S88, 4.833, 
S.198 S.83S 



*P«i 

Vasfe<|r OanwaapMoa.1 
> 



168 



811. 



TMoL 

898. 
7,601 



Sraol 



88 
3.15S. 

7,999. I 3,831. 
7,030 I 8.139, 



la< 

la Wo 

tol 

ta Jaaaary . 

ta Psarnary 

la Marsh ... 

laAprfl..... 

IB Mar 

lnJa*« 



83,0 98,0 
83,0 ' 98.0 

83/> 98.0 

83,0 98,0 

88,0 •8.0 

nfi 98,0 

n,0 98,0 

82,0 98,0 

ftS.O 94,A 



979 



180.0 
180,0 
180,0 
180,0 
180,0 
180,0 
180,0 
180,0 
18n.O 



101 



80.0 
80.0 
80,0 
80,0 
80,0 
80^ 
80,0 
80,0 
80.0 



OonM- 



358 
4.027. 



4.845. 

3.875. 

710 



890 
89,0 
89,0 
93.0 
93,0 
91.0 
93,0 
93.0 
93.0 



Mat 



378, 
7,180, 



7,50e. 
8,605. 

"iilll 



169.0 
169 
169,0 
171,0 
173,0 
173.0 
173.0 
173,0 
173,0 



Tba foregoing hIiows that the weekly consomption ia now 
IW,0(» bales of 4U0 pounds each, against 173,000 b5le« of like 
weigfata at the oorrespondiag time last year. The total 
aoinnoB' atoeks in Ord ,t Britain and oa the CjnUneat have 
deorwBad 48,000 bale* during the month an.l ara now 
IW.OOO bales grsater than at the a-ime date Uit year. 

Piwr BALt or Ngw OoTTOX.^Tbe flrst bale of cotton of 
the erop o( 18M.94 was received at Galveston, Texas, on 
Tburaday, July II, or artaan days later than io 1894. Last 
year the fine saw bale reached Uouiton on June M. In 1898 
tha awUaat arrival was on Juae 8J and in 189-3 on July 11, 
both alao at Houston. 

JuTK Bom. Baoouio, *o.— Businaas in jute bagging has 
bean with animation during the week juU closed, but at 
uoohaaced prioas, Tiie •{uiutiont tbi« evening ara 4LJC for 
1^ Ibi., 4^0. for 3 Iba. and ^ for •taodarl grades in a 
jooMac wav. Car-loui lots of atand ud brand* xn 'luoted at 
4^0. for l!l^ Iba.. 4S'c- (or 3 loa. and Sl^o. for i^i Ibi. f. o. b. 
at New York. Th« mtrk*t far juia tnicia hat oeen qiiet at 
l^r for mper <|u»lity, 1>0, for mixing and Vi<i. for bt^ging 
qoality. 

twippixo Ifgwa.— The exports of cotton from the United 
itatea tha past week, as per (a(«sf nail returns, have reached 
19,478 balaa. So far as the Southern ports are oonceme t , theaa 
ara tha aama exports reported by telegraph and published in 
iho OBVOmCLB last Fnday. With regard to New York we 
utolnda the manifesta of aU veaaela olearad up to Thuntday. 

IV>(«i5(ii««. 
■aw Tons -T» Uvarpeol, per rtsa»sr Oavle, 385 apland and 

lasftttaUad. 301 

To Aatwaty. par Waaianr WoatorBlaad. 3.135 3,135 

To Oaooa, p*r aloaaor Otrmpla. 1,860 1,960 

To Waplaa, poraUa'ner Oirmpla, 810. ... 810 

T» Tsaloa, por staomar Olrmola, 3u0 300 

■•w OBLBAaa— rn Uvorpooi, per aioaiaor* Laaiolt, 000.... 

Mexlaaa. 4.883 „ 8.48S 

To Havro, par ateaiBKr Laoaaatiiaa Prlooc, 997 997 

To nraooa, per alaamer HalvsUa, 8uH .._ 898 

To Aatworp. wir atoomrr l,aaea*trua Prlner, 233 ■438 

ToO'Dio. |M-r al-amrr BrItUb Prtoo*. 1.600 IjlOO 

8AVaaa*B-Tu finnna, par ataoiDor Maoltou, 8,550 8,550 

■oarout— To Hamburit, parslaaaar ,200 'iOO 

•osnoii— Ta Llvonwoi. p«r staaaars Ancloman, 357 .. Oepb- 

alaota.117 ...Sa«aaani, 644 ... 1,038 

PBtLAOBLmiA-TDUvarpool, paratoamor Obto, 176 176 

Total 19.476 

riia particulars of thane shipments, arranged in our tuial 
form, are as follows: 

BrtnMH Itaplu 

* Ham- AiU- an* 

Ilarr*. bnrg. v*rp. VtHie*. Otnoa. 



pooL 

Maw Tor* 301 

K Orlaaaa... 5,443 

RaTanaaa 

N.irlolk.... 

fraloa. 1,034 

176 



997 898 
.*.'.'.'.' ' 30O 



S.l/s 1,010 1.88) 

838 l.HOO 

3,5.'S0 



ToUU. 
5,21)6 
9.316 
8,550 

300 
1,038 

176 



Total. 



6.098 997 1,098 3.363 1,010 7,010 19,476 



78 



THE CHRONICLR 



[Vou LXL 



Beiow we add the clearancee thU week of vessels carrying 

ootton from Onited SUtes porta, bringing our data down to 

the Latest dates: 

■aw OBi.uia»-To LlTerpool-Jaly 9-Bt«amer Darien. 1,229. 

MOBILB ToUverpool Jo'T 8-8«<>»™«'' Hetper, 3.r''0. 

BATAmiAa-To Baraelon» July e-Steamer Cltta de Me"y»u*i;"Ji- - 

Bowon-To Uvsrpool-July 2 - Bteameri LanoMtrlMi, 17«; 8«?«JJ»?- 

1,071.... Jaly 5-8le»iiier Catalonia, 379 July »-Bl«amerg 

BMtonUn. 2»l; Cambroman. 4. t„i„ ia_ 

Bai.Tno>B-To Bremen-July 3-8leamer Weeer, 852.... July 10- 
Btramer Stuitttart. 11&. . , . „. _ _,v_..ir i oto 

P»lUD«LPHiA-To Liverpool- July .■»- Bleamer Soatbwark, l ,iav. 

PvoiT Bou.M)-To Japan— flt«aaer . 9C0. 



Oottoa freights the past week have beenasfollow^ 





aahir. 


Jfon. 


IWf. 


Wednet. 


TAur*. 


fW. 


Iiv«rpool.M«»iD.« 


>i« 


Me 


>1« 


>i« 


lie 


'16 


ManakMtar. ....<t 




.... 


.... 




.... 


.... 


Harrc, aaked ...e 


2»f 


261* 


25f 


851' 


25'* 


261* 


Do later c 


..•■ 


.... 


>*•• 


— 


... 


.... 


BrsmsB, aaked .d 


sst 


20t 


20t 


301 


201 


201 


Do Uter...<l 




... 


..— 








HanibnrR,aaked.d 


221 


22>al 


22>«l 


22>lt 


22>a1 


22 m 


Do ateam d 


.... 


..•• 


.... 


.... 


.... 




Ama'dam, a»ked c 


20 > 


201 


201 


201 


201 


201 


BSTal, T. Hauib d 


»« 


»>! 


'sa 


Oja 




*.<9 


Do T. Hull...d 


»6 - ». S 


«.4-'»t»K 


»M-»»,»s 


»»4-"lS8 


9^-19,. g 


»*.-l»l£8 


Baraelona.July.d 


»18 


»l. 


»i« 


»1« 


»18 


»1« 


Oenoa " 


»« 


»<« 


».. 


»64 


»64 


»«« 


Trirate. «<■ 


»«4 


"m 


"«. 


"m 


"m 


"64 


Antwerp, •team .<! 


>i6»'e. 


lu*"** 


»ie»» 4 


Jio*'.* 


ha'^i 


ii6»'>a4 


01ient,T.Antw*p.d 


'm 


1»* 


■><» 


■»«* 


■'64 


'm 



B R E A D S T 



Toenta net per 100 lbs. * And 6 per cent. 

LiTBBPOOL.— By cable from taverpool we have the f ollowii g 

iitatement of the week's nalea. stocks, &o.. at that port: 

/«/y 12 



■ales of tk^week bales. 

Of which exporters took... 

Of which speculators took ., 
Bales American... 



Actual export. 

Porwarded 

Total stock— Estimated . . 

Of which American— EstliL'd 
Total import of the week 

Of which American 

Amount afloat 

Of which American 



fune 21. 


June 28. 


July 6 

eo.oot 


J 


51,000 


45,000 




3,000 


1,000 


l.eno 




, 


1,000 


800 




61,000 


43,000 


45,UOO 




7,000 


7,000 


10,000 




52,000 


56,000 


65,000 




1.612,000 


1,581,000 


1,562,000 


1 


1,484,000 


1,455,000 


1,428,000 


1 


44,000 


30,000 


46,000 




28,000 


22,000 


30,000 




71,000 


78,0OC 


.^8,000 




62,000 


57,00f 


40.00* 1 



52.000 

4.30C 

7O0 

49,000 

3,000 

56,00< 

518,000 

,390,000 

15,000 

14,000 

58.000 

35.000 



The tone of the Liverpool market for spots and futures ea- h 
day of the week ending July 13 and the daily closing pricts 
of sDOt ootton. have been as follows* 



Bpoi. 


Baturda]/ 


Monday. 


TuMday. 


Wadfday. 


Ihtund'y. 


livtay. 


Market, I 

1:45 p, M.^ 

irM.Upl'da 

■alas 

■pecAexp 


Onll. 

Sllw 

6,000 
300 


Hardan'tu 

12,000 
1,5C0 


Qolai. 

3\ 

8,000 
500 


Easier. 

»\ 

10,000 
600 


Quiet. 

8,000 
600 


Unll. 

7,000 
300 


FHturtt. 

Market, } 

1>48 P. M-J 

Market, 

4 P.M. 


Steadi at 

Very 

•taaar 


Steady at 
i-M ad- 
Tan oe 

Qnlet ano 
•teadj. 


SteadT >t 
BteadT. 


Qalet ai 

2-«de- 

oltne. 

Qnteu 


Qalet at 
deoline. 

Steady. 


Steady at 
1-64 ad- 
Tanoa. 

Quiet, 



The opening, highest, lowest and closing prices of futurrs 
at Liverpool for each day are given below. Prices are on 
the basis of Uplands, Low Middling clause, unless otherwise 
stated: 



July 

Joly.Aoc... 

Aos.-Bept. . 

8«pt..Oot... 

Oot..NoT... . 

NoT.-De«... 

Dea-Jan.. 

JaiL-Feb.. . 

ieb.-Moh. 

Meta-'AprU. 

Aprll.May.. 

May-Jone.. 



Sat., Jaly « 



0pm Bi«kil,aw. Clot. 



tf. 
810 
840 
3 42 
81S 
844 
3U 
848 
8 47 
840 
SM 
862 



A A 
3 40 3 40 
3 10 I 3 40 
8 42 I 3 42 
8 43|84S 
3 44 314 



8 4b 
84« 

348 
84S 
8G0 
S6X 



846 
S4« 
3 41 
8 49 
850 
3 62 



A 

' 810 

8 40 

I 8 42 

I 343 

!344 

'■ 315 

I 8 48 

3 48 

840 

8 80 

8 62 



Hoa.i Jaly 8 



0|>m|H<«k Low.! Clot. 



d. 

3 48 
8 43 
}I4A 
8 48 
S4ti 
349 
8 60 
3 61 
8 68 
8(4 
366 



A 
844 
8 41 
8 46 
S47 
8 48 
8 49 
8 61 
852 
3 53 
8:4 
3 66 



d. 

3 43 
8 43 
3 46 
3 48 
848 
8«» 
360 
3 51 
8 62 
864 
3.-i5 



A 
3 44 
8 41 
8 46 
8 47 
31S 
8 49 
8 60 
8 62 
8 63 
3R4 
3 66 



Tues., July 9 



Ontn Bloh Law. Clot 



d. 
341 
3 44 
9 4-1 
347 
34; 
56> 
8 61 
3 5< 
3 63 
8 66 
856 



d. 
3 41 
844 
S4'1 
8 47 
3 49 
3 60 
3 61 
S5i 
8 64 
8 66 
3 66 



A 
341 
3 44 

8 44 
34; 
3 4'4 
3 44 

9 60 
8 62 
3 53 
3 64 
3 611 



d. 
8 41 

344 
346 
3 47 

8 48 
Slu 

9 50 
3 62 
9 53 
3 64 
3 56 



Hon. 


Tm». 


Wed. 


Thurt. 


Fri. 


7068 


65^ 


68 >9 


70 


7139^ 


71% 


66>« 


69 


70 1» 


71% 


71»8 


66^ 


69»8 


71 


72% 


72 1« 


67% 


7038 


71% 


72% 


7378 


69% 


72 ■« 


73 »8 


74a» 


77^8 


7238 


75 1« 


7639 





U F F S. 
Feiday, July 12, 1895. 

During the first half of the week the market for wheat 
flour was dull and prices dropped about tea cents per barrel, 
owing to a sharp decline in the grain. Subsequently, how- 
ever, an advance in wheat gave a steidier tone to the market^ 
but business continued quiet. Rve flour has said slowly, but 
orices have held fairly steady. Corn meal has beenin slow 
request and prices have made an irregular decline. To-day 
the market for wheat flour was fairly active at steady prices. 

Early in the week the market for wheat futures broke 
badly under free sellin? by tired " longs." prompted by dull 
and deprepsed foreign advices and favorable crop accounts 
from the Northwest. Subsequently a stronger turn to Euro- 
pean advices, particularly from the Continent, accompanied 
witn buying orders, fear of crop damage in the Northwest by 
froslB and a small movement of the new winter-wheat crop, 
stimulated a brisk demand from "shorts" to cover contracts, 
and pirt of the lo-s was recovered. In the local market the^ 
export demand for spot wheat has been quiet, but during the 
latter part of the week a large export business was reported as 
having been done at Duluth. To-day the market was fairly 
active and higher on continued buying by "shorts" to cover 
contracts, stimulated by stronger foreign advices, less favor- 
able crop accounts from the Northwest and small receipts. 
The spot market was quiet; the sales incFuded No. 2 red win- 
ter at %c. under September in store, quoted at l^gc.over Sep- 
tember f. o. b. afloat; No. 1 hard quoted at 5c, over September 
f. o. b. afloat. 

DAILT CLOSIHO PRICKS OP SO. 2 BBD W1NT8R WHUAT. 
Sal. 
July delivery o. 73% 

August delivery o. 74'4 

September delivery o. 7478 

October delivery c 

December delivery o. 77 

May delivery o 

The speculation in the market for Indian corn futures his 
been fairly active, but during the first half of the week prices 
declined sharply under general selling, prompted by favor- 
able crop prospects and weak foreign advices, but subse- 
quently the improvement in wheat and fear that the market 
had been oversold stimulated a demand from "shorts" to 
cover contracts, and prices advanced. In the spot market 
shippers have been limited buyers and prices have followed 
futures. The sales yesterday included No. 2 mixei at IJ^c, 
over Sept. f. o. b. afloat. To-day the market continued to ad- 
vance in sympathy with the rise in wheat and on buying by 
"shorts" to cover contracts. The spot market was firmer 
but quiet. The sales included No. 2 mixed at 49^0,(9 50c. ii> 
elevator and IJic. over September f. o. b. afloat. 

DAILT aU>SII(0 PBIOBS OP HO. 2 MIXBD OOKN. 

Bat. Hon. Tuet. Wed. Thurt. "^i. 

JnlydeUvery c 49>e 46i« 46i8 47'* 4S:<8 50 

August delivery o. 49»8 47 46»9 4758 486» . . 

Bepteiuber dell very.... 0. 50 47»« 47i8 48 49% 50'a 

Oals for future delivery have been moderately active and 
during the first few days of the week general selling under 
the favorable crop prospects caused a decline, but later there 
was an improvement in sympathy with the rise in wheat and 
corn. The spot market has been moderately active. Yester- 
day the sales included No. 2 mixed at 273^(8 27 J^c. in elevator 
and No. 2 white at 33)^0. in elevator. To-day the market 
was without decided change. The spot market was firm, ow- 
ing to light offerings. The sales included No. 2 mixed at 
27J^c. in elevator and No. 2 white at 33J^c. in elevator, 

DAILY OLOStlte PBIOBS OP NO. 2 MIXKD OATS. 

Sat. Mon. Tites. 

JnlydeUvery o. 27% 26H 2658 

September delivery — o. 28 2o% 26'8 

The following are closing quotations: 

PLODB 

Pine ^^bbl. *2 50a 2 60 

Baperflne 2 703 3 00 

Extra,No.2 280*305 

Extra.No. 1 3 00« 3 40 

Clears 3 00*3 60 

Btralghts.. 334»3-5 

Patent, spring 3 65» 4 20 

I Wheat door In sacks sells at prices below those for barrels.] 

OBAIN 

WTheat— 
Spring, per bnsh.. 
Red winter No. 2.. 

Red winter 

White . 



Wed. 


Thurt. 


fvi. 


27 


2714 


27% 


27 


2714 


27% 



Patent, winter $3 739$4 OOtv 

City mills extras 4 103 4 15 

Rye flour, superfine.. 3 90» 4 40 

Buckwheat flour... 9 .... 

Corn meal — 

Western. &c 2 703 2 75 

Brandywme.. 280 



o. 

70 » 
71«4l» 
66 3 
72 3 
Oats— Mlied, per bu. ^7 3 

White 33 3 

No. 2 mixed 27%a 

No. 2 white 33>43 



0. 

78 

73% 

74 

76 

29 

;19 

28% 

34 <4 





Wed., Jaly !• 


Than., Jaly 11 


Frt.,JaIy 12. 




Omii 


Bith 


1>>I«. 


Clot. 


Opim 


Blth 


Loio. 


Clot. 


OpCTl 


Hfoh 
A 


to.„. 
A 


Clot, 
d. 




A 


A 


A 


d. 


A 


A 


A 


A 


A 


Jaly. 


812 


8 43 


8 42 


8 49 


841 


842 


3 41 


8 42 


8 42 


3 42 


3 42 


842 


Jaly-Ani.. 


8 42 


8 48 


3 42 


843 


311 


3 42 


341 


312 


34! 


34. 


3 12 


3 42 


Aof.-8ept. 


341 


3 45 


8 44 


34i 


3 43 


8 43 


3 13 


3 13 


3 44 


;t41 


3 41 


341 


B«pt.-Oot.. 


3 48 


8 47 


311 


8 47 


341 


8 46 


8 14 


3 46 


3 45 


3 46 


3 45 


345 


0«.-NOT_ 


8 47 


8 41 


3 47 


S4H 


8 45 


S4t 


8 45 


sie 


8 46 


34s 


3 411 


9 48 


MOT.-Deo... 


8 4>i 


3 49 


3 48 


8 49 


8 44 


3 4! 


3 4« 


3 47 


, 817 


3 47 


3 4' 


.147 


Baa-Jan... 


849 


880 


8 49 


8 6, 


3 17 


3 4!) 


317 


818 


3 4H 


3 4S 


S4S 


8 4- 


Jan.-reb-.. 


860 


8 61 


8 60 


861 


3 48 


319 


8^^ 


3 49 


360 


3 50 


3 49 


8 4:J 


Vab..Mota. 


8 52 


8 6< 


8 62 


8 62 


850 


8 50 


860 


8(0 


I86t 


3 61 


861 


9 51 


Moh.-AprU 


858 


864 


8 63 


8 61 


851 


8 62 


8 61 


8 52 


,8 62 


862 


8 62 


3. "^2 


Aprtl-May.. 


3 64 


86» 


364 


8 66 


8 52 


S.^8 


8 62 


3 63 


351 


3 51 


3 51 


3 53 


May-Jone. . 



























Corn, per bush — c. 0. 

West'Q mixed 49%» 52i« 

No. 2 mixed 49%a 51% 

Western yellow... 50 3 52% 

Western White.... 50 3 52% 

Rye- 
Western, per bush 3 .... 

State and Jersey. . ....It .... 

Bar'ey— V0.2 West'n 3 .... 

t4tat) 2-rowed 3 .._ 

staie 6-rowed 3 ..— 

Agricultural Departmbnt's Report on Cereal Crops 
July 1.— The Agricultural Department issued 00 the 10th 
inst. its rep )rt on the cereal crops for the month of June, as 
follows : 

The July returns to the StatUtlcian or thn Department of Agricul- 
ture 'T the oorrrspondeiits Thereof make ihe followiue averages of 
cnn.lltlou: Cora Mn-3. winter wheat fi.i--*. spring wheat 102-:i, oats 
83-2, winter rye 82-2, spiing rye 77, all rye xu-7. harley 91-9. rice 84-4. 
pot»tOfS9l^. tobacco M.i-9; ncreage of potato ;8 compared with 1894 
107-9. Boi of tubaoro 848 per cent. 

The report ou acreage at oorn, which Is prelliuinarv. show.'* 107'8. as 
compared with the area plmteil In 1894. which wa< a little over 
76.000.' 00 acre.", being an Increase of 6,00.i,00O acres, and aggregat- 
ing In rouud numbers H '.OOO.DUO acres 

The averaues for the prmclpal corn States are: Ohio 101. Michigan 
106, Itiillana 101, Illinois 105. WlKonnslii 105. Minnesoti 112, Iowa 
106. Missouri 107, Kansas 117, NebrasKa 107, Texas 11.', Tenne.'ssee 



JCLT 13. 1896.] 



THE CHRONICLE. 



79 



107. Keatnokr 102. The »rrnt« eornliUon of corn 1» 99-3. atnUnst 95 
tn Jniy Uat year »nil tci 2 ia lH\n. 

Tbe kTer»<M of coD'nttiii I'l tb^ priirlpal SUtet am M rollovm : 
OhloOl, Mlrblna VO. Indiana 9S. IillDnts9/. Inwa 10.t, MUwart ii>U, 
Kaa«a« 104, Nrbraaka 99, Texaa 1 18, KeotnpkT )^. TrnnaMM MS. 

The eoDdltlon of winter wbeat la 65 '8, aKalust 71-1 In June and 83 2 
laat July. 

The i>T-enU««i of the piloclpal Stale* are: Sew York 7B. Pen i>?l- 
Tania 814. Keoiookr 85. ouii Kit. MIohlMO 0», Iaitlaoa3A II>looU 5o, 
Mlwouil > M. Caous I'J. C«>lforal.i a-l. Oreffon «S ana Waalilnctoa 93 

Tbe eonditl»n of •prlnx wheal U 102-3. atralnst v7-!i la June and 
68-4 In Juljr, 1894. 

8Uce aTeriire* are; Mloneaota H2. Wl«)oailn 98, low* 10 '. K-tn^a^ 
46, NebraHkaS ', 8outh Dtkoia 112. North Dakota lO'J. Wa«biDi:lou 
94, Orei;i>'i -■"> The areraxe eondlilnn nf all wb«4t f ir theo<>uuiry l^ 
76 2. The condluoa of otia li H3'i. acalon ^i'6 Juui I au>17. -7 
JulT 1,1 ■'94 

•Ae eondlilon of winter rye la 82-2. of aprloc rye 77-0 and all ry^ 
80^7. The arrrace e tndlllon of barler >• 91-9. acainat 00-3 In June, an 
laereaM of 1-6 poluU. 

Exports of BHXADsrurrs, Provhiins. Cotton and 
Pktrolkcm.— Tbe ezporu of thea > articles dunni; th« month 
of June, and the twelve montha, for the p«M three year* have 
been as follows: 




' Inaladlaa —«tl» >^ao«» ta all 
Nora.— All tiM a»OTa t«ar** 
retoma laaoad br tha BitNaa of 
•f the ia«al axporu of hisadMils. 
paraaatof eattoa. 



tf« bae a il oa ika maotlUj ■faUmlnarjr 
ittalMtoa. aad aoTar aboatM yar eaa t 
~ oil aad pMTitlaaa,as4a«arljr lOii 



I aaa »•«• 9««. 



THE DRY GOODS TRADE. 

New York. Fxidat. P. M., July 13, 18ft3, 

There baa been a better attendanoe of buyers tbU week in 
both tba oottoe and woolen good* ttoyiliimiti than for aonic 
lioM paat aod btuincaa has b««i mot* gaoeraL lo uotton 
Kooda, however, it baa bardlr oooM op lo ezpectaiiooa, 
altbouKb in aooM meaeure thia la due to tM finnOMi of sellers 
in rejeetinx bid* for qaaniitias where tha prioa offersd does 
no* ooma up to their limiu, a feature ootioeahla cbitflf in 
brown naplea. Some laiKv buyers are reaewinc b4dawbi:h 
were iDeffrctnalaoBM tloae ago, evidently under the impression 
that sellers may be ensiar to deal with after paasioK through 
tha reetnt qniet pariod. They have not been succassfol to anv 
apprteinMa extant, bat have served rather to daiaonatrato the 
com inued strcncth of the staple goods market. A good demanil 
ought to materialize between now and the end of the ronnlh 
with the market already in a liKhl If stocked condition. Hilea of 
low and medium grade woolena snl woniliNlB tor aprinf; have 
been liberal, but naw lines areatill openintcat irre/ular pri ■>-«. 
There ia, however, a better feeling pmvailinK. and thx ten- 
dency is towards ImprovrmenL Tbe II B. Clailio Co>npanv'a 
statement for tha flrat half of tbe y«iar, iieaed thia week.' i a 
more eocoonging than Kenerally expected. It shows profits 
for the six months of tiM,697 net, which is a gain of nearlr 
tn.OOO ovrr the flrat six montba ^f 1994, while fall prospecta 
are describe d aa d< cidedly favorable. 

Ooaano Cotton Goods.— Tbe exports of cotton goo<!a 
frooi this port for the week endlns July 8 were 3,'.>0'J 
paekages. vainad at )ltf ,5M thair dartlnation baing to the 
poteta sDeciAMl In th- 'able below: 







!•••. 




ItM 






Mac* Am. I. 








Wmk. 


rssk. 


BtHttJtm, 1 


OraatBttsste.. „ 


loa 


2.938 


24 


3.W7 


Other Baropoaa.„-. „ 


181 


1,624 


67 


l.»79 


CWaa 


3,098 


SS.J80 


3,300 


46.372 


Ia4la 


MS 


tjno 




4.S79 


Arsbta. _ 


100 


14,317 


i^M 


13,I8:< 




4 


4.0M 


SIS 


•1,473 


Wast tadlss „ 


IftS 


•.Ml 


s<« 


10.114 


taezieo ..••••..•••.•«. 


IS 


iSSt 


It 


987 


Oeatral Aaarlea, ^ 


5 


•.7M 


IS 


S.7l»i 


•oath Aaertaa..^. 


•41 


90.692 


761 


22,8 'M 


Other ooaairtesw.. 


SO 


8,«67 


7 


1.779 


Total „ 


3,209 


103,943 
11,700 


6.391 


113.01!) 


CUa*. via Vaaeoaver*,... 


10,7»t8 


Taial .„ 


•.209 


1I4.64S 


6,391 


133,807 


■ mm New gaalaad mill 


pntotad 


iraot 







Th« value of the New York exo-wta for the year has 
b68B U.MO.tn in 1800 againM te.082.7in in INB4. 

Tbe onlf change reported iq bro vn so tda during th<> wpek 
isaaadv4nce in apromioent mikeof Hiuthern 4-yaT(l aheet- 
inga to 4 '{'•,. txir vard. Hoavv ahoetinfca and dc ills ar<> still 
htavily sold ahead and continue Arm in face of rao<l<>ratp 



actual business. Brown ducks and osaabuffa quiet but tirm. 
Low-grade bleached cottorisof the 64 square order are movinf; 
against buyers: medium and fine grades are firm, with mod- 
erate sales. A quiet business is reported in wide sheetings, 
with an advance of 3}^ per cent in Boston ticket. Cotton flan- 
nels and blankets are very firm, with supplies well controlled. 
U.^nimn hold late improvement in prices, with some demand 
from cutters, while the market for ticks, plaids and other 
coarse colon d cottons is firm, with a quiet businesa 
doing. Kid-finished cambrics and other linings are 
without change in priof s and in moderate current request. 
Dark fancy prints firm, with moderate demand. Hamilton 
fancies advanced 2)^ per cent. Staple prints also firm and 
Hamilton staples advanced i^o. Ind'go bluns, shirtings, 
mournings and grays, etc., quiet at previous prices. There 
has been no change in dress or staple ginghams or other 
woven pattern fabrics. Buyers have been oidding iJic. for 
exiras all week, but sellers are not in the market at that pricey 
and no sales reported. Odd goods in fair request and firm. 

189S. 1894. 1893. 

aisaksf rr*ll OMAs- July 6. July 7. J^uiy 8, 

At ProvManee. 64 aqnares 179,000 3<>4.000 1S9.00O 

At Pall Rlrer. 64 aqoares 36,000 580,000) m^nnn 

AtPaURlTer.oddataea „.... 96/>00 30<*,000i iua.uuv 



I) 311.000 1.089.OOO 244,000 

WOOLXN OOODS. — A number of new lines of light woolens 
and worsteds have been put on the market during the past 
week wiih much tbe same irregularity as previously noted, 
advances and declines of i'-^c. per yard being variously 
quoted, with tbe majority uocnanged from last season. Bay- 
ers have operated with some freedom in lo!v and medium 
grade staples, such aa Clays, cheviots and cassimeres, and the 
tendency of the market is towardi improvement, an occa- 
■"ionsl advan<*e of 3l{ percent tieing reported on op>>ning' 
prices rt-ct^ntte made. Fine grade goo Is will be g:enerally oik 
the market tnth the coming week and are quiet meanwhile. 
Heavy wvigbts in fair aupplementtrydemanl without niaterial 
Chang* ia pnc s. Orercouings sold more freely in light 
iMlgMaat steady prioes. Cioakioga ra-ordarad in modarata 
qORBtUica. Wo<)lanaod worsted dreas goods firm in both 
staplea and fancies, with msre doing in the way of re-orders. 
Flannels and blankets quiet but firm and the former ociutsion- 
ally S>^c. per yard higher. Carpou in fair retiuast, but some- 
what unaettlad by the strike at Philadelphia among tbe ear- 
pet waavers. 

PosioN Drt Oooda —Tbe attendanoe of bnvers has beaa 
fair and more buslneaa reported generally in fill lines of for- 
eign tcerohandisa. Dreas goods firm in woolen an 1 worsteds 
and silk fabrics, and strong for all mohtir varieties, which 
are difficult to secure exoapl from stocks here. Kibbon* Arm. 
laosa dull, linana quiet bat steady, and hosiery and under- 
wear in moderate request at firm prices. 

laaportadaaaand MTarehoaae Writhdrawaiaof Brr Ooo4a 
The importations and warehooaa withdrawals of dry gooda 
at this port for the week aading July U, and ainoe 
January 1, 1905, and for tha oorrespooding periods of last 
year are as foUowa: 



£~ .a g: : : : 
: lUiiii 




P j^.5 


tn 


ig^ 



•'tOM'S 

•'i'vVm 

S?S!?2 

C -.» a * ia 

• « -.a 71 w 
o6»aax 



!S» 



31 SS 



WIS9M 



I** 
I <a* 



-1 


«•- 


^ 


e^ 


m 


«■•__ 


a 


• 






"9 




o 


-•0 












©3 










» 


• W 




«» 


• w 












-J -J 










M 


«l*. 




>l 


B 








•Pea vxo 
•4 -I B ^ » 



■•uta^ 

« — caa 



■ •o I _ 

-• xo-ieasi 
•."• J'.-.-.-'.- 



3SS5i 



■ I — 






^^ 


►* 




•9 


o^ 




3» 


:s 


MW — MO 


« 


ev'fc^o 


W 


-4» 


a,«;aaD^ 


M 




O 


ea* 


to 




M — 


»«x- 


ft 


as 


aao-i;aa 




•»•» 


V*.'.-bi-s 


00 


5e 


«-;a»9a9 


M 


s* 


eas-4u 


?l 


2a 


">» 


p 




e^-aMS 










o^ — ;a^ 


s 


edb 


SStiSe 



-IV 



0> U 3 3 -Ji 

avAwa 

•^ -40t9 tt 
'l — ■■5 — M 

O -I M .5 ^ 
a. I ••0*1 



Blili 



^'••aS^t 



I 



r" " 



ia*<Bea 

aaMews 
a « caM^ 



9*ua* 
»«Ui»a3 

•o»»td»»a 

^coa>*s 



ia'a«'o'9 £ 
wBipw I '- 



Maauo 



5jL'-t 



a to Id ^- 3* 



SO)*.: 



80 



THE CHRONICLE. 



fVou LXT. 



•tati awb City DtfAiiTMtKT. 



Page. Location. 
11(11. .Lacoiiia, N. H.. 
1071.. Iji Crosse, Wis. 
1071 

37. 
UGl. 
11«1. 
1161. 
IIIB 
102.) 

38 

iica 

UVM 



Rate. 
I 

5 



TERMS OF SUBSCRIPTION. 

The Investors' Sii-ruKMENT will be furnibhed 
without trim charge to evtry «iiu>ual eubecriber of the 

COMMEKCIAL AND FINANCIAL CllRONlCLK. 

The State and City Srri'LEMENT will aUo be fur- 
nished without extra charge to every subscriber of ibe 
Ohkonicle. 

The Street Kailway Supplement will likewi-e 
b6 furnished without extra charge to tverv subscriber 
of the Chronicle. .._ _ ^ ^, , ,„,, 

The Quotation Supplement, issued monthly, will ,S'HZ'^}^li;}%Z[^r.-.\ 1 uZ V. n.^: 
•Iso be furuisbed without extra charge to tvery sub- iii(r.No.wo„rt^.oui«......^ o i«»o-i!Wo 

Bcribcr of the Chronicle. " " 

TEKMS for the Chronicle with the four Supple- 
menu above named are Tea Dollars within the United 
States and Twelve Dollars ia Europe, which iu both 
cases includes postage. 



a CposRO, Wl« 5 

Ijiko County, 8. D... 6 

I^» Anjteles, Cttl 4*4 

Los Ain,'rlcK, Cal 4 "a 

Lot* Aitjfeles, Cal 4^ 

Maii(hc»U-i-. N. U... ■» 

Marlliiiroiiuli, Mass.. 1 

McKcenpoit, I'a 4 

Melrose, Mass 4 

Moiiclpii, Conn 4 

llKi. Milwaukee, WU S 

3«..Mol><Tlv, Mo 5 

llO-J.MontKoiiKTy Co., O.. 6 

1071. MoiitiM'licr, Ohio ' 

IKW.Natiek. Mass 4 

liea.Satii'k. Mass 4 

1071 ..Newton, MatB 4 

1071. Newton, Mass 4 

1163..Nortiri)akota .... 4 



HatuHty. 

isne-ioio 

June 1, 1915 

Juiicl, 1915 

1015 

1K9«-I935 

18iUi-l!t35 

1896- 1935 

1915 

Juncl. 1915 
lK9(i-1914 

Jnuc 1, 1925 

1«96-']'915 
July 1,1905 



July 1,1915 
July 1, 1920 
Apr. 1, 1915 
Apr. 1, 1915 
1915 

1915 



1901-1925 

1897-1900 

July 1, 1923 

Apr. 1, 1923 

July'i,"l90J 



Terms o( Advertlslnir— { Per Inch space.) 

One Urns »3 50 I Tnree Months (13 times). .$25 00 

Om Month (4 tlme«) . . 1 1 00 81 r Months (26 times) . . 43 00 

TwoMonllM (8 times).. 18 00] Twelve Monlhs (52 tuucs).. 68 00 

*The »boTe terms for one month and upward are for standluK cards.) 



The purpose ot this State and Citj Department 

ii to furnish our Bubecribers with a weekly addition to and 
eontinustion of the Statu akd City ScppuontNT. In other 
words, with the new facts we shall give, the amplifications 
and ooriections we shall publish, and the municipal laws we 
■hall analyse in the " State and City Department," we expect 
to bring down weekly the information contained in the 
Btatk and Citt Supplkmbnt to as near the current date as 
possible. Hence every Subscriber will at all times posseas a 
oomplete and fresh cyclopajdia of information respecting 
Municipal Debts. 

MUNICIPAL BOND SALES IN JUNE. 

The total amonnt of State and municipal bonds 
which we have reported as issued and sold during the 
month of June is $15,907,441. This is an advance of 
nearly four million dollars on the amount marketed in 
May, and is considerably heavier than the sales have 
been for any previous month of 1895. The securities 
have continued to bring gopd prices and the bids have 
been numerous for all the most desirable issues. 

In the following table we give the prices which were 
paid for June loans to the amount of $14,576,441, is- 
sued by 67 municipalities. The aggregate of sales for 
which no price was reported is $1,331,000 and the to_ 
tal sales for the month $15,907,441. In the case of 
each loan reference is made to the page of the Chbon - 
lOLE where a fall account ot the sale is given. 



1163 I'awlln*;, X. Y 4 

1163 .('loasaiit Twp„0.... 

lll« Portland, Oieg 5 

89.. Portland, Oreg 5 

102(i..l>ortsinonth. towa ... 6 
1027..RockinKh'n»C0„N.Y. 4 

lllB.Kuilaml, Vt 

82..Sa;.'lnaw, Mluh 4 1890-1900 

82..SaKinaw, Mich 5 189(i-1900 

1X16.. SauKUS, Mass 4 1015 

1072.. Seattle Soh. Dist, No. 

31, Wash 5 JnneSO, 1915 

1164..SedaliaSch. l)i»t.,Mo. .. _ 

llie.Somrrville, Mfts.s 1896-1915 

1116.. Som-rville, Mass 18081925 

11(S4.. South Norwalk. Ct... 4 July 1, 192o 

1073..Wiln)lU)rton, Del 4 1922-1924 

1027. .Wlnelie.ster, -Mass.... 4 1917 1022 

1164..Wol)urn,Ma»8 aver. 6% yra. 

40..Youkers, N. Y 1005 

40..Youker8, N. Y 1898 

40..Yonkcr8.N. Y 1897-1898 



JCKE Bono Saxes, 

ragt.\ Lotation. Rale. MaturUy. 

1024..AlleKhcny, Pa 4 1900-1925 

37..An»onla, Ct 4 May 1, 1015 

1114.. Atlantic CTIy. N.J... 5 1925 

1114..Bay City, Mich 4 1925 & 1930 

1114..Bavonne, N. J 5 1015 

1159. Belleville, N.J 4 

1114. BiK)ne, Iowa 9 

11.59.. Boston. Mas 4 1015-'24-'35 

1024..Bn>oklyn, N. Y 4 1925102a 

115»..BrunB»iek, Md 

1114..BuHalo. N.V aia 1800-1915 

llir>..CanandaUua, N. Y... 4 Apr. I. 1915 

1070. Canton, Ohio 5 180(1-1901 

1071.. Caroline Co,, Md 6 Apr. 1, 1900 

1071.. Chlcajtn, 111 4 July 1. 1915 

1071. -ColleKe Point. N. Y.. 4 1015 

11.50. .Coloraclo Sprs., Col.. 5 

1159. C;olorado Sprs., Col. 5 1010 

1115..1>anver», Muse 4 1806-1915 

1024.. Delaware 3>s July 1, 1015 

1024.. Delaware Co., O « 1896-1905 

102.t.. Delaware Co,, O B 189(1-1911 

1071 ..Duhinine, Iowa 4 Jan. 1,1916 

37..F»lrt)eld, Mc 4 1006-1020 

1024.. Pall Klver, Mass 4 1925 

1024.. Fall Ulver, Mass 

1101. .Krei.no, Cal 5 1896-1035 

1115. .Fulton, Mo 5 July 1,1015 

1024.(lrnnt County, Ind,.. 5 aver. 5 vr«. 

1025,.llarrl»nn Co., () 5 1896lrt03 

1115..tlolyoke, Mase 4 1015 

1071.. Kenton. Ohio 

1025..Klu»ts lo„N,Y 4 1910 1919 

81.. Kings Co., N.Y 4 1905-1944 



Anunml. 

$600,000 

150,000 

775,000 

50,000 

38,000 

65,000 

' 14,5(m 

2,000,000 

535,(X)0 

2,,5(H) 

.2.50,000 

130,000 

10,100 

5,(M)0 

2,718.00(1 

11,000 

(>5,00() 

1 5,000 

18,.500 

35,000 

1,035 

5.60O 

200.000 

30,000 

75,(KH) 

50,000 

4 0,01 K) 

12,000 

25,000 

20,000 

1.50,0(H) 

10,(K)0 

250,000 

1,500,000 



J. ward, 

106-712 

103033 

101-68 

105-414 

108-.54 

100-(>3 

101-031 

112-038 

111-79 

1(M>- 

102 125 

103-076 

103-644 

102-6 

l(ll-(U5 

lUl-.-)1 

101-si.-, 

1<>3-533'3 

102-53 

101-lH 

107-571 

102-^11 

10131 

10-.t-52 

110-007 

110-007 

UM)-Mli,i 

101 ■><«.-, 

1 ().'■.- Hi 

101-K.-, 

107-30.". 

103-31 

108-91 

111-39 



Anumnt. 

.$30,000 

25,000 

,50,000 

30,000 

306.000 

70,O0O 

396,000 

1(M),0(H) 

50,009 

268,000 

50,000 

70,000 

707,500 

75,000 

20,00O 

31 ,000 

50,000 

25.000 

132.000 

40.tMKl 

38.600 

50.000 

100.000 

8,.507 

195,000 

35,000 

13,000 

200.000 

200,000 

2.500 

12..5O0 

30.000 

15,000 

12,.500 

36,000 

400,000 
30,000 

324,000 

100,000 
30,000 

125,000 
30,030 
65.000 
5,800 
45,000 
60.000 



Award, 
102-42 
100- 
111154 
100-lias 
106-58 
106-86 
101-87 
106-265 
105-340 
101-10 
106-695 
104-78 
112-37 
104- 
106-671 
110-519 
105-037 
105-786 
•106-511 
n06-577 
104- 
107-15 
108-03 
102 
105-44 
102-071 
103161 
114- 
115-65 
100- 
103-009 
107-17 
10105 
103-38 
103-75 

102-32 

104-08313 

103-422 

105-044 

106-18 

108- 

105-89 

102-379 

101-18 

101-06 

101-20 



Total (67 municipalities) $14,576,441 

AKgregate of sales for which no price has 
been rei)orted (from 20 municipalities)... 1,331,000 

Total sales for June $15,907,441 



* Flat price. 

t The pages 37 to 82 are In Vol. 61, 



the others being in Vol, 60. 



Forged Bonds,— Reports from various points in Ohio state 
that about $120,000 of town and county bonds which have 
been put upon the market by Z, T, Lewis of Dayton have 
been discovered to be forgeries, 

Kansas City.— The demand for a change of venue in the 
caae in which application was made in the name of W. W. 
Payne for an injunction to prevent the city frooi issuing the 
three million dollar -water-works bonds came up for hearing 
before Judge Slover in the State Court at Kansas City on the 
9th inst. Attorneys W. C. Scarritt and R. H. Field, nomi- 
nally representing Mr. Payne, though really acting; in the 
interests of tbe water-works company, had asked for a change 
of venue outside of the county. 

The attorneys for the city were prepared to surprise their 
opponents and read an application for a transfer of the case 
to the iJnited States Circuit Court. The application set forth 
that the case was one involving the provision in the United 
States Constitution prohibiting the States from impairing the 
obligations of contracts; that the issue ot the bonds involves 
matters of which the United States courts are now ia charge, 
and that the question was ooe_whioh should be heard in the 
United States courts. Jud<e Slower later ordered the case 
transferred to the United States Court. 

The sale of the bonds, made last winter to a Boston and 
Chicago syndicate, failed to go through on account of the un- 
certainty regarding the validity of the issue. 

Pittsburg, Pa, — A decision ia the Pittsbarij bond suit was 
handed down in the United States Circuit Court thij week. 
It was in the city's favor, sustaining in full the demurrer of 
the city oflScers and James Carothers, purchaser of the bonds, 
against the bill of complaint filed by the attorneys for the 
Dupont Powder Company. The bond issue in question 
amounts to $5,625,000 and was sold by the city on the 33d of 
last May. 

rtond Proposals and Negotiations.— We have r«- 
i«ived through the week the following notices of bonds 
rHcently negotiated and bonds offered and to be offered for 

Hi'. 

Auibny, Minn. — L. E, Cross, Village Recorder, reports to 
tbe Chro.sicle that bids will be received until July 15, 1895, 
for tbe puicha«e of $t,000 of watpr-ivorks l>onds. The loan 
will be dited Auifusc 1, 1.S95, will b -ar interei'. af. the rate of 
6 per cent, payable semi-annually in February iand August, at 
I Amboy. and will mature in five years. The village has no 



Jtlt 18, 1895.1 



THE CHRONICLE. 



81 



other JDilehtadDeas. and its niwmaed Tsloation (which is about 
one-third of actual ralae) for 18M of real estate was 440,000 - 
ptnooal I ropertT, $3-30,000 ; toUl, $660,000 ; total tix rate 
(per $1,000) $:U-80. The popalaiion, aocordinK to local figures, 
IS 600. 

ArvMtoAk Omatf, Me.— FropoHaU will be reoeived uatil 
July 28, 18M. by L O. Ludwiic, County Treasurer, for tlie 
purchase of $38,000 of 4V^ per cent bonds. The secnriti<-s are 
daud July 1. 19fi.>, interedt is payable semi aooually ia Janu- 
ary and July, at Bwtoo, and the principal will mature in 
twenty years. 

AskUnd raaaty. Wlit— Railro«d-aid bonds nf Ashland 
County to the amount of $135,000 have b<>eu voted. 

A«r*ra. III.— It is r<>ported that $36,000 of 5 por cent 10- 
year water works bondEi were sold on July 10 to W. J. Htyes 
& Son*. 

Battle Treek, Xleh.— Proposals will be received until Au- 
gust 1-3, IW5, bv J. H. Mykios. Miyor, for the purcns!>e of 
$80,000 of 5 p»-r cen' water extenition ttnnds. Interest will )>a 
payable Bemi-annu«lly in New York and ihe pri>.cipai wilt 
mature at the rate of $10,000 yearly on Sep-ember I. 1915 
1916 and 1917. The city's debt consists of $100,000 of 414 P«r 
cent water-works bonds, $30,000 of sewer t)onds and $9,U00 of 
railroad aid bonds. 1'sassessrd valuation forlS9l. as equal- 
ized by the County Beard of Supervisor*, was $4,939.3:8: 
actual valuation $12,000,000. The popalaUoo according to 
local tigures is 16.000. 

B«llTar, ■•.—Water-works and electric-light bonds to the 
amount of $8,600 have been vott-d. 



Oaaty, W. Ta.— The citizens of Boone County will 
vote this month on issuing {"Oo.OOD of railrosMl-ald binds. 

■•■4 Hill. Ohlw.— PmoossU will he received until July 2.'^ 
189(5. by W. U. Bcickel. Jr.. Vdlage Cl«rk. for the purcn»*e 
of $3 400 SO of 6 p»-r cetit For»st Avenue improvement bon<l<. 
Interest will be psyable annually and the principal will ma- 
ture pan yearly in from one to ten years. 

Bradford, Mass.- Four pf r cent school bonds to tit* amount 
of $15.000 kave been sold to E. H. Oay * Co. at 10388. Tbe 
bonds sverage Syi years. Three other bids wer« rvodved ss 
follows: E. H. Knilina ft Sons. 103 17: J. W. Loogstreet & 
Co., I03-I6: City Five CeaU Savings Bank. HaverbUI, 103-01. 

Brattlebor*, Tt.— PropoaaU will be received until July ."i 
fur the purchase of $M.0O9 of town-hall bonds running frofn 
1 10 35 years, and $2,300 of bonds, $1,000 maturing in 5 year*. 
$1,000 in 6 years and $300 in 7 years. The secoritiea bear in- 
terest at the rate of 4 pir oeat. 

BrMklia, N. T.— Fifteen bids, aggregmling over $7,000,000, 
were received on July 8 for $800,000 of Orave«end loosl im- 
provemcat boada. maturing at the rate of $100,000 yearly »a 
July 10. 19>a, iaS8 and IVH. and $370o.hi ,.r v»w York .V: 
Brooklyn Bridge brmds, $100,00) m< ily 10, 19-3.'i 

$100,000 July 10, 193M. and $70,000 JuU . The securi'- 

ties wrre all awarded to Measfs. Veriiul>'«» A Co. at 10:t --I. 
Interest at the rate of Vi per cent is payable lemi-anouallv 
oo Jaouary i and July 1. tioth principal and interest lu tM 
payable ia gold coin. Tbe bonds are exempt from all taxa- 
tion except for State purposes. 

Cambrldgr. III.— bonds to tb« amount of fSS,000 have 
been voted for water-works. 

^ Cayifa Coanty. N. T.-PropoaaU will be received until 
•'Oly*8. 1<»5. by iloraoe T. Cook, Treaaorrr. for tbe purchase 
of $9,i9i 7."> of Sner cent eomty bonda. The securities will 
be dated July 38, 1896, interest will be payable aniiusllv on 
February 1. $1,191 75 of the amount to mature FebruaVr 1, 
1896, and $3,000 yearly thereafter. 

Ciaeiaaatl. Ohia.-Propoaals will be received until AuKust 
12, 1895, by Dsoiel W. Brown. SecreUry of the B -nl «r 
Tmslees of tbe Sinking Fund, for the purobaM of $.'.l)T.<.iioi) 
of 3 65 per cent refunding bonds. Tbe securities will l>e.Uie<l 
AuKU4t 1. 1890. intercat will ba payable aemi-anouallr <>n 
February 1 and August 1, and tba principal will mature Aug- 
Bst 1, liM5, with an optiaa of call after Augun 1. 1625. ixxh 
prtoelpal and inter«t to ba payable in gold coin in .Ne« Vurk. 

Tbe bonda are to ba iasoad to refund outstanding I >aos for 



6.000, 9837.000. «BM.000 aad $3,000,000, and no awar.1 will 
bo made oalcas tba anngaia of tba •noocasfnl bids makes 
one or more of tbe abovc-meatioaad soiaai 

Clavelaad. Ohio.— ProootaU will be received until August 
15. 1M05. Inr H. L. Rossi- Xuditor, for the purchase of 

$800,000 of 4 per cent <. relaod water-wnrks coupon 

bonds. Tbe securities wiil t-e dated Ootober 1, J895. interest 
will hm paysMe semi-annually, and the principal will mature 
October 1, 1905, foth principal and interest to be payable at 
tba American Exchange National Bank, New York. The 
City's total debt on July I, 1»»5, was $10,573,600, of which 
$l.«fi'.-71 was water dabi: stnking funds $3,470,809; netdebtj, 

$8,iC2.;g7. 

Collet e Palat, N. T.— Tba people of this villaca will vote 
Jaly 39 on issuing $20,000 of water-works bonds. 

Daqnesae. Pa.— An aleetioo to vote on leaning $75,000 of 
water-works hoods rcsnlcad in favor of tbe proposition by 
Maost a anaaiaono vota. Only tan votes were cast against 
IkapnpasMaa. 

■m* hi. Laala, III.— Public improvement bonds of East 
M. Louis to tbe amount of $1,300,000 have bean authoriz<;d 



4 



by the Council, the bonds to be issued in five annual instal- 
ments. 

Flkhora, WK— Proposals will be received until August 15 
1895, by Jay F. Lyon, village clerk, for the purchase of $18,000 
of 5 per cent water-works bonds. The securities will be dated 
July 15, 1895. interest will be p»yable on Jan. 15, 1896, and 
annually thereafter, and the principal will mature at the rate 
of $2,000 yearly from January 15, 1899. to January 15, 1906. 
Both principal and interest will be payable at tbe Union 
National Bank of Chicago. 

Essex Conaty. N. J —Proposals will be received until July 
30th by the Finance Committee of the Board of Chosen Free- 
holder^ of Essex County, N, J., for $3,500,000 of county park 
bond'. The securities are to bear interest at the rate of itUt 
per cent. They are to be dated Aui?u3t 1, 1895, and will ma- 
ture at the rate of $500,000 every fifth year from August t, 
1915. to August 1, 1935. Interest and principal will be pay- 
able in gold. Coupon bonds will be issued with the option to 
the holders to have them registered or exchanged for regi»- 
terrd bonds. An annual tax levy sufficient to meet the prin- 
cipal and interest when due is required by law. 

The present county debt is $766,839; assessed valuation, 
$178,165,000: population, 300,000. 

Anadvertuement elaewhert in this Department gives further 
particulars regarding the seeurities and the required nature 
of the bids, 

BUwaads. Cal.- The people of this municipality wiU soon 
vote on issuing fiO.OOO of water-works bonds. 

Fairfield, Ne.— It is reported that this mnnicipalitv has 
sold $30,000 of 4 per cent refunding bonds to J.iiu-'s W Long- 
streei ft Co. at 108-52. The loan will mature at the rate of 
$3,000 yeariy after 10 years. 

eraad Rapids, Mich.— On July 8, 1895. the city of Orand 
Braids sold $1,50,000 of 4 per cent coupon bonds to W. L 
Qnloiard of New York for a premium of $5,08.5. Twenty, 
r " ■< in all were received. The securities are dated July 
terest i< payable semi-annually at the Fourth Na- 
^.i.- <.snk. New York City, and the principal will mature 
July I, 19*5. The bonds are issued to repay tbe overdrawn 
funds and to pay the floating indebtedness. 

HellartawB. Pa.— Bonds of this municipality will probably 
be iasued for water- works. 

..i»f*l>»adaa<a. Kaat.— An election held June 26 on issuing 
•83.000 of water-works bonds resulted in tbe defeat of tbe 
proposition. 

■*•>•«*. N. T.— Proposals will be received until July 30, 
1898. bv the Board of Hewer Commissioners for the purchase 
of $|.V>.00>l of 4 per cent coop >o sewer bonds. The securities 
will be daud July 1. 1895. interest will be pavabl^ semi-anui»- 
ally on Janusrv 1 ami July 1. atid the principal will mature. 
at the rate of $7,500 yearly from July 1. 1906, to July 1, 1926, 
lK>th principal and interest to be payable In gold coin in New 
^ ork. Proposals must sute tbe interest basis offered, and the 
•ucoeMful bi.l.ler will be expected to Uke the bonds in 
monthly instalments, or as the money is needed, with ao- 
cru'd intrrrst from the latest interest periotl. 

Jacksna. «lrh.-City Treasurer Theo. W. Chspin reports 
to the ('riHoxicLE that an election held July 8 on issuing 
$!0.000 of hmtU rt'Aulte-l in the defeat of the prapaeition by a 
majority of 24'» votes. 

Jaaalra, N. T.— Bonds to the amount of $300,000 are un- 
«Ier ooosiderstion for water-works, electric light and street 
poipoaca. 

. '■V"'' la*.— The citizens of Jasper have voted to issue 
$15,000 of water-works bonds. 

King* Caaatr. N. !.— On June 29, ISK, the County of 
Kmgs sold $tji00,000 of 4 per cent ptinlic park fund bjntU to 
the Uoite<rStatas Mortgage and Trust Company at 111-39. 
Interest is payable semi-annually on May 1 and November 1, 
an<l the loan matures at the rate of $:ir,.500 yearlv from May 
1. 1W5. to Hay 1, 1944. Other bids were as follows: New 
York Life Insurance Comuany (total issue). 11005 ; Farson. 
UwohftCo., UOfll; J. W, Seliitman ft Co,. 107-698; R. L. 
Dav ft Co., 107-179. an<l D. A. Moran ft Co. , VXi. 

8. A. Keen of Chicago, IlL, bid for $150,000 worth on a 
8,^ per cent basis. 

■'•«■ Caaaty. N. T.— Proposals will be receive<l until July 
88, 1895, by Henry H. Adams. C- uoty Treasurer, for the pur- 
chase of a $l,.500,000 4 per cent reicislenxl Kin^s County pub- 
lic park fund loan. The seourititsare to be dated May 1, 1898, 
interest will be payable semi-annually on May 1 and Novem- 
ber 1, and the phocipnl will mature at the rate of $87,600 
yearir from May 1, 1905, to May 1. 1944. 

Lewis, Iowa —Additional water bonds of this municipality 
have been voted down. 

Liaeola Conaty, W. Ta.— The proposition to issue $50,000 
of railroad ai<l Iwnils will be voted on this month. 

Lofaa Coaaty, W. Ta.— A vote will be Uken this month 
on issuing $50,000 of railroad-aid bonds. 

Lowell. Mass.— Sewer bonds to the amount of $76,000 and 
parlr g bonds to the amount of $35,000 iiave been authorized 
of tbe council. 



S2 



THE CHRONICLE. 



[Vol. LXI. 



LjBi, MSM.— Water-works bonds to the amount of $165,- 
<KX) baTe been authorised by the Board of Aldermen, the 
securities to bear interest at the rate of 4 per cent and to be- 
come due in 1935. 

Harlboronrh. MtM.— Four per cent wat r bonis to the 
amount of $33 000 have been sold to Messrs. Brews'^r. Ojbb 
•A Eitabrook at 107 14. Six bids in all were received for the 
loan. 

■•rttTille Tal.— Proposals will be received until Aueust 
5. 1895. by K.E. Smith, City Oerk. for the purchase of $40,- 
000 of 5 per cent ilrainaRe bonds. The securities will be dated 
Noverolier 4. 18»5, interest will be payable annually, and the 
principal will maiure at the rate of $4,000 yearly from ^o 
-rember, 189«, to Navember, 1905, both principal and mterest 
to be payable in Kold coin. 

■eDoaald. Pa.-On July 1, 1895, this borough soM |2">.000 
of 5 per cent street improvement bonds dated June 1, 1893, A 
list of bids received is given below : 

Premium. 

U w "nrrln A Co., Cbtoaco. *^'1'«- 

Trow<rtilrt^ * Co.. ChlOMO J^o 

liblnon *Co., Plttsourg *«" 

W U. 'ipll, PltUburg 250 

MUford. Mich.— Oeorjje P. M)Coy, villasre clerk, reports 
to the CHROjncLE that water-works bin is of Miltord to the 
amount of $18,000, recsently voted, will bear interest at the 
rate of 5 per cent, payable semi-annuallv at Milford, and will 
mature in from five to tvrentv years from date of issue. The 
villaee has at present no debt of any kind. Its assessed val- 
uation (tivo-thirds of actual value) is $390,000; total tax ra-e 
(per $1,000) for 189j J5 20. The population according to locai 
figures is about 1.800. 

Monroe County, Wis.— On July 1, 1895. the county of 
Monroe sold $50,000 of 5 per cent court house bonds to Mf ssrs. 
Farsonv Leach & Co. for $51,793. The sfcurities are to be 
dated Julv 15. 1895, and $i,000 of the principal will mature 
yearly frlm March 1, 1898, to March 1, 1905. Interest will be 
payable in Sparta. Wis. . ^ . ,, , , „ 

Twelve other bids were received for the loan as follows: 

Amount Bid. 

N. W. Harrln * Co.... f JMS? 

The Lamprccbt Bros. Co ii'-yln 

Z. T. L»«lii 5 -.O" 

8. A.Kean ?I'SS? 

B. H. Rolllno A Sons 5,'?,? 

Bloditet. Merrltt* Co VAU 

Q«o. A. Fernald & Co 5M?t 

HaoOD, I.ewis &. Co ?f' n! 

E H G«v»fet'o ..--..- .....,..--...-. ol. yi 

Fsriuerk' SavlnesitLoan Co., Minneapolis, Mtun 51.300 

J(«. W. I>oiiii8treet A Co V,'.Ji 

Deilz, DeolHon * Prior Sl,<bl 

* Mo check enclosed. 

Montclair, N. J.— The town clerk of Montclair will re- 
ceive proposals until July 33 for $60,000 of ten-year sewer 
bonds, to be dated August 1, 1895, and to bear interest at a 
rate not to exceed 5 per cent per annum. 

The official advertisement of this bond offering will be 
found elsewhere in this Department. 

New York CItv.— Three per cent gold bonds and stock of 
"the city of New York to the amount of $3,356,371 have been 
awarded as follows : 

FJlYABLX IK 1914. 

Amount 
awaidid. Bid. 

H. Y. Bccurit J- A Trust Co *3i»l,500 loioo 

l>o do 150.000 100 7i 

Do do lOO.OOO lOO-ei 

A. Oalot 3,S71 100 25 

Blobard M.Coroell 27,.50O 100-7' 

Henry a. Tajlor 391,500 100-77 

PATABLB IN 1920. 

(jermaola Bank ot the City of New York $50,000 10100 

Do do ."-O.OOO 10i)-.-<0 

Do do 50,000 100-80 

Bleliard M. Cornell 772,000 10077 

FAT ABLE IN 1925. 

▲. iMllnACo $20,000 lOl-lO 

P. White • 9,500 lOO-Ol 

GermaiiLi B^tnkof theClty of New York 50,000 100-70 

As'itH-l P. Piioh, attorney In fact fur George 

Bneaa. diuugarl, tiermauy 8,000 101-00 

A. Oali.L lO.OoO 100-25 

Richard M. C<irneil 122,500 100-77 

Do do 60,t00 100-7J 

Total $2,256,371 

The securities offered for sale amounted to |3,746,310 34, 
and are described below : 



LOANS— When Due. 

AiiiiiTKiNAi. Watbb Bonus— 
Sl,HAN. $<t*l,',00 ..Nov. 1,1914 

Ahmdkt IIonos— 
3l, MAS, ♦270„V>'>...Nov. 1, 19U 

OoMMoi.io iTKD Stock— 
3*, HAN. 4 >. 2.(100... Nov. 1, 1920 
3», MAN. «.<5>i.000...Nov. 1, 1914 

tniCK Bii-u-i— 
3s, MAN, $16 ,000 ..Nov. 1, 1925 

The loans are exempt from city and connty tax, but not 
from State taxation, 

OnMdii Connty, N. T. — County bonds to the amount of 
$5,000 riintiing nine months have been sold to the Holland 
Patent Bank at 100^. 



LOANS- When Due. 

FlKK liviiRANTBowns — 
3». MAN, *\0.000 Nov. 1, 1925 

PiiLicii Uei-aktmknt Bonus— 
3s, MAV. *<10.ol9-«.%.Nov. 1, 1925 

aAMT. ISff. 8l!H. HOU.-iK BO.NDS— 

38, M.».il, *.<.H71 Nov. 1, 1914 

School IIooiik Bonus— 
3s,MA.N,*d^9,889-59.Nov. 1, 19U 



Pasadena City School District, Cal.— Proposals will be re- 
ceived until July 18, 189.">, by the B)ard of Supervisors of Los 
Angeles County for the purchase of $40,000 of 8 per cent 
Pasadena Citv school district bonds. Interest will oe payable 
annually at the County Treasurer's office and the principal 
will mature at the rate of $5,000 yearly from September 1, 
1898, to September 1, 1905. These bonds weie previously 
offered for sale on Jane 26, at which time all bids were re- 
jected. 

Philadelphia, Pa. -Bids for only $335,000 of the 11,300,000 
8 per cent serial loan of the city ot Philad-lphia offered for 
sale July 8 were received, and the award was reported as 
follows : 

F. W. Scott, $30,000 series A to H inclusive and $3,000 series 
I at 3 per cent and par ; L. A. Scott, $10,000 series A, 3 per 
cent and par ; Dick Bros. & Co., $80,000 s^-ries T. 3 oer cent 
plus 103 and accrued interest ; Geo. H. Walbert, $3,500 series 
F, 3 per cent, par and interest, and $3,590 par and interest, 

aeries F to P. . , ^ r , , 

Interest is payable semi-annually on January 1 and July 1, 
and the principal m Uures at the rate of $60,000 yearly from 
December 31, 1905, to December 31, 1934. The securities are 
free from all taxes. . 

It has been decided to re advertise the remainder of the 
issue, and bids will be received until June 33. 

Phllmont, N. Y.— The citizens of this village voted a short 
time since in favor of constructing water work-i at a cost of 
$40,000. Charles N. Hardin, Treasurer, reports to the Chko.v- 
ICLE that bonds for this purpose will not be issupd for some 
time, as only oreliminary steps are being taken to see it the 
village can afford the same. 

Princeton. Minn — Oa July 5, 1895, the village of Prince- 
ton sold S19,000 of 5 per cent water-works, sewer an i electric- 
light bond^, to Fairbanks, Man & Ci. at par, the vill4a;e tak- 
ing work in pavment for same. Only two bids were received. 
Thesecuricies are dsred July 5, 1895, interest is pivable an- 
nually at Sc. Paul, Minn., and the principal will miture in 
twenty years 

Reading. Mass. — Four oer cent school bonds to the amount 
of $40,000 have been sold to Brewster, Cobb & Esiaorook at 
103'6l. The average time of the securities is 13 ytars. 

Richmond Conntr, N. Y.— On July 8, 1895, th^ county of 
Richmonii soli Sl0i),000 of 4 percent gold binds to G M. 
Hahn at 109 97. The securities are to be dated Aujjust 1, 1895, 
interest will be payable semi-annually, and the priucipal will 
mature August 1, 1930. Thirteen bids in all were received for 
the loan. 

Rockport, Mass. — At an election held July 1. the people 
voted to issue $25 000 of water-works extension bonds. 

Snginaw, .Mich.— On June 28, 1895, the city of Sasjinaw 
sold 815.i'00of 4 per cent, refunding sewer bond-i. $3,000 due 
July 1. 1899, and $7,000 July 1, 1900, for $15,157 5 i, and $13,- 
500 f'f 5 per cent sewer bonds, maturing at the rate of $3,500 
yearly from August 1, 1896, to August 1, 1900. for Hi. 922 50. 
Both loans were awarded to the Lamprecht Broj. Co. The 
bids received for th>^ securities were as follows : 

For 4 Per Cent Bonds. Amount Bid. 

r.aiiiprepht Bro.f. Co.. Cleveland *l.), l.'>7 50 

E. H. K01I108& Sou, Huston Ii.l53 00 

Ja». W. LouKiitrBwt A Co., Boston 15,130 50 

8 A. K->un. UliicaKH Io.l20 00 

W. J. H.iye» A Sou. Cleveland 1.0.097 OJ 

Karso". l,eaoh A Co.. CUli-aKO 15,075 00 

C. n. White A Co.. New York I ->,055 00 

R L. Day A Co.. Boston 15,U49 35 

Bloditet, Merrltt A Co., Bo.->ton l.'i,040 50 

Z. r Lewis, Dayton. Uhlo 15.040 25 

Dellz. I'puilsou A Prvor. OlcveUnd l.i.nSOOO 

MdSon. Lewis A Co., Cblcago 15,027 00 

For h Per Cent Bonds, Amount Bid. 

W. 3. Hnyes A80U. cloveland *.2.vi23O0 

Liuip ei'bt BrO!<. Co. Clev land 1^,922 50 

E 11. Rolcius ASi-:0, Biiston 1 -,920 00 

Z r. Lc^ii, Davton, Ohio 12,875 60 

Jas W. l,<iiiK.-<tre. t A Co., Boston 1.86625 

Mason, Lewis A i"o .Chicnto 12.819 00 

FhI8< n. Le«ou .s I'o . I'lik-ago - . ... 12,812 50 

Ri L. Kay A Co , Bustou i.:,T97 37 

«j. A. Keuii, Cil.-att" 12,79000 

Dletz D-iniilson A Pryor, Cleveland i-.i,780 00 

<!. H. While A Co.. New V.irS 12.760 00 

Bioafiet, Mel rill A tJo., Boston 12,753 75 

San Antonio, I'ex. — Au election held July 3 on issuing 
$300,000 of 6 per c nt fundiOif bonds resulted iu lavor of the 
proposition. The loin will rua 30 years. 

South Bend, lud.— It is reported that 4 per cent bonds of 
this ciiy to ibe amount of $3i),000 have been sold to W, J. 
Hayes & Sons. 

^t. Johns, Jttich.- Dewitt H. Hunt, village clerk, reports 
to the Chroniclb that at au election held July 8 ihe people 
of St. Jobns voiea iu favor of issuing $35,0J0 ot bonds to pur- 
chase the plant of the S; Joh.s Electric Li< it C) upany. 
The date of sile and details of tbe loan will t>e determined by 
the Ciuocil at an early date. 

St. Olalr, Pa. — The people of St. Clair have voted to issue 
$9,000 of bonds for eleciric-light purposes. 

St. Harj's, Ohio — Water-works bonds to the amount of 
$50,000 will be issued. 

Stockton, N. J. —This town will borrow $5,000 to piy off a 
note due July 13, 1893. 



Jm.T 13, 1896 1 



THE C'HRONUXE 



83 / 



CUea, N. t.— J. A. Ontwell.City Clerk, will offer at public 
oo Jul; 10, 1809, pavinK bond* to the amonnt of $47,- 
-JMSS. The Mcuntica will be daud March 1, 1805; int^rect 
at the rale of 4 per cent will be pajable annuiilly and the 
principal will mature part yearly ia from one to six years. 

Wayae Coaaty. OhI*.— Oa July 1, 1895. the Coun'y of 
Wayne told $8,300 of 6 per cent ditch bonds t» Jac 'b Frick. 
ol Wooater, for a premium of $543. The securities are dated 
July 1, IWS, and interest i« payable semi-aaoually ia Janu- 
ary aad July. 

Otbrr bids were as follows: 

Prtmium. 

«. A. K*aa.(Ma«co. lU »*3» 62 

Z. T. LewU B4Mla I. If aM ^..^~ 42% 00 

FartoB. L*aeb A Co , ''bio.t>o.. Ill S'S 00 

Tbe Katlooal Bv>k. HUtm, Ohio 159 45 

Tbe Lamprcebi Brat. Co.. CleTaUod.OUa 487 M> 

Spltser * Co.. Tol«.1u. Oblo 517 00 

Robert Child*. Srneaae N. Y ........«.»• ............. 90000 

W. J. Ba>** A doiu, CleTelmDd.Ohio 545 00 

WellMrllle. Oki*.— A rote taken rn ianiioK tS5.000 of 
water-works bonds resulted io tbe defeat of the proposition. 

Weiit Hobtkea. N. J.— Pn>poMU will be receired until 
July '7. 18M. br L3»i A. F*rr, Town Clerk, for the purohaie 
of tSJ.OOOof 3 wr cntschcKil boad*. Iater'>at will he pty- 
•ble semi annuallr, thr<>«.Hf ieeath« of the a-nouat matttrinK 
in three ye«is and one-SfUeoth aanoslly thereafter. 

Wo«4karr Co.. [nwa -It in rep>rced that $3J».000or4^ 
per cent lO-yesr bsadi of :bi« c^iancy hare be«o told to the 
Iowa Loaa ft Tnut Company at par. 



STATE AND CITY DEBT CHANGES. 
We aobjoiB fvports as to municipal dabw laeaivMl siDoe| 
the last pabUealion of our Btati AJn> Cmr SoPTLSinirT. 
Some u( thtse reports are wholly new and others cover items I 
of information additional to thoae given in the BcrriMMtirt 
and of interest to inveatora. 



Aahland, Ky.— The figures of indebtedness, &c., given in 
tbe following statement have been corrected to June, 1803. 
Ashland is in Boyd County, 



When Diu. 



LOANS- 

FUNDIIIO BOXD9— 

5«. M.&S. 922.500. 1899-100 1-9 

(97.500 due earb year on Sept. li 

Ss. MAS, 97.50O Sept. 1, 191 4 

Subjeet to call Bfter Sept. 1, 1009 



Total debt June. 1895. . . $42,000 

Tax valuation 1894 3,017,000 

R<^1 valuation 5,500,000 

PiipuUtlon in 1880 was 3,280 

Population In 1890 was 4,195 

Population In 1893 (est.) 7,500 

TAX FREE.— Tbe bonds Issued by this city are free from taxation. 

INTEREST i>> payable at tbe Ashland National Bank, Ashland, Ky. 

Blae Islaad, III.— The financial condition of this village on 

July 1, 1895, was as follows. 

Blue Island is in Cook County. 

Tntiil del>t Jnlr 1 . 1 805. (r25.000 I Real valuation 93,000,000 

Water delit (included) 17.000 Population In 1890 was 2,521 

Tax valuation 1894 521,501 | Population 1895 (estimated). 6,000 

Boy4 Coiaty, Ky.— A statement of the financial condition 

of this county on July 1, 1895, ia as follows. 

County scat is CattlettshurK. 

Ronde<ldebtJuin.-95. 915.000 I PopnIaUon In 1890 was.. ...14,033 

Tax valuation 1>4»1.... 4.633,8'4T Population In 1880 was 12,165 

Keal valuation 20,000,000 | Population in 1 895 (est.) ... 15,000 

Bl Baaa School DUtrlet, 0. T.— A sUtement of the finan- 
cial ooodition of this di-.trict on July 1, 1895, is as follows. 

Tbe district includes the city of El Reno and about 8,500 

seres of land outside of the city. 

Total debt July 1, 1805. .928.707 I Real valuaUon 93,000,000 

Tax valuation 1891 817,150 | Population 1895 about 6,500 

Harlaa, Ala —Following is a statement of the debt, valiia- 
lion, Ac, of Marion in April. 1895: 
This city is in Pfrry County. 

Tax valuation 1804 9418,685 

Boalvsltiatlnn (eit.l 650,000 

Popiibi - M) wan 1,082 

Papul > -O wan 2,074 

Pnpnl I - ' -atlmated). 3,200 

INTERES*^ >• |M>*1>1« by N. W. HarrU * Co., Mew York. Both 
prlnoipat and Interest are payable la (old. 



WiTKR W.>»K« noNn*- 

6a. MAN ~ H>tS 

WAc' KM 

Totafde! > iMO 



NEW LOANS. 



S2,500,000 
ESSEX COUNTY, N. J., 

PARK BONDS. 

T>« BwjS of O l i iM r w ib nU i n ot lAs Oi — lf at 
■Nns. R. J., pneoaa* la IMM* boMSi t« ibe 
aaoaal of •MOO.oogi psimiilloias 
<"»■•«« SCI. of ta* Ads et uwa. vtssa sal has 
asvRwsd by s vets arUM faflual ssM l u s a ty. Ibr 
>hs sarvosa ot tstablkMaa a s i iSsm •( Tmlta 
Partvaya far asM SDwOy. 

Tbaasb>aasMllks«aS*«Aaiast I. 
a* tatUrmm 

)|4a«.a«* Aasasi t. 1919. 

■3—. — Aesaat I. IM*. 

M — ■>— A as* at I. IV.14. 

—OiOao Aasaai I. !•*•. 

•«••.«•• A ■■■at 1. laU. 

rwr aiii b*a( OaSsMssbMUoB of IMca < 
va Saw lalanM at Ibn* sad Msty4H«c 
4ra«aa (* SS-1S0> yav ssaS pw asaaus. saysM* • 



NEW LOANS. 




STta at pal aa< laisnat sayablala soM aola. 
Tlw»<ii>«saiirtH>ar»qsiw9fa»^ss Iv lh« FSfk 

iapavlo4 Ol adl 




Tha CtasMy at Mms baa s soptriallaa af MSlSSS. 
vataaUoa at ntV 
latiaMsa, or 
Wlfs*a— pwinlof Ua 

Tha aat aaSw vIMk taa b«i4a afa laa 
Iba aaBaallsvy of a aoaatf ta* aaaMaaa to aaa< in 
A aoaaSy lax tot aay 




OSMailuaa of tba Baasd of 

to ba bale by aid Ciiiilttia, at Ika Tr—- 

nwMialkaOawt Baaaa,al Nswaft. if . J., 

Jaly aa MMbalSe^*Mbr.M.. «bl«k 

«uin^s«eaaaaMa«sp. K. Pmpoaala 




a t"t 

of 



tb« abotoof aaldboBSatobaliaadaloaea. 
ti^ Kj^gglobaaa wlw ssa, _ _ ^ 

■slta^ttSnBUlsttlSSl'^'Tw&MS 

saarttsMsfaM saarasd «■ mM 

as aslKsvy. 

la aalMissnie rsaslvaa at aay 

SjMfSssrvfslhefttbll 
tfMMaMSBaMlSa 




I> B. JOIW901f. 



PROPOSALS FOR 

860.00O 

MONTCLAIR, N. J., 

SEWER BONDS. 

•SotSadbytba lovaahip 
X. J., numnmh. tarn. 
t U. MSa aocl to aa snBaaaaa miovt 
Iba cvaaoU «f tba T<,«a at MsalsMr. Jaaa aS. 
IS>las» M TtaatoTtbac»,i n iraHs«ol a arMaa of 
MaaasaaSi f — I la «al« lisaslili, watal no- 
alB — tevMsa tw ikapuahaHadbavbolaa* 
y pait of s« t— a of b..n.l» to tba Masai ef tU%r 
naiMt DiiBsii. TbMo boaaa Is ba tar tl.as« 
■k.i*ba««laayaamonuli«a Aagaal 11, IMS^ 
a la baar MavHl at ix'i to a iii aiS H par saaasi. 
I bM as Isiw Ibaa fv am ba aealivsa 

WUI IM r««tva« by tbe tynra Clara 
■alU » I- M. JalyaM.UM. raitber 
•ay ba ubtalaa* bf aMiflaa to Ika 



NEW LOANS. 



tMiiUmmtafUUta. By 
arSsr a* I ba Tsva OooacU. 

JOHX WUaOM.CbairsaD 



sso.ooo 

City of Montgomery, Ala., 

20-Year S P. C. Paving Bonds. 

■aaiaS Mda will ba ra'rai.aS antll Jaiy SM)i. 1-«3. 
IS M.t«lba>arrba>a»( Tblni TS'iaaaoS l>.rf'ar. 
aty of Mi«t«<aa«rr. Aliinsii taVatf n bui.da, 
SawMMaatwn ona UaaaraS Ib i H ara aailk "Oa 
t«sa<la<b <.f tba gno 4p .1 aaS tbe iai«ra.t aayabia 
aaaaallf. Tbaloiaraac ai'duaa-laaviatb iha arm 
alpaliaaabraaad In iba '^lapuo.. ptfKti* «i,baally 
at ia« AaMilaaa Kxaia «a tfaiiooal B«ak, N«« 
ron:ala.iattbaoaiaa»i 'balNiyTra (ur^r. Moni- 
tammn. *^ Tba My raaarvaa tba rubt in rrl^ct 
aay aad all kMs. B. H. •OKMKHVILt.K. 

Traaaara'. 



MORTGAGE LOANS 
TEXAS. 

laieraal 1 Ifrt C«at Mat. 

MO COmtigUOItS cbars sd b o riuwar or laador 
WMbMoa bava iMraaaood. 

FRiKCIK K1I1TU Jc CO., 

HAS AMTO.MO, TBXAH. 



MUNICIPAL BONDS 

FOR INVESTMENT. 



AKTIOOLABa VFOM A PPLIOAVIO*. 



SIMBI 19 or TBI NKW TORK AlfD KWTOB 

rrocE ■xoHANUM. 

BBALBRfl l» OOMMBBCIAi. PAPHL 



Blake Brothers & Co., 

Ml VTATK ■TKKBT. BUMTOR. 
9 RAMIAO •*.. IBW VUKK. 



$38,000 
State of North Dakota 

20-Y6ar 4 per cent Refunding 
Gold Bonds, 

l>at«<l July I, IMS. Principal and InUroat payabl^ 
at t a« Cbamioal Kallon.l Baak, New Tock. ^ 

Street, Wykes 6c Co., ^ 

14 STAI.I. WTRBBT. . WBW TOBK 
niKU'lPAl, AM> RAILROAD 

BONDS 

Aa4 all I.«eal Mecarllira Baasbl aad SeM* 

NEW YORK, BROOktrN AND JCRl 
SEr CIIY BO NDS A SPECIALTY. 

W. E. R. SMirH, 

19 BROAU MTUBKT, • NKW TOBKa 



84 



THE CHRONICLE. 



[Vol. LXL 



Gibson Citj, III.— A Btatementof ibU city's financial con- 
dition on July 1, 1895, is given below. 
Gibson City is in Ford County. 

Water debt July 1, 180.1 |ia2.000 I Real valuation 81,0<M).(K)0 

inty baa nu oilier debt. Populatlou In 1800 was l.sOS 

1.16,000 I I'opulatlon 1805 (eotlniated) 



Tax valuation 1801. 



.'.;fi)0 



When Due. 



KaoxTllle, Tenn.— The following statement regarding the 
finances of the city of Kanxville has been corrected by means 
of the annual report of S. B. Kennedy, City Comptroller. 
Koozville is the couunty seat of Knox County. 

Bond, debt Jan. 23, '95. $1,020,000 

Flotttlii/jdebt 9.175 

Total (lcil)t l.OS.l.TTS 

C'liKh on liniid il.275 

Net di-hl Jim. 23, '05. .. l,02(i.."iOO 

Tux valunttou, re«l 8,58.').235 

Tax valuation, pc^r8onaI 1,14H.M5 
Total valuation 1K94 .. 9,72x.HH0 

Total tax (pit $1 .(HH)) $1J ."jO 

I'o|iulatiou 9O(localc('nBU»)27,709 



LOANS- 

FUMUINU Bonos— 

6s, , tiJT.aOO 1906 

6s. , 95,000 1915 

es, , 05,000 1917 

4«, , 34,000 1920 

IlirKOTKMKirT BOHI>S— 
8«, A*0, $500,000 Oct. 1, 1921 

K. 8. Railroad Bonds— 
5s, , $275,000 1910 

Tbe city owns $100,000 Knoxvtlle J: Ohio And $275,000 Knoxville 
Bonthem stock, its total property, lucludinK this Htock at par value, 
beInK $720,145. 

Hambarf , Iowa. — Below is a statement of the financial 
condition of this city on July 1, 1895. 
Hamburg is in Fremont County, 

Bonded debt Jnlv l.'9.5.. $19,400 I Population In 1890 was 1,634 

Tax valuation l>i94 301,801 Population in 1880wa« 2,036 

Beal valuation 1,500,000 | Population 1895 (estimated). 2,500 

Uarrard, Neb.— Tbe financial condition of this city on July 
1, 1896, was as follows : 
Harvard is in Clay County. 



Total debt July 1, 1895.. $10,.'>00 

Water debt (Included) 7,.'>00 

: valti 



Tax ' 



tlatlon 1894 215,000 



Real valuation $1 ,000,000 

Population in 1890 was 1,076 

Population 1895 (estimatc^d) . 1,000 



West Indlanapalls, Ind.— Following is a statement of the 
finances of West Indianapolis in April, 1895. 

Total debt April, 1895... $69,154 I Real valuation $5,000,000 

Tax valuation 1894 3,408,245 | Population 1895 (c«t.) 7,000 



Lawreuce County, 111.— Following is a statement of the 

financial condition of Lawrence County on July I, 1896. 

County seat is Lawrenceviile. 

Total debt Julv 1, 1895.. $21,000 i Population In 1890 wan 14 693 

Tax valuation 1894 1,603,851 Population In 1880 was 13,66a 

Real valuation 6,000,000 I Population 1895(eHtlinated)16,000' 

Sockdale, Tex.— Below is a statement of this city's total 
debt, valuation sad population. 

R)ckdile is in Milam County. 

Total debt June. 1895. .. $32,000 ] Population in 1890 was 1,505- 

Tax valuation 1894 80.),4»0 Population In 1880 was 1,18B- 

Real valuation 1.200,0(Xi 1 Population 1895 (estimated). 3,300' 

St. LoalB Coanty, Miun.— The indebtedness, etc., of thai 
county in April, 1895, was as follows. 
County seat is Duluth. 



LOANS— When Due. 

Refu.nihsg — 

G»J&J,.f 9 1,1.50 1907 

County order.* out«taiidin)t..$3,967 

RuAU AMI l!itii>uK Bonds— 
5», J&J, $40,000 1908 



Total debt Apr., '95... $492 150- 
Tax valuation 1894... 53,391,959 

Beal valuation 100,000,000- 

Tax valuation, real 37,955,599 

Tax valuat'n, person! 4,934,570 
Total valuation 1891. 42,890,109 

4i38,JA.T, 30,000 1909 I County tax (per $1,000) '90. $2-90 

4'.j», JiStJ, 50,000 1910 Population in 1890 was 44,862 

4tss, J,S:J, 30,000.... July 1, 1911 1 Population 1895 (est.) 90,000 

INTEREST is payable in Xow York at American Exuliaage National. 
Bank. 

Waco, Tex. — Below we give a portion of the statement ap- 
pearing in our State and City Supplement regarding the 
financial condition of Waco, which has been corrected to 
June, 1895: 

TOTAL DEBT in June, 1895, $703,900; sinking fund, «44,187 
net debt, $059,313, Total value of jiroperty owned by city. Including 
public schools, $768,000. 

ASSESSED VALUATION in 1894 was $9,925,994; in 1893, $10,. 
050,460; in 1892 $10,641,814; in 1890, $8,337,951. State and county 
tax rate in 1893 (per $1,000), $6-15 ; city and school tax, $17-10; total,. 
$23-25. Property is assessed at 60 per cent of its actual value. 

POPULATION.— The population in 1890 was 13,067; in 1880 was 
7,295. AccordiuK to local figures the population for 1895 is 20,114. 



NEW LOANS. 



BONOS. 



Municipal, County and State Bonds 

For InTcstor*, Trnst Fnnda and 8avlnirs 
Bonks. 

FOH SALE BT ' 

Rudolph Kleybolte & Co. 

INVESTMENT BANKERS, 

CINCINNATI, O. 
Descriptive Ltatci Mailed on Application 



JULY 

INVESTMENT LIST 

Will be mailed on- application. 

N. W. HARRIS & CO., 

I BANKERS^ 
13 WA1.I. STREET, - NEW YORK. 

CITY BONDS 

8UI1ABLE FOR 

TRUST FUNDS. 

L,IST» UPON APPLICATION. 
1' CORRESPONDENCE SOLICITED. 

Farson, Leach & Co., 

OMICAOO. % W ALI. ST., N. Y. 

W. J. Hayes & Sons, 

BANKRHS, 

Dealers in!MUNICIPAL BONDS, 

T^ltStnt!^'""'' ^'""^*- *°* olher-lhlKh gr.de In- 
BOSTON, MASS., Cleyeland, Ohio. 

■ieb.ng« piM„ 311-313 Superior St. 

Oa)M AUm*. "KXNtlBTH." i 



NEW LOANS 



C. H. White & Co., 

BANKERS, 
72 BRO.%DWAY, NEW YORK. 

City, Connty and First Mortgage 
Railroad Bonds. 

LISTS niAILED. 



NEW LOANS. 



WHANN & SOHLESINGER, 

BANKERS, 
MUNICIPAL BONDS, 

3 Wall Street. New Yorlt. 



GEOBttIA MORTGAGE LOANS. 

SOUTHERN LOAN AND TRUST COMPANr OF 

MACON, GA. 

J. 8. 8CH0F1ELD, Pres. H. M. SMITH. Seo. 

F. O. 8CH0F1KLD, Treasurer. 

Thl» company makes a speolaltj' of handling a llm ■ 
ItM amount of the best Hye-year mortBaRe leant 
urorded by this community. Doing only a Bmall 
Daalness in this Hue, we can select tbe beet. Loane 
secDrea by business property net the Investor six 
per cent, residence, sevea per cent. Principal and 
Inlereat payable at the Merchants' Exchange Na- 
tional Bank. New Vorlt. CorriMp.>ndeuoe •olloltad. 



O.W.Haskins, E. W. Sells, 

No. 2 Nassau Sthekt, - New Yokk. 

otter their serrtces to make "^ > 

PERIODICAL AND SPECIAL 

EXAMINATIONS OF ACCOUNTS AND 

RECORDS, 

INVESTIGATIONS OF AFFAIRS. 

and to introduce 

SI.MPLE AND EFFICIENT METHODS 

OF ACCODNTING. 

Oyer twenty years experience In the Operatlnir 
AooountlnK and Kinanclal Departments of Ballwan 
and oihor corporatlous, and bave 

KiS.Y..l"?"i''''.1'".'" ReyUeil the Acconntine 
Syeteni of ibe United Smtes Uavernment. 



W. N. Coler & Co., 

BAJS&ERS. 

MUNICIPAL BONDS. 

84 NASSAU STREET. 



High-Grade 

CITY, COIJIVTY AND 

BONDS, 

Netting 4 to 7 Per Cent Interest 

We make a specialty of High-Class Secnrltlea 
suitable for permanent inyestment. 
Correspondence solicited. 

SPRAIN, DICKINSON & CO., Bankers, 

10 Wall Street, New York. 



HOLMES & CO., 

ai BROADWAY. . . NEW YORK. 

BANKBR8 AND BROKERS. 
Members of the N. Y. Stock Exchange. 

Investment Stocks dk Bonds, Grain, Cottcm, 

and all securities that are dealt In on the 
New Tort Chicago, Philadelphia or 
Boston Stock Kxohanges, bought 
and sold for cash or car- 
ried on margin. 

Grand Union Hotel, Saratoga. 



Fred. H. Smith, , 

No. 8 BROAD STREET, NEW YOBK«i 

STOCKS AND BONDS. 

MARBIII ACCOUNTS BOLIOITJIO. 

INTKREST ALLOWED ON BALANCES. 
Market Letter on AppltcaUon. CorreapondoiM) 

Inrlted. Established 1888. 
All classes of Unlisted Securities and TraetlOB 
Stocks Bought and Sold. 



WARRANTS fgy^'SS^s^i^f- 

COUNTY, CITY AND SCHOOl! 
JHO. P. DORR & CO.. SMKIe. Wash,! 



I 




xmtk 



HUNT'S 3IERCHANTS' MAGAZINE, 

BBPKESB VTI VO THE INDUSTRIAL AND COMMEttOIAL INTERESTS OP THE UNITED STATES. 

[■■tafMI aeoordlim to Aot of OongreM. In tha juitr 1895, by the ffu.Li ak B. Daju OourAXT, la the oOm o( the Ubnkrimn of Oongreaa.] 



VOL. 61. 



SATURDAY, JULY 20, 1895. 



NO. 15()9. 



She Chcanicle. 

Teras of Sabterlptioa— Pajrable !■ A4raae«: 

WvrOut Tav „ 910 00 

VW Biz M ODthe 6 00 

— l o y eaa Sabeertptton (iMliidlu pe«ia«*) 13 00 

■aropeuavbeattpOoaaizltoaUMaBeliiAlaxpoetace). 7 00 

Aaaoal BabMrtptwa la Leatea (teatadla* poatac*)-— '* 10*. 

■txMoa. 4o. do. do. ....«110i. 

Tka UHMIOM ' ScrrrLBvairr wUl be rnrnUhed wlUutui mm ekargt 

to erecT ansoal •abeerlbor of the OosiaiactAi. ajtu FtJiAJiciAi. 



ThatCAta AMDOm Bumnnn win alae ba faralakad if<iAa«i 
•■«ra « * aryi to ararr aabaaHbar of tka OaaonouL 

Tka SraasT Railwat Soprtaiinrr wiu llkewlea ba foralakad milK- 
vu fH i ■ eJkara* to avefy Mbeeilber af the Cnaoincta. 



Tka QoovATioa SorrLunrr. taaoad moalblr. wUI alao ba taialabed 
wUkatattrm limrf to araiT anbaetlbar of tba CaaoncLB. 
VnaaavanaMtaUMMaaala aaabi Boala«a oa tba aaaa to 18 



r aabaetlbar of tba CaaoncLB. 

aaala aaabt vaalatia aa tba a ._ 

FUa aarar far aopplaaaata eao ba bad at afllaa for M aata or 
faalled for 80 e»au. 

Teraa of AdTertUlBr— (Per isch •»•««). 

Ootttaa SSMlThfealloatka (UtBMa|..9>B00 

OMMaatk I4ltaiaa).. 11 00 Biz Moatha (M " >.. 43 00 

T«e«oalka <• •• I . 18 00 1 Twaira Maotba (SS " ).. MOO 

(Tba abora terra* for oaa aMstb aa4 upward ara for staadlac aario.) 

LBa4«> Areata: 
MM^ia. Kdwabm * Bhitb, 1 Draper*' Oardaaa, B. O.. will take aab- 
airtpuonaand adratHaaMaato. and tupplr ala«(ia *opl*a af Ik* fapar 
at I*, aaob. 

WII.LI.in B. OAKA ro.lIFA?IV, Pabllahera, 

Pine Hireet, Coraar af Pearl Blrret, 

Poar Omca Box 0M. NBW TOKK. 

CLBARING HOUSE RETURNS. 
The following ubie, made ap by (otaRfrnph, etc., iadiOBtei 
that the total bank clearinca of all th* oleariac hiWBBB of the 
Uait«d State* for the week ondinc to-day. Jaly 30, hare been 
fl,014.S4S,4«0, against 91,068,8ar7,«9 laat week and |809,M7,- 
3W tbe eorreapoadiBg week of but year. 



CLBAanoai 




Saw Ortaaa*. 



Beraa ettla*. » tar* — 

«t<t**.S«Ar* 

Total aU «ltl*cB 4ara. . 

An Ma**. i4ar 



Ttal all MUM tor wook. 



•Tm* BMIa* yatr M. 



•t«9,mieil 
•M4».«4S 

•ft,i4e,ni 
iijoi,«n 

TI.B1I.M0 

ie.78e.ua 

S,TM.a0T 



8707.»ai.t80 

A vViv0Vv* ^Hp% 



8e4r4T«.»7« 

i7i.e7A4a* 



ei.oi4.»48.«ae 



•88ej7».IOI 


+ .111 


BMirtM 


■f»l J 


«MM.«1T 


+U-4 


ll.0T5.eB8 


+ *•• 


ei .888.138 


+17-8 


1^888.811 


i-fl-7 


8.1T8J0O 


+ 11* 



B88e.BS4.40B 

118,0881888 



8888.780.778 
1S4,S4<.48S 



*80*.*«7.9ae 



ArCtau. 



+a7i 

+10-8 



+38-3 



+301 



The foil detalla of rJearhtge for the week oorered by the 

Wore etatemeirt will be ciTea next Satunlay. We cannot, of 

I VB^inB, ftmieb tbem U>-S»j, bank clearinfc* bein^ made up by 

m» rarioaa rleartan h oBBBe at aooa oa Saturday, and hence in 

■8 aboTe the taat twenty-^aar hoara of tlte week hare to be 

I ■ •>< Mted, as we KO to preaa Friday night. 

, Chir iM Af^uTH for the prerioiis week, oorerinff 

l<|Bn^( '<-nod anding with Saturday noon, July 

I *> Br< and wb also prsBent tbe reettlta for the 

" u »— » in 18M.1W3 and 18»a. In comparison 

I Vltb tbe iTeo»line week tbere is a decrease in the aggregate 

laebaoRp* nt s little leas than eighty-four million dollar*, 

l**^ at N. w York tlie lo** is aerentyeiKht and a half mil- 

lUon*. C<>ntra«t«(l with tbe week of \^M\ the total for the 

I ootintrT show* aa iacrpaM of 24-5 per oenL Compan^l 

Um week of 1M8 the current returns record an excess 

i.""9r-" • tod tbe lose from 1803 is 3-7 per cent. Out- 

»o' k tho cain "Tor I80l is Ifl 1 jier cent. The 

.-MZ teacbes 18 par cent, but making oom- 



pariaon with 1898 tbe decrease is seen to be 3'2 per centt 




i.t(ti*ito3P: 

Total So*(b«ni 



Moairaal.. 

Ilallfu. .. 
winnlpnr., 
famllton 

ToUl I'llBXlj. 



> Met taataaad la lotM*. 



86 



THE CHRONICLPl 



[Vol. LXI. 



JiEPORTS OF TRUST COMPANIES LY NEW 
YORK AND BROOKLYN. 
On pages 114 to 116 will be found complete reports 
of the condition of the trust companies in New 
York City and Brooklyn on June 30, 1895, as com- 
pared with the corresponding dates in 1894 and 1893. 
The returns for December 31 for three years were 
given in the Chuonicle of February 2, pages 220 to 
23S. 

TEE FINANCIAL SITUATION. 

Foreign exchange rates have been the conspicuous 
feature of the last three weeks. There never was an 
occasion when they ruled so high because never before 
was the par of exchange so high. A small amount of 
gold, 1250,000, went to London last week ; other small 
lots reaching in the aggregate a somewhat larger sum 
have been shipped this week ; also certain amounts 
were sent to Canada during the last two weeks or more. 
Yesterday $1,000,000 were withdrawn by a firm of 
coffee importers for shipment to London to day. 
In some quarters these transactions, put in connection 
with the trade condition and the high rates for ex- 
change,^ have been misinterpreted and given undue im- 
portance, the claim being made that they indicate a 
large outflow of gold to be in prospect. The truth is, 
the shipments referred to are all except the last special 
matters of no significance whatever and might occur 
under any conditions of exchange, the Canada affair 
being a need to fortify the reserves of Montreal banks, 
a precautionary measure owing to the failure of the 
Banque du Peuple, while all the amounts sent to Lon- 
don other tlan the shipment of to-day were, in some 
manner, not quite apparent, connected with the 
scarcity and high price of and the urgent demand for 
English sovereigns ; furthermore, no considerable 
amount of American gold could be marketed now in 
London at rates which would pay for its export. 

Nevertheless it should be understood that we have 
reached a period of the year when the balaice of trade 
no doubt is for the time being against the United 
States. This condition is made evident by the 
monthly (rovernraeDt figures of imports and exports, 
reenforced by the unusually large demands thu country 
has to meet in July for interest, and also for tr^vi lers' 
credits. The ChroxiclE readers are aware that our 
estimate for these latter and other like unrecorded 
items of current debt is an average of about 11 million 
dollars a month over and above the offi jiil tra I j result. 
Of conrse this invisible debt falls below the average 
in most months ; but at some seasons of t'le year, 
especially in June and July, it is materially above ir. 
Consequently, with the trade balance, the large July 
interest payments, and these travelers' credits against 
us, a gold movement to Earope would be we might 
say not only the normal condition but to day the in- 
evitable condition were there not offsets to bo taken 
into the account. To indicate the average situation 
we add that in the 16 years beginning with 1879 down 
to, but of course not including, 1895 there were 10 
years in which there was a net gold export in July and 
only 6 years in which there was a net import. 

The foregoing shows clearly enough that the Syndi- 
cate is not making the prices for foreign exchange 
high. Under the circumstances it is more reasonable 
to inquire why the rates do not further advance, so that 
gold may be exported at a profi'. The answer 



to this latter suggestion is that a constant move- 
ment of securities to Europe is in progress through 
our banking houses; not a mail arrives we are told that 
does not bring orders. Besides this movement there 
are every week announcements of special loans 
placed in Great Britain and on the Continent; 
the most conspicuous this week was the 
Lehigh Coal Company bonds of over $6,000,000, 
taken by Brown, Shipley & Company— which shows the 
trend of the capital movement is unchanged, though 
we do not suppose that this special transaction will 
furnish exchange to the amount of the loan, the pro- 
ceeds going in part to pay a previous indebted- 
ness. Still security bills growing out of this Eu- 
ropean demand are a constant source of supply which, 
with the bills drawn against future shipments of 
produce, especially of cotton, are together proving 
sufBcient to keep exchange below the gold shipping 
point, and will, we are told, continue to keep it there. 
We would add that no exporter of gold can know 
whether he has made a profit or a loss on the operation 
until he has withdrawn his gold from the Sub-Treasury 
and knows its weight, and then not until he has sold it 
in London. 

While prices of anthracite coal- remain extremely 
low, no improvement in the condition of the trade 
having occurred in that particular, the policy of re- 
stricting the output, judging by the latest returns, 
appears to be more closely observed than heretofore. 
The statement for the month of June, issued this week, 
shows that the shipments from the mines during the 
month in 1895 were only 3,777,644 tons, against 5,- 
116,844 tons in June 1894, a decrease of over IJ mil- 
lion tons. Of course this falling off from last year's 
product is not conclusive on the point whether 
restriction is being practiced, for in June 1894 the com- 
panies were taking full advantage of the strike in the 
bituminous region and increased their production a 
whole million tons, 5| million tons having been mined 
in that month — much the largest amount for any 
month in the history oE the trade. A better in- 
dication is furnished by comparing with June of the 
previous years, and here we find that the 1895 output is 
337,988 tons less than in 1893 and even 44,163 tons less 
than in 1892. Moreover the sales agents at their meet- 
iug the latter part of May had fixed on 3,700,000 to 3,- 
800,000 tons as about the proper amount to be mined, 
and the product at 3,777,644 tons thus comes within 
the mark. It appears that tidewater stocks increaiei 
notwithstanding the smaller production, and at the 
end of the month were 873,672 tons against only 726,- 
996 tons at the baginning. The stocks are now larger 
than at the corresponding date of other recent years, 
as will appear by the following table in our usual 
form. 





June. 


Jantiary 1 to June 30. 




1896. 


1891, 


1893. 


1895. 

Tom. 

780,913 
20.874.906 


1894. 


1893. 


stock beglQiilng.. 

of period 

Prodactlon 


Tbfu. 

728.996 
S.777.644 


Tbns. 

664,180 
5,116,844 


Tbiw. 

877.014 
4.116,632 


Tons. 

728,878 
19.398.021 

20,128,899 
745,162 

19,381.737 


2bn». 
667,868- 
ai,022,85» 


Total supply . . 
St'k end of period 


4.604.610 
872.672 


6,781,024 
745,182 

6.035.862 


4,992,846 

808,864 


21,455,819 

872,672 


21,680,721 
808,88* 


Disposed of . . . . 


8.631.968 


4,183.792 


20,583,147 


20.871.867 



A question of interest is as regards the output of the 
different regions, in view of Reading's demand f t a 
larger percentage of the total. We find that of the de- 
crease of 1,339,200 tons from last year 991,054 tons fell 
on the Wyoming region, but only 249,928 tons on the 
Schuylkill region (whence com^s the Reading oal)- 



I 



JULT SO, 18»S.] 



THE CHRONICLR 



8t 



and only 98,217 tons oa itte Ldbigh region. Bat this 
does not indicate the fall measure of the change in the 
relative proportions of the different regions. Com- 
paring with 1893, we see that there is a decrease of 
381,336 tons in the oatpat of the Wyoming region and 
a decrease of 22,269 tons in that of the Lehigh region, 
bat an tAorease of 65,618 tons in the output of the 
Schuylkill regions. Stated in another way, the 
Schaylkill region has 31*67 per cent of the total in 
1895 against only 28*37 per cent in June 1894 and but 
27*48 per cent in Jane 1893. The Reading is not the 
only producer in the Schaylkill region, but it is the 
principal producer, and these figures show that it 
must be gaining the point for which it is contending, 
namely a larger share of the joint product. 

3Ioney on call, representing bankers' balances, has 
been freely offered this week at 1 per cent; the bulk 
of the business has been done at this figure, though 
considerable amounts hare been placed at H per cent, 
making an arerage of about 1^ per cent. Hanks and 
trust companies quote 1 per cent as the mioimum. 
thougb new loans are generally at 1| per cent. The 
demand for time money is improriog and offerings are 
liberal for short dates, while they are only fair for long 
periods. Some of the foreign bankers hare been loan- 
ing at 1^ par cent for sixtf da^s and a few of the trust 
companiea hare obtained 3 per cent for ninety days 
and 3} per cent for periods extending beyond 
the new year. Qaotatioos for loans are 2 per cent 
for thirty to sixty days, 2i per oent for ninety 
days and 3 per oent for foar to six month*. 
Comm>:rcia] paper is in better deoiand, dne 
to the advance in rate* by brokers who hare been car- 
rying a supply of names which they hare until recently 
held at lower figures, and during the week there hare 
been fairly liberal offerings of new names. Quotations 
are 3 per oent for sixty to ninety day bills receirable, 
3i04 per cent for four months' oommissioa house and 
prime four months' single names, 3i®4 per cent for 
prime six months' and 4^05 for goo<l four to six 
months' single names. Re-diacoanting by New York 
banks for their correspondeota in the West continues 
good and the demand ia improring in the South- 
west. 

The Locdoa m«rket was slightly disturbed on Thurs- 
day by the fetp of omplicatioos arising oat of the as- 
■usiaatio-i of M. .SuaoaiolT, ex-Premier of Bulgaria, 
an! the X ) r Yjrk graii muke'.s were affected ia the 
afternoon by reports that war in Bulgaria waa immi- 
nent. The Bank of England minimum rate of dis 
count remains unchanged at 2 per cent. The cable 
reporU diaoonnts of sixty to ninety day bank bills in 
London 9-16 of 1 per oent. The open market rate at 
Ptfis is I { per cent and at Berlin and Frankfort it is 
H per cont According to our special London cable 
the B»nk of England gained £53,533 bnllion during 
the week and held at the close of the week £37,533,739. 
Oar correspondent farther adriaea as that the gain was 
dne to £17,000 sent to the interior of Great BriUin, 
and to an import of £71,000, of which £83,000 were 
from Australia and £8,000 were bought. 

Toe foreign exchange market has been rery dull 
^d generally steady this week. The demand for re- 
pUttance has been light and the supply baa chiefly 
Boom from the Syndicate bankers, there being few se- 
purity bills. There hare been some drafts against cot- 
ton fnturea and a little specnlatire selling of long bills 
was noticed during the middle of the week. On Mon- 
day the Merchants' Bank of Canada adranced posted 



rates to 4 90 for long and 4 91 for short, 
the rates for actual business justifying sach 
a morement. Rites for actual business in sterling 
were 4 89@4 89^ for sixty day, 4 90@4 90} for sight 
and 4 90}@4 90^ for cable transfers. There was no 
change on the following day and it was then announced 
that the Merchants' Bank of Canada would ship 
1100,000 gold to Canada, this being, as was 8ab8e< 
qnently explained, in anticipation of possible derange- 
ments as the result of the failure of the Banque da 
I'enple at Montreal. On Wednesday the market 
continued dull and steady, and the only incident was 
the shipment of the 1100,000 gold to Europe by 
Messrs. Nesslasre, Colgate & Co., which was followed 
on Thursday by #180,000 more by the same house, 
and yosterdiy by tlSO.OOO engaged for shipment to-day, 
which transactions were, as stated by them, strictly 
I a the way of business, and part of these consignments 
'onsisted of smelters' bars. Thnrsday afternoon the 
(Janadlan Bank of Commerce withdrew from 
the Treasury $75,000 gold for shipment to 
Cans''* and the mercantile house of W. H. Crossman 
vV C). gare notice at the Sab-Treasury of the intended 
withdrawal ot»betwoen 1750,000 and 11,000,000 for 
dhipmeut to Europe on Saturday, the amount being 
io*itingent upon their ability to procure bilh instead. 
The tone of the market was quoted a shade easier at 
the clow of that day. Yesterday it was announced 
that Messrs. Croasman & Co. would ship 11,000,000 
to-day. and the cloM was steady. The following table 
shows the daily posted rates of exchange by the leading 
drawers. 



lUmmmMOo.imt»tu... 



m. Moiu Tnw, W*<1, 




...JSlBbL. " 



VA Si 



»l 



•t 



s» 



VA 



90 

»1 



Tbnra, 

luir in. 

•0 
91 



Stt 

ss 



<<r>»«mi.lato>t,... 90M 






ss (Si ssK iStt 

9% Si Sli 8tt 
Sl$ SS{ SSS 89 

orCteate.... llMrtI 9«li 91 91 01 9i 91 

The market closed steady on Friday at 4 S9k<^i 90 
for sixty-day and I 904(^4 91 for sight. Rites for 
actual basineu in sterling were 4 89^4 89} for long ; 
4 90O4 90} for short, and 4 90}(34 90^ for cable trans- 
fer*. Prime commercial bills were 4 88^:94 88} and 
dooamentary 4 88(^4 88}. The Bureau of Statistic* 
at Washington has this week issued the foreign com- 
merce figures for the month of June and the following 
is a summary in our usual form: 

iToa^iAs T««i>B MoTBwsrr or raa Dbitbd btatb*. 



la tfe* toUowlna ubIm thra* al»h«n (000) ara in all i 
-1*94-3.- 



ifarakas- 

aia^ s 

itT-ttn... ir-j.i«> 

OaL-Oaa.... 94'«.t«S 

Jaa.-llafah. itoajrt 

Apttt •a.tvi 

Haf 94Jm 

Jaaa SI.IOB 



iaT.MT 



Vout (MT.a»a 



Jalr-s 
<>at-Daa ... 
Jan.-IUi«b. 

April 

ytmj 

Jaaa 

Total.....' 
mivar. 

Jalr.«a9t». 

Oat..Daa ... 

iaa.-Manb. 

A»M 

Mar 

Total. ..' 
■flta 




MamarU. 
II14.IW 

tlJl.«70 
■ 1.079 
■•.8W 

MB1.90R 

ll.Mt 
S.W7 



BS.m aaitr i-3*.wi 



li.aao 

H.B7B 

1<IJI9 

4.09« 

4.«M 

.. 4.WT 

4r.it7 

■ of aTDOnt- 



11.7t4 

•n.tm 
«».tao 

»a.9w 

19.868 
IKJW 

1«.MT 
4.094 
3.1C9 

a«t 

9Jiia -t-3T.70« Sa.Ul 

— Wnim or lapona. 



•j.rat +mM» 

!<.t7» -I-9.900 

laoT -Mi.ois 

9«» +aM7 

•■9 -fS.lM 



omlttad. 

■1893-4 

Imports, L.. 
t ( 

iaM.199 -t^46.«a« 
147ja8 -fltM.M« 
IM,«7« -t-9a.l9« 

at.i«« -I-4.8U 
aa.ioo -t-4jsB 

»l.«7» +9M» 
• 47.77S -f-J44.18t 

94.20* -a I, Ml 
■JOt -3.M8 

a.9«7 . -f4.m 

4.M1 +113.I9« 

009 ■t-'M.rn 

74.441) '1-4.M9 

•.4St -t-8.4S 
3.M8 -»^*,«0i 

3.427 -fia.o** 

•OJ -t-3.48S 
775 +9.9H 

■•i -t-a.ao* 



ts.ts6 +at.i» 



88 



THE CHRONICLE. 



[Vol. LXI. 



We subjoin the totals for merchandise, gold and 
tf Ter for the six months for six years. 



1W3 
X8M 
X8»X 
18M 



MnKSAVDISB. 






« I « 

38'y,Mu3»l.W0 
4e4.ll><i 3-iM.7^l 
S8H*<*' 'I.IT.l!)- 
4r*.IM 431 *!!» 



•/ 



SOLD. 



tart*. 



% t 

•••»,(|O0'»3,7ll* 
47.4ZS41.MB 



41 ».:«<> iS-i.iH<),*13.-'U 70.«^) 
a»)l.«o- 4 II.UTlMW.Til H.lto 



1«- 
f»rU. 



I 

•a.i.ao£ 

11. «6 

1I.7U) 

3.806 

9.303 



af 
Krportf 



t 

3Q.t7< 

ei.<m> 

33.(83 
67.1M 

a.8w 



BILTIB. 



ports. 



t 

•JS.897 
■23.7K 
19.U£ 

14.700 

».e72 



Jm- 
porti. 



Exctw 
0/ JIx- 
porfj 

• "T" 

4.27U 19.1118 
4,(>8l IH.lfO 
9.S7S !•.'.'"!> 

Kica! «l.';■^s 

e.S43' 3.»'->9 

10.7«2 •.<.s;a 



' Zxaau of Imiiorta. 

Jane completes the fiscal year, and the results for 
that period are analyzed to-day on a subsequent page. 

We review the gross and net earnings of United States 
railroads for the month of May in another article. The 
statements thus far received for June are quite favor- 
able as a rule. The Baltimore & Ohio (Eastern and 
Western lines combined) reports for that month 
$153,970 increase in gross and $96,860 increase in 
net; the Pittsburg Cincinnati Chicago & St. Louis, 
one of the properties in the Pennsylvania systeji, 
$141,546 increase in gross, 1105,568 increase in net, a id 
the San Francisco & North Pacific $3,855 increase ia 
gross and $4,661 increase in net. Two of the smaller 
Southern roads have also furnished their returns for 
June, .^nd these both show a decrease; the Nashville 
Chattanooga & St. Lonis reports gross of $342,570 
against $350,289, and net of $128,706 agjalnst 1129,363, 
and the Georgia Railroad gross of $77,258 agaiust 
$78,102, and net of $115 against $20,767. 

-May Earnings. ■ . 



Namt of Boad— 
OeDtrsI PadSo Oroaa 

Nat 
OlAreland Akron & Col Gtou 

Net 
Flint & Pere Marquette Orou 

Net 
Oraod Trunk Grou 

Net 
LAke Brie & Western Gross 

Net 
I.oala.N.Alb.ACblc. Gross 

Net 
Bi. Loals Alt. A Ter. H Gross 

Net 
Weat.M.T. APa Gross 

Net 



IStS. 
t 

1.068,803 
8ei,0M 

20.864 
208.1S1 

50.106 
1 ,i45.iS8 
192.624 
298,007 
102,288 
238,823 

87,798 
106,078 

41.238 
266.033 

64,779 



18S4. 

( 
1.116.82? 

403,812 
70,881 
19,360 

187,781 

96.263 

1.123,286 

474.289 

259,647 
91,756 

233,605 
78,818 
76,658 
19,162 

182,566 
20.922 



1893. 
( 

1,330,218 

656,40» 

84,383 

21,244 

268,811 

59,6 a 

1,571,915 

501.389 

302,680 

115,507 

298.673 

106,656 

128.907 

46.119 

320.412 

101,750 



1802. 
« 

1,226.807 
509.181 
88,597 
24,898 
!;i8.599 
69,086 



253 063 
1' 1 910 
268.198 

82,556 
lOrl.ll* 

31.B27 
280.825 
10l,70g 



-June Eat 



1895. 1894. 

Kmnu 0/ ilood— S $ 

Baltimore A Ohio Gross 1,890,556 1,736,886 

Net 743.336 646,478 

QKVIU..,.- Gross 77,289 78.102 

Net 116 20,767 

Hash. Cbmt. A St. Louis Gross 342,670 860.289 

Net 128,706 129.363 



1893. 
$ 

2.232.128 

742,856 

86,912 

2.700 



ISiia. 

* 

2.005.639 

628.520 

100.268 

18.455 

400,988 

161,232 



342,670 860.289 382.266 

128,706 129.363 112.691 

FUU. an. Cblc A St. L OrossInc.I41.&16Dec31t.902 lnc.lS8,99l Inc. 58.S78 

Net lac.l06.668Dect80,70j Inc.153,333 Dee. 33,96a 

Ban Kran. A No. Pac Gross 81.778 77.923 77.222 78,185 

Net 37,802 82,811 :11.118 31,194 

The following statement gives the week's movement 
of money to and from the interior by the New York 
banks. 



Wt4k BtMtn July 19, 1886. 



Onrrencx., 
e«14 



Total goia and legal tenders... 



Keetivedby 
N. r. Bankt- 



4,623,000 
528,000 



ltB.04t,000 



Shipped by 
If. T.BatAt 

$2,331,000 
600,000 



*2.931.0OO 



Wet Interior 
M(nem«nt. 



aaln.$2, 192,000 
Loss. 78.000 

8aln.$2,114,Oo3 



With the Sub-Treasury operations and gold exports 
the leirlt is as follows. 



ITssk 3nMtu July 19, 1896. 



Banks' Interior moTement, as above 

■nb-Treas. oper. and goldexpts.... 

ToUl gold and legal tenders. 



Bankt. 



(8,015,000 
14,300.000 



$19,815.000 



Outo/ 
Bankt. 



UttOhaimrt,. 
Bank BoMin i 



$2.93 1,000 Galn.sa, 1 14,000 
12,2l<0,000 Sain. 2,020,000 



$15.211.000 Qaln. 4,134.0(10 



The following table indicaies the amount of bullion 
In the principal European banks this week and at the 
corresponding date last year. 



Bank of 



England... 
Vranoe.. . . 
Oenuany . . 
Ausu-Uung'; 

Spain 

Netherlands . 
MaUBelglum. 

Toutbls week 
rot, prov. w'k 



July 18, 1896. 



Sold. 



Silvsr. 



87.523,739 
81,712,168 80,821.836 
86.296,910 14.828.090 



19,950,000 
8.004.000 
4.283.000 
2.681.667 



13,388.000 

18.3.50.000 

6,997.000 

1,842,333 



ToUU. 



S 
37,623,739 
132,633,984 
61,121,000 
33,818,000 
20,35»,'>00 
11.280.000 
4,0?7,000 



July 19. 1894. 



Sold. 



$ 

88,514.598 

73,526,000 

32,430.200 

10,558,000 

7.918.00O 

4,523, )00 

2,900,86; 



190.163,174 99,701,239 290.167,733 170,370,465 98.085,133 268,405,598 
lS9.80i).914'99.0d9,t82'2S8.H79,37(l^iei'.330,»80 97.816.687.267,146.317 



Silmr. 



50.808,000 

13,220,890 

16,401,00« 

9.219.00O 

6,936,000 

1,460,333 



total 



i 
38.514,698 
124,834,000 
45 651,000 
$6,959,000 
17,137,000 
11,469,000 
4,361.000 



THE "INDUSTRIAL" EPISODE. 

The dull period which always intervenes after a gen- 
eral recovery in securities has been enlivened this year 
by a rather remarkable movement in the industrial 
stocks. An observer who had noticed market quota- 
tions of these stocks alone during the last four weeks 
might very logically suppose that some grave general 
disaster had occarred. Taking the prices no later 
than at last week's close, he would discover that Sugar 
certificates since the early weeks of June had fallen 
14^ points ; United States Kubber Stock, 9; United 
States L3ather preferred, 13|, and Chicago Gas 
Trust, 23 ; and others in smaller ratio. 

It would probably astonish such an observer to learn 
that nothing whatever had happened in the financial 
outlook to cause such a collapse ; that the business of 
each of these companies, so ftr a^ aayb)dy was ac- 
quainted with it, had changed in no respect for the 
worse within the month ; that t^ieir dividends contin- 
ued at the previous rate; and, finally, that nearly all 
other securities on the Stock Exchange had treated the 
episode with indifljranca, often advancing slowly while 
the "industrials" ware cjUapsing. Such aa examin- 
ation would convince a careful stadant, as it has con- 
vinced many others before him, that a dilferent set of 
rules must be applied in passing judgment on " indus- 
trial " fluctuations from what is applied in the stand - 
ard securities of the market. 

It is our purpose in this article to exa-nine the his- 
tory and present status of the industrial stocks, and 
see what principles really govern their fluctuations. 
For advances and declines within a brief period of 10 
to 25 points cannot be meaningless, even in so com- 
paratively isolated a group of securities as this. He 
who dismisses the industrial fluctuations as wholly 
without significance may presently apply the same rule 
to the highest grade of market securities. 

The first reason for the wide fiuctuations in these 
stocks undoubtedly is that the real value and earning 
capacity of the companies are not yet determined. All 
of the industrial companies, properly so-called, are the 
creations of the movement between 188G and 1890 to 
restrict competition in various lines of industry 
through the amalgamation of separate concerns into 
national "trusts." Few of these companies, there- 
fore, have yet enjoyed more than five or six years of 
corporate life. Tneir finances have been subject to gen- 
eral public inquiry during a still shorter period. The 
American Sugar Refining Company dates back to 1891; 
the Cordage Company appeared upon the Stock Ex- 
change in 1891; the American Tobacco Company was' 
organized in 1890; the Distilling & Cattle-Feeding 
Company in 1893, and the other stocks of the group 
arose contemporaneously. 

Now under the best of circumstances, and with the 
most prudent management of capital and debt, five or six 
years is a short period in which to determine a corpor- 
ation's profit-making capacity. It needed much more 



Jin.T 30, 18»S.| 



THE CHRONKJLE. 



89 



ticae thaa this to ascertain the earniag power of our 
best-conducted railiray combinations. In the course 
of years the conditions, opportunities and limitations 
of railway bnsiness as an iuTeatment have been so 
closely studied and analyzed as to become a fairly ex- 
act science. Before such results had been obtained 
railway securities moved with mucb the same appar- 
ently senseless violence as the industrials more to-day. 
Some railway shares whose conditions are peculiar 
continue the oldfashionei moTement up to the present 
time. Xew England stock is one example. 

But not only were the tr^e possibilities pure and 
simple in these companies a matter of conjecture, but 
the question of capitalization added extremely to the 
perplexity. At best the sugar trade, the rope trade, 
the cigarette trade an4 the lead trade were problems 
apart from what the average investor had already 
mastered. But the problem bow far the capital could 
b« expanded and watered, and yet leare the companies 
a dividend-earning power, was infinitely more complex. 
This, to be sure, was in itself no novel problem, h'ail- 
way capital bal been watered, railway shares iuned as 
"bonos" to bondholders who built the roads, and rail- 
way stock " merged " on an arbitrary basis into other 
railway stock, years before the industrials were heard 
of. But the industrials began their capital cre«tion 
on a colossal scale. The old Sugar Refineries com- 
pany entered the Stock Exchange with a share capital 
of 150,000,000 ; this capital expanded within four 
years to 975,000,000. The National Lead began with 
•89,000,000; the American Cotton Oil with •30,000.- 
000 ; the American Tobacco with •25,000,000. Th> 
Leather Company set ap in basineas two years ago, 
with no lew than •105,000,000 stock. Even the Dis- 
tilling Company, aometimea rvgarded as a minor enter- 
prise, has •35,000,000 stock onUtanding. 

It may be seen at a single glance how entirely thin 
fltate of things alters the problem. Nor was the difli 
eolty lightened by the fa?t that mnoh of this capital 
was assigned to rival manufacturers as the purchase- 
price for their plant. On the contrary, this added to 
the perplexity. Many of the mills thoa parchMed i 
were simply and permanently shut down; the new 
stock being, therefore, merely a lump snm paid to buy 
off competition, and hence an absolutely non-prodnctive 
investment for the trust. This was a problem wholly , 
new to.modem investors. In railway history precedent ' 
naturally unobtainable. It could not even be 
ired that the competitors thus bought off would 
not, on an advance in prices, re-appear elsewhere as in- 
dependent manufacturers. The Spreokels incident in 
the Sugar Company's history furnished an actual case 
in point. Therefore the outlook for indefinitoly in- 1 
•nMing profits, based on the stifling of competition 
fbroogh new liabilitiea, was always clouded by the pos- 
dbility of reviving opposition at a given trade level. | 

That all this complexity should cause wild flnctua- 1 
Hens in the market for the shares was as sure as any 
rket episode could be. To begin with, nearly all 
ftc original owners of the shares in these companies 
I anxious to dispose of part of their burden to the 
^■Mral public. This was especially true of msnu- 
Wtarers whose business the general company had 
ttoagbt out. Their mills, by the nature of the case, I 
tioaght a larger snm in the new stock at market value 
Am their previously estimated trade value. When,, 
Iharefore, the price of the new shares moved up in a 
ilock market " boom," an enormous mass of stock was I 
Mid by tboae who were properly called "insiders." 



Nor were these sales inspired, by any means, through 
knowledge of bad trade developments. It was merely 
an application of the old and prudent principle that all 
one's eggs ought not to be kept in a single basket. 
Undoubtedly this principle has continued more or less 
actively at work up to the present time. 

Another factor in the market movement developed 
naturally from this. The sugar, lead, rope, tobacco 
and leather manufacturers were able not only to watch 
intelligently the general course of trade, but their busi- 
ness insight showed them plainly how far the great 
company was maintaining its monopoly. For, as has 
been pointed out already, it might easily happen that 
a season of advancing prices for merchandise would be , 
the very season when new and dangerous competition 
was arising. Of this the general public could know 
little or nothing. It was easy, therefore, for "insiders' 
to sell their shares when the public was buying heavily, 
under a fahe impression, and to wait, with the absolute 
certainty that when the truth of trade developed later, 
the shares would fall to a level where they might be 
re- purchased at a decided profit. This operation has 
been the most familiar among recent incidents on the 
market. « 

One point alone remains to be discussed. In the 
railway companies investors have more or less frequent 
income accounts and balance-sheets, from which they 
may draw their own intelligent conclusions of the out- 
look. The majority of important transportation com- 
panies publish at least a monthly statement of net 
oamicgs; many report their gross receipts each week. 
The best that investors have yet obtained from the 
"industrial" companies is an annual balance sheet, 
accompAnied in rare cases with a yearlv income state- 
ment. Some companies neglect to publish even the 
balance-sheet, and it must be admitted that ev^ when 
they do the enormous and uncertain item of " good 
will " makes exact interpretation all but impossible. 
We are not concerned here with the right or wrong of 
this failure of the companies to publish their finances. 
The managers generally affirm that they would be 
placed by such publicity either at a disadvantage in 
their trade or at the mercy of attacks from the legisla- 
ture. It is enough to state the fact, which has an un- 
doubtedly important bearing upon the movement of 
the shares. 

Oar readers may ask after all this, what is our 
judgment as to the investment future of these prop- 
erties? The question is not easy to answer. We have 
described the wholly novel problems with which these 
enterprises have to cope. The outcome of this com- 
petition (^ocstion will not be the same in every "in- 
dostrial" concern. No two trades are alike in their 
conditions of production, and a theory which works 
out snooesifully in one mty be sure of failure in an- 
other. If we may judge by past experience in other 
shares, the excessively violent movements in these 
properties on the Stock Exchange will eventually sub- 
side. Still, from the nature of things there will always 
be a number of variable factors inherent in the busi- 
ness of the industrial properties, and whose effect on 
market values it will be difficult to gauge- Some of 
the concerns are obliged to carry large stocks of raw 
materials, and any changes in the price of such mate- 
rials duri'ig the process of manufacture musi: necessa- 
rily always affect very materitll y the question of ultimate 
profit and loss. Then the matter of management is 
exceedingly important, and the possibility of changes 
in the methods of manuf licture making old machinery 



90 



THE CHRONICLE. 



rvoL. Lxr. 



objcleto must also be considered. But it is not needful 
to enlarge on these point?. In the end some level will 
be reached— through the maintenance of unchanged 
rates of dividetdsif through nothing else— which will 
stand as the measure of such a property's normal in- 
yestment value. That the "industrials" do in the 
main pcssets some stable value is unquestioned. We 
shall be satiefied if we have pointed out to the average 
investor the jjeculiar conditions which he must consider 
in dealing in these properties. 



OUR FOREIGN COMMERCE IN TBE LATE 

FISCAL YEAR. 
, In studying and interpreting the foreign commerce 
statistics cf the United States for the fiscal year ending 
June 30 1895, issued this week by the Bureau of 
Statistics at Washington, the fact of importance to re 
membei is that, as in the previous year, there were dis- 
turbing conditions which had some effect on the final 
results. The change in the tariff law and the uncer- 
tainty preceding its enactment was one of these dis- 
tarbing conditions, and the large gold exports and the 
doubt regarding the maintenance of g. Id payments 
which existed up to the time of the making of the 
contract for the purchase of gold and sale of bonds 
with the Belmont-Morgan Syndicate was another. Not 
less important and unsettling than either of these were 
the low prices ruling for all articles and commodi- 
ties — the usual concomitant of periods of trade depres 
sion and lack of confidence. 

As concerns the change in the tariff law, it is difli- 
cult to say to what extent this has affected the final 
result for the twelve months. We know that in the 
case of sugar, which was transferred from the free to 
the dutiable list, the imports were extraordinarily large 
in the period before the law went into effect and 
dropped to abnormally low figures immediately there- 
after — that is, consumptive requirements had been an- 
ticipated so as to save the payment of duties, and 
hence imports of that commodity did not begin again 
on a normal scale until the lapse of a good many 
months. A part of the increased importations, pend- 
ing the enactment of the new law, fell in the preceding 
fiscal year. A review of the imports of this article by 
months is very interesting. The imports first became 
large in March 1894, it being then accepted as a certainty 
that there would be a duty on the article ; G91 million 
pounds of sugar came in in that month; in April the im- 
ports were 477 millions, in May 441 millions, in June 
521 millions, in July 766 millions. In August, when 
the law went into effect, the impons were only 148 
millions and in September they dropped to only 65 
millions; in October the amount was 114 millions, in 
November 161 millions, in December 191 millions, in 
January 1895 189 millions, in February 235 millions, 
in March 396 millions, in April 377 millions and in 
May 538 millions ; the figures for June have not yet 
been published. 

In those cases where duties were reduced or abol 
ished the operation of course was just the re- 
verse of this. The effect of these changes was 
particularly noticeable in the monthly move- 
ment in and out of the bonded warehouses, but of 
course imports also were affected during and pre- 
ceding the period of change. With regard to the 
goods held in bond, the total August 1 1894 had 
reached the large total of 151,292,719; by November 1 
it had been reduced to 131,689,833; at the latest date 



(June 1) it was 137,133,752. The law went into 
operation at midnight on -\ugust 27, bat the reduction 
of duties on tin plates did not become effective until 
October 1, and the reduction of duties on manu- 
factures of wool not until January 1 1895; a few 
minor provisions likewise did not become operative- 
until the latter date. 

Speaking generally, the effect of the revival of busi- 
ness activity which became so marked a feature daring 
the closing months of the year and the removal of the 
uncertainty regarding the tariff duties has been to 
bring about a decided recovery in our importations. 
This is clearly seen in the fact that the value of the- 
imports for 1894 5 is 743 million dollars, against only 
654 million dollars for 1893-4, and the increase is the 
more noteworthy in view of the large falling off which 
occurred in the item of sugar. We have not the space 
to go into an analysis of the imports by articles and 
commodities, and such an analysis would possess less- 
value than usual since the movement in 1893 4, by rea- 
son of the panic and the threatening condition of the 
national finances, had been abnormally low. We may 
say though that the recovery extends quite generally 
through the list. Even after the increase from 654 to 
743 million dollars, the 1895 imports are small along- 
side those for the years preceding 1894; for instance, in.. 
1893 the total was 8G6 millions, in 1892 827 millions, 
in 1891 844 millions, as will appear by the following, iu/ 
which we give both the merchandise imports and th&- 
merchandise exports, arranged in five-year periods. 

TALnE OF IMPORTS AND EXPORTa OF MERCHANDISE FROM 1881 TO - 
1895 INCLUSIVE. 



Tear Mtding 


MerchandUe. 


Bxcest 0/ Exporti 
or Imports. 


Total Imports 


June 30. 


Exporti. 


imports. 


and Exporti.. 


1881 


t 

902,377,346 
750,512,867 
823,889.402 
740,513,609 
742,189,755 


t 

642,664,688 
721,639,674 
723,180,914 
667.697,693 
577,527,329 


t 

Exp. 259,712,718 
Exp. 25,902,683 
Exp. 100,658,488 
Exp, 72,816,918 
Exp. 161,662,426 


$ 

1,545,011,874 


1882 


1,475,181,831 


1883 


1.547,020,316 


1884 


1,408,311,302 


1885 


1,318,717.084 


Total 5 years 
ATerage 

1886 

1837 

1888 


3,959,162,31)9 
791,892,474 

679,524,930 
716,183,811 
696,934,507 
742,401,375 

857,8-28,(184 


3,335.710,138 
667,142,088 

635,436,136 
692,319,768 
723,957,114 
745,131,652 
789,310,409 


Exp. 683,752,231 
Exp. 121,750,446 

Exp. 44,088,694 
Exp. 23,863,443 
Imp. 28,002,607 
Imp. 2,780,377 
Exp. 68,518,273 


7,295.172,507 
l,459,034,60a 

1,314,960,988 
1,408,502,979 
1,419,911,621 


1889 


1,487.533.027 


1890 


1 .«47,13D,09S 






Total 6 year? 
Average 

1891 


S.B91,892,607 
738.378,581 

884,480.810 
l,030,'i78,148 
847,665,194 
892,140.578 
808,0£9.tl9 


3,586,155,079 
717,281,016 

844.916,186 
827,402,468 
866,400,828 
654,894,682 
743,742,849 


Exp. 105,737,528 
Exp. 21,147,505 

Exp. 39,;84,8I4 
Exp. 202,875,689 
Imp. :8,T36,728 
Exp. 237,115,950 
Exp. 64,316,5:0 


7,2;8,t47.688 
1,455,809,587 

1,789,397,006. 


1892 

1883 


1,857,880,810 
1,7 14.066,119 


1894 


1,647,135,194 


ie95 


l,55r,802,263 


Total 6 years 
Areraie. 


4,462.624.143 
892.524.828 


3,837,457,051 
787,401,410 


Exp. 525,167.082 
Exp. 105.033,418 


8,400,081,194 
1.6«0,016,23» 



It will be seen from the foregoing that while the 
merchandise imports thus increased, roughly, 89 million 
dollars, the merchandise exports on the other hand fell 
off from 892 million dollars to 808 million dollars,. 
The re-salt has been that the trade balance in our favor 
was only 64 milion dollars in the late year, against 237 
million dollars in the year preceding. To this $64,- 
316,570 balance on the merchandise movement must 
be added 137,707,684 net excess of silver exports over 
silver imports and $30,984,449 net excess of gold^. ' 
making a total of 1133,008,703 paid by us on our- 
merchandise and gold and silver movement. We 
need not enter here into the question of how 
much payment is required of us in settlement of our- 
annual indebtedness to the outside world, as we dis- 
cussed that subject quite fully only a short time since. 
Obviously, however, the gold exports would have been- 
yery much larger had not the Government through the 
airangement with the Sjndicate checked the outflow,. 



JCLT 20, 1895 1 



THE C'HROINK^LE. 



91 



and at the same time restored confidence in t he ability 
and determination of the country to maintain gold p»y- 
ments. I'p to the time of the Syndicate contract the 
flow of foreign capital was distinctly away from the 
United States ; during the last two months of the fisia 
year, with the reTiral of confidence, the tendency was 
reversed and the flow was strongly in this direction. 





Sold. 


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bpcrta. ; AwOTCs. o.' 




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Jbynru. 




• • * 


1 • ■ • • 


san.... 


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With reference to the falling oS in the merohandise 
exporrs, the anfarorable feature there has been the 
rerylow prices receircd for our products. We show in 
another article that in the case of the wheat more- 
ment the shipments bare been rery satisfactory in 
<|uantity — being large ia themseWes and much larger 
th&n had b>ea supposed possible by minr, in view of 
the short crop last season — but that the price dropped 
to the extraordinarily low figure of 57 cents per bushel, 
and that as a consequence of thi« aid a f Ailing off ia 
the corn shipments, the aggregate value of the bres'l- 
stufli expor;« of all kinds was for 1895 the imsllest of 
any year since 1875. Bat cotton furnishes an fqaally 
striking instance of a great decline in prise, briogini; 
about an enormoui reduction in expert values. To 
show just how our exports of cotton in qutntity com- 
pare with other years, we subjoin the following table, 
giving the aonoal fignrea both in bales and ia poundi. 
In the same table also we show the petroleum ship- 
ments, this b3iDg anotbor important export com 
modity. 



X—r in O iif Jmm SS. 



vut.. 



MM. 



I»l. 



m 



MII.IM 
tJ«*.7M 



MSIJMjSIt 



tMun* 



msMavjts 



ajtiMso 
s/«ui« 



SjMI^U 



SL«n.7«Skas 
unjm.im 

•MS,«l«.<tll 

ajtatujM 
■.asi.*«j« 
Mn.«atvOi» 



•rtfraftttm. 



Ml.ar».7t> 

S'is.aoa,97t 

«ltiUr7j«a« 
aM.41t.4M 

K7«*.aaa 



•MJS\4'« 
1.4 1 1 



S14JII.WM 

asLMs.iM 

immso.t;7 

Tt«.«S.<7» 

SISut«o,iin 
M«kOti.soa 
Sf4.oos.ato 



wmrjmM. 

'mm* - - 



& 



■ai.UMMpo>t< of lb* 
•ixaWMt w •Bskt Mnaauauu 

It will be obaerved that the cotton thipmenti in the 
late year increased over I^ million bales, and reached 
enormous and unprecedented total of 6,965,348 
'hat is almost seven million bales. Previously 
<the very largest totals were thoie of 1891 and 1892, 
in es'h of which years the shipments were somewhat 
«bove 5,800,000 bales; the 1895 totol is over a 
Killion bale* in excess of the movement in those years. 
In pounds the increase in 1895 over 1894 was 834 
millions, yet the value of the shipments in 1895 ia 



found to have been actually about 6 million dollars 
less than in 1894, being *204,900,773, against $210,- 
869,289. If we compare with 1891 we find export 
values 86 millioa dollars smaller th^n at that time, 
though the 1895 shipments were 1,144,569 bales larger 
than those for 1891. But in 1891 the exporter received 
an average of about 10 cents per pound, while in 1895 
he received an average of less than 6 cents per pound, 
actually only 5 '83 cents. 

Petroleum forms a conspicuous exception to the rule 
of decline. In that commodity, a^ will be remem- 
bered, the falling off in production and exhaustion of 
some of the wells has caused an advance in prices, and 
this is retlected in the export movement. For the first 
time in a good many years the shipments of petroleum 
show a falling off, thoueh not large in amount, the ag- 
gregate for 1895 being 884 million gallons against 908 
million gallons in 1894. Oiring to the advance ia 
price, however, the value of the shipments in 1895 was 
*46,617,446 agaiost t41,499,80G in 1894. The follow- 
ing shows the export values of each of the four leading 
staples — breadstuffs, cotton, provisions and petroleum 
— for each of the last twenty years. 

Bzrons or LSADixa gTArvMa. 



'-^ »■•"' »rm^ 



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vm.. 

IMS.. 



.suiM\aa»,tas.»4.«MiiiWB7.aB3 «a. « aa jw sssj»«t.7i» 

aa8.tm.sai 

T1S,IM,TI« 

aBa,T«.406 



tmaBjx»'ia«.4»«.*oi aa.tiawa« 
..itiaisui*z47jH.T«i|iia,aoM«» «o.tiMOB 
..\umjm» 



1*17., 

■am. 
i«w. 
laM., 
t«i., 
laM. 
i«M. 






aOI.47S.1 



7aikMa,»r 



iimjnojtm it«.>«it,a»4 tM.aa3.«ae »i.«st.7«a 
..MiM0,«i>«4T.«a(>.7tt iaa.4i7.ii»| «4.»u,in» 

'lM.144.71t tB7.0ISJ04|llt.89S,7«M 41,lMjiW 

:<M>jni>.l«l 40l.WK.l3H |a7.!a',4M M.a»:.UI7Sttf.«il.lM« 

.4iMa.aa««io.iM».Ait' oojiMjial to.iaH,>ui 47i,'n7,«aoe7Bja4.«a 
,.;i«a.l«Mn to*je*.ao7, M(.nti.«8; 4ajai.ai3 6ii.g»).asoTia.t8<,iu 



TMol oO 



110,430441 
R3S.a38kW8 



aSS.4««.7flS'fl8MH.40S 

aai.oKvsas Mo.M8,aas 

74a.tK0.1t8 



, itT.IM J«7 t».ai<i.:ao wiX«y.ono| 

.;taKS1«uaM tS7,77ftjr7aiOt,IA444 

. iS4.iaB«*i «o.nri.7«( iM.«a4»al 
.li«.iti.Ma «an.7it.<c»i iw,oi7.4n| 

.{•«,«M.II7 )t1,4^l.«4l ll04at,tM| 
.'«Sa,tl*.4M I«<.77I.I4^ l»<.40I.Sei 

.tiat.T*4.g«H noMi.im iti.im.^ 

. Il4.at7.»7 f04.*0J.7laiM,4SK,*8>| 



47.04*. 100 

aaj 13.071 
ti.4oi.ij«a 
•SLoai^Taa 

44.NQMS1 

U.1 48.ee* 

41.48tU 
4M17.! 




884.4WAM 

iiijas.B<io' toM t-Hua 
aaajsr.7iK 'U7.>ms.i»4 

4M.40B.Olaw), 1 40.sn 
l»»,a04,tB > 808^060.418 



* rinra* for ISH «abJ«o( to illcht •orraoUoo*. 
tla^afiwkatk«ra««M>4r««iM«. wiaatoonsUlaaa. 

The four leading staples, it will be seen, account 
for 65 millioa of the 84 million decrease in the total 
neroluuidise exports in the late year. The rest of the 
deereaee is foucd in varioui articles and commodities, 
chiefly copper, clover, oil cake, hides, cotton manufac- 
tures and distilled spirits. 



8UQ0BSTIVE FEATURES OF THE ELEC- 
TIONS IN GREAT BRITAIN. 

It was a foregone conclusion that the elections ia 
Great Britain would result in a combined Conservative 
and Unionist victory. It was hardly expected, however, 
that the Liberals whom Mr. Gladstone, the greatest 
political leader England has known in many years, 
has so long influenced by his teaching and example, 
would be so discredited at the ballot-box as the returns 
thus far received have shown them to bo. Wo are 
scarcely permitted to doubt that the results up to date 
famish a fair index of what is to follow; and Lord 
Silisbnry and his friends are not without reason count- 
ing upon a majority bordering upon one hundred in 
the new House of Commons. 

Not in many years has British politics passed through 
a similar ordeal, or has either of the great parties 
experienced similar disaster. Some have found a 
parallel in 1886, when Mr. Gladstone made his famous 
appeal to the people after his first defeat in the Comi*. 



92 



THE CIIRONICLK 



[Vol. LXI. 



moaa on the Home Rule qnestion. A pirsllel has also 
been found in the situation which existed when he 
came last into power with a majority which seemed 
irresistible. More striking points of resemblance might 
ba found, wo think, between the situation of to-day 
and that which was brought about by the repeal of the 
Corn Laws in 1846. In that year Sir Robert Peel ac- 
knowledged his conversion to the doctrines of Gobden 
and Bright, and the Corn Laws were repealed. The 
result was that the great Tory Party was rent in twain. 
It was this rupture which gave birth to the Peelites — a 
party which, as all the world knows, under the leader- 
ship o( Mr. Gladstone ultimately amalgamated with 
and gave its strength to the Liberals. What happened 
to the Tory party in those earlier days has now befallen 
the Liberals. The intellectual pith has gone out of the 
party. Nay, more. It has gone to increase the 
strength of the Conservatives. It was for a time 
doubtful whether the Whig magnates who had with- 
drawn their support from the party with which they 
were historically associated would ever join the ranks 
of their old antagonists. The acceptance of office by 
Devonshire and Landsdowne has settled the question. 
The influence of these two great territorial families^ 
which represents thousands of votes, and, what is 
Bometimes mightier than votes, wealth, is as f^ir as we 
can judge permanently lost by the one party and per- 
manency gained by the other. 

It would be taking a very limited view of things to 
conclude that these men are alone. The feeling which 
has led them away from the ranks of Liberalism is more 
or less common among the men of their class, and 
prevails not only among the ranks of the aristocracy, 
bnt among property holders, manufacturers, and 
moneyed people generally. If the Duke of Devon- 
shire and the Marquis of Landsdowne represent one 
section of the community, Mr. Goschen represents 
another, and Mr. Chamberlain yet another. The 
people have risen up against so-called Liberalism. 
The campaign amounts almost td a crusade ; and 
one particular and peculiar feature of it is that no 
Peter the Hermit has been needed to arouse the voters. 
It has been a spontaneous uprising. We hear little of 
programmes or platforms. As we often see in our 
general elections, both State and Federal, the people 
in a great crisis rise above platforms and programmes 
and political orators. They know what they want ; 
and they know how to assert their rights. It 
is an Anglo- Saxon characteristic. The voting so far, 
it is well worthy of noting, is a marvelous manifesta- 
tion of common sense. The verdict has gone forth 
against all extremes. Radicalism in various forms 
had become offensive. It was blatant in speech, ar- 
rogant in manner, rude and vulgarly aggressive in ac- 
tion. Keir Hardie, who took pride and pleasure in 
sitting in workman's clothes in the -House of Com- 
mons, has been effectually snubbed for his impudence 
and sent back to his friends and his proper occupa- 
tion ; and John Burns has narrowly escaped a similar 
fate. For the general good a gulf has revealed itself 
between Radicalism and the self-styled Labor Party; 
and Home Rulers, if we are to take them into account 
in looking at the general situation, have by their own 
ilnhappy divisions deprived themselves of the power of 
being a factor of any consequence in the reconstructed 
House of Commons. 

It is no exaggeration to say that the result of the 
elections will amount to a revolution — such a revolu- 
tion as a free people should glory in. It is difficuit, 



however, at this stiige to resist the temptation to ask 
the question, what has been the cause or what have 
been the causes of this great change ? The late Lib- 
eral Parliament had barely completed half its term. 
Spite of the dissenters. Ministers had, as has been 
said already, a large and powerful majority. It seemed 
at first as if there was nothing too great for them to 
undertake and to accomplish. Home Rule, it was 
thought by many, would soon be an established fact. 
The Chureh in Wales was about to share the fate of 
the Church in Ireland ; and the Church in Scotland 
would soon follow. Session followed session, but 
while there was sufficient agitation, nothing was done. 
Mr. Gladstone resumed the work he began in 1886. 
His last Home Rule bill was as objectionable as his 
first. The House of Lords would not have it. A 
Church Disestablishment bill was introduced for Wales; 
but it failed to please the Welsh people them- 
selves. Meantime all outside questions were neg- 
lected. The foreign policy of the Government sank 
almost beneath contempt. Lord Rosebery comes into 
power handicapped with the policy of his predecessor, 
and, sharing his predecessor's feelings, breathes ven- 
geance against the House of Lords. With this state 
of things at home, Ministers giving their time and 
attention to questions and schemes to which the great 
body of the people, the influential classes particularly, 
were either radically opposed or utterly indifferent, 
France becomes impertinently aggressive in Africa, the 
nations blame England for her neglect of Armenia, 
and Russia, with the aid and approval of Germany and 
France, robs Japan of her dearly bought but nobly 
earned victories. It seems as if England has ceased 
to be, so far as outside nations are concerned. Dis- 
gusted with the policy at home, thoroughly sick of 
Home Rule, and ashamed of the policy abroad, the 
people have risen in their might and cast off the Lib- 
erals and all their belongings. 

What will the revolution mean ? It will mean, if 
we are to judge of Lord Salisbury and the men who 
are with him and of the present state of the public 
mind, the discontinuance of all domestic legislation 
the tendency of which is to irritate the public mind. 
It will mean the enlargement and the extension of the 
spheres of locJ self-government. It will mean the 
earrying out of needed improvements in the Army and 
Navy, and of the Imperial defences generally. It will 
mean due and careful attention to the Colonial in- 
terests of the Empire. Above all things it will mean 
revived life and vigor in the Foreign Office. With 
Lord Salisbury at the helm, the nations may expect to 
see restored that fine healthful action which brought 
battalions of Her Majesty's native Indian troops to 
Malta, and which enabled Beaconsfield to boast that 
he had brought back from Berlin "Peace with 
Honor." 



OUR BREADSTUFFS EXPORTS. 

In a previous article we have reviewed the country's 
foreign commerce for the late fiscal year. The bread- 
stuffs exports form an interesting study by themselves, 
and are important enough to merit a separate article. 

In general the breadstnfls movement shows results 
about as expected. Last season's grain crops in the 
United States were short, exports consequently fell off, 
and it happened that at the same time the prices re- 
ceived (more particularly for wheat) were very low so 
that there has been a most striking contraction in th» 



Jolt 30, 1895.] 



THE CHEONICLE. 



1935 



aggrtgi'.e valae of the ahipoieaia. For all thia the 
public was prepared. Nerertheless there are aotne 
noteworthy features in the reaults, and also at least one 
feature which to thoae who have not followed the 
movement during the progress of the year may come in 
the nature of a surprise. We are referring to the extent 
of the wheit shipments. With the wheat crop small, 
it was inevitable tnut the wheat exports should show a 
further reduction in 1894-95 after a very considerable 
reduction in both 1893-94 and 1892 93. Bat while 
there has been this further reduction, the total of the 
exports is yet quite large— much larger than had been 
•nppoaed likely in view of the very confident predic 
tiona made in certain quarters a year ago that the 
United States (because of the deficiency in yield) would 
be unable to ipire much wheat to the outside world. 

To t>e snre, similar calculations and predictions had 
preraileil the year preceding, only to be disproved by 
events, but the sutementa in 1894 seemed to posaesa 
additional plausibility from the fact that it WM the 
second year in sneoeaaioa that the crop had fallen 
short (the 1893 yield havinff been estimated even 
smaller than the 1894 crop), and that it was everywhere 
admitted that at least the spring>wheat crop had been 
very greatly cut short by the adverse conditions which 
had ruled. There was no qnestion that surplus stocks 
left over from previous crops were large, but notwith- 
standing that fact some persons argued that oor ex 
ports for the fisoal year now closed coald not exceed 75 
to 80 millioQ bushels at the outside. When later, by 
reason of the great disaster to the com crop, the price 
of corn advancetl above that of wheat, and farmers b )• 
gan to feed wheat to stock, the opinion that exports 
must be very small was advanced with still greater 
confidence. 

In spite of all this, the official figures now to han<i 
■how that actually almost 145 million bushels weic 
sent out. We make the total 144,714,146 bushels, 
bMed on the preliminary statements, and this will be 
somewhat increased when the final statements are re 
ceived. In the previous year the exports were 10 1 
million bushels, in 1892-3 192 millions, in 1891-2 a» 
much as 225 million ruahels, showing of course a very 
material falling oft in the shipments during the three 
years. But in ganging the size of the movement these 
years hardly furnish a fair basis of comparison. They 
vere very exceptional, in fact phenomenal, years, the 
«op in 1891 having been of extraordinary propor- 
liODs and the very largest in the country's his- 
tory — estimated by the Agricultural Bureau at (ill 
Million bushels, and by others a great deal higher. 
ThoM years therefore stand by thwrnselves. If we 
•ompare with the years preceding 1892 we find that as 
lost 145 million bushels in 1895 the wheat and 
shipments in 1891 were only 106 million bushels; 
1 18*0, 109 million bushels, and in 1889 but 88 million 
lels. In the tan years from 1882 to 1891 there 
but two yeai% when the total exceeded that for 
i, and in fict in our whole history prior to 1892 it 
sned but five times that the exports were over 
million bushels. In the following table we show 

f wheat and flour shipments' (both separately and 
bined) for each year back to 1874. Taking the 
years covered by this table, thus including the 
I lloeptionally heavy totals of 1892 and 1893, the 
;e exports for the entire perial are found to have 
only 128 million bnshels per year, so that the 
shipments for 1895 at 145 million bnshels are 17 mil- 
I !on bushels in excess of that average. 



QnximTIBS BZPOBTBO. 






1874... 
ISIS... 

lan... 

IN7S... 



ua... 



188S.. 

isss.. 



issr.. 



ISM.. 



i>«t. 



AVf 



biuh. 



BuA. 
7I.«IS.M8 
88,'Vi7.177 
■a.078.l» 

M,s«.«:i 

7S.KM.9ai 

in.3»s,8aa 

1S3.2&8.7S0 
t30.58S,in 

asjTi^ 
iosj9a&.8*» 
70Ma.oi» 

S7,7W.*M 

4&41«.U» 

64487.707 
IS.UIM8 

iaT,tao,4fii 
ii7.isi.ioe 



s 

1-42S 

rist 

I'SM 
I'lM 

i-sas 

1-008 
1-U3 
1-lIS 

riss 

l-lt7 

1-ose 

0-881 
(WTO 
0-800 

o«a 

0-W7 

o-»« 
i-oao 

(TMt 



0*976 



BtU. 
4.a»i.0»t 
S,073,l»l 
3.8aS.3U 

a.a43.os» 

S.BI7.333 
B/im,7U 
«,0U.4l» 
7,8U,78S 
IUIlfi.08a 
9,a06,00t 

o.iaajMO 

10.048446 
8.179.MI 
ll.aiS^440 
ll.»n,S74 
».874Aia 
11,131.711 
n.944.W< 

IS,«iO.SW 



lt.«47.« 



4«> 
Ml. 



« 

ri48 
o-ooi 
o-aos 

0-47» 

o-ass 
A-aas 

S-8W 

B-aaa 
e-i4a 

6-SM 

s-flw 

4-807 
4100 
4-SIO 
4-S70 
4-831 
4-003 
4-tlSS 



4-MS 

••lO* 

s-ass 



TaLWtuat 

and Flour. 



Biuh. 

80,4*13351 
7O.0JO3S3 

7a.7tis.e»i 

U.378,104 
S0,1<I7.M)« 
I47.et)7,»<« 
ISO^Ol.lHO 

iaR3si.su 

1<7.8I13I0 
111381,182 
13113703011 

M3Aa,7sa 

1A3.IMM300 
llS,d«34i 
S8300,74S 
IO0.4»),4OH 
t0rl,l8LSI« 



4-OaO Sl».OOB.«ll 



iei,eiii,osi 

!«4.»43.11» 
t44.71t.ItA 



Biuh. 

3i.4U.aoe 

W3SS.4IW 
4»,4B337« 
70300,063 
80.401.008 
883a03» 
08.100,8?; 
01,008.179 
iS, 184.918 
40,»W.803 
40347,480 
51334.410 
08.090.433 

4o,ao7.ias 
«4.ai8,tn 
ao3w.9ae 

101370.717 
00,704313 
7S.4S134* 
4a,0'l7.«74 
«S,ll9t.fU1 
>;.fl77,14» 



Xv*gt 
vrr 



t 

-710 
-817 

•e7» 

•68T 

-ess 

•471 
-S4S 
■B6S 
-008 

■084 
-Oil 
■S4» 
'49S 
■48* 

•geo 

•47* 
■418 
■874 

■aei 

-584 
■40* 
■590 



* ncoTM (or 1 30) »(• oal^eot to dlslit oorreotloaa. 

It is thus evident that as far as concerns the quantity 
■hipped the showing for the year must be considered 
entirely satisfactory. But when we come to look at 
the prices realized the aspect changes. The average 
price received has been unprecedentedly low, and it is 
on that acoonq^ mainly that the result for the year ia 
poor and nnaatiafactory. On the year'a exports the 
average price has been only a little over 57 cents (57*6) 
per bushel. To show how low this figure is it is not 
neoessary to go back fifteen or twenty years to the 
time when the average was 11 25 per buahel and 
higher. Even as recently aa 1892 the price was above 
a dollar a bushel, the average in 1891-92 (when our ex- 
ports of wheat and flour reached the unparalleled total 
of 2251 million bushels) having been $1*026. Hence 
in the brief space of three years the price has been 
reduced almost one-half. This refers to wheat 
in its native state. The reduction in ^e case 
of flour has been equally striking. For 1894-5 the 
average is only a little over 3^ dollars (13 38) per bar- 
rel, in 1891-2 it was almost five dollars (14 9G) per bar- 
rel. In 1874, the initial year in our table above, the 
average was 17 15 per barrel. As regards the exports 
of corn, the crop failure and the high prices ruling for 
the cereal of course ma'le the shipments very small; 
only 27,677,145 bushels of corn were exported from the 
United States in 1894-5, against 05,324,841 bushels in 
1893-4. The price realised was of course higher, 
being 52-9*oents per bushel, against 46-2 cents. It will 
be observed that the average on corn was within fire cents 
of that on wheat — a very remarkable circumstance. 
VALOn or Bxrovn. 



fMH Tmt 



ISN. 

isn. 
isn. 
isn. 



Whtmt 



I8307i 

ta3Nt3aoi ■4,4as.«ro| •83ta3a», 



*74J03at ti3as3«7 

00371,010 

18>8 1S»,T01.'>TS 

1903*0306 



TWal 



S83HUM ISt3l83SB 
■8.71*340 883*0308 



Otrfk. 



TM,Wtfai 

Com 
M Hour. 



•S,7«0309; 



i«73aa,48t 

11*3*8.718 

iiasniMi 

T83SMI8 



l«BI.. 



«030*.7U 
■8,714381 
ML»41.4*S 
M3H.701 
4S3T6300 
•13*037* 



a8314,l>70 
M3O7,04l 
48300306 



96,006.7*1 m3«r,TS7i 
a).M7,7» l«03S8,T(« 
36333J87 «9537B3a« 
t53«7,«67 SI 9.746,74* 
**3n.C66'lia304,7TS 
*43B4368'l74.7aS300' 
tUa83B* 1*0380374 
I8.18a39«| 1*0370.4** 
*B34*36&| 88,703.070 



* * 

*4.7aB361 1S6.44S304 
a«30«387! 107,777340 

s*3*«3ao|i*o.08i,fl<s 

413(1346 U0,4*0,T64 
483S0iaM 100398306 
40386,1*0*0031*319 
6*3*81947 *70a77,74« 
60,70*300 *0S34a,4U *703S*31S 
8B345390 178J*030s;i8t370318 



Br'<MH/i. 



101498304 
111.45830* 
1*1.181368 
117300.478 
181,777341 
£1036638* 



*834*36« 
613*0.08* 



6t.m.7IO,UL,01S4'8 
48300,4851 88340,180 
67,a8li:iaK 10*31*374 
•4.706,81« 100,1*5388 
183**38t^*8*,r*1.416 
7tk<S4347 U0390317 
*0371.7aa|l»>,078301 



*7,738,aa8 
S7,8t8,0a 
*S,oaB3« 
*i.7*a3** 

18347301 
1S3663*<> 

**3893n 
tt,06a,016 
17369,087 



30*36038* 
16*314,418 



81387,611 



1*03*830* 
10*31*3*4 



*oe.0403(0 
iat,644.71S 
100370.8(1 
196340.668 
100,708,008 



181375.198 187,191.087 
119331,403 1*3.870,001 
144370,080 164.095.99V 



U*)778,57* 



41.980,400 Sn351.8» 



10a,*103M 



90311,164 U838e,05» 

1 4.04a.<i»l llo.nsi.tHo 



198,191,06* 
*00,*8341T 
■003)*.'<54 

mfl,774.S68 
114..-K7307 



* nsuno (or 1890 laUlMt to oUghi eorrooUona 



r«4 



THE CHRONICLE 



[Vol. LXI. 



From the foregoing the groat change which has oc- 
curred the last three years, as the result of the decline 
in prices and the smaller quantities shipped, is 
strikingly revealed. The aggregate value of the 
breadstuffs exports of all kinds is seen to have baen 
only 114 million dollars for 1895, against 166 millions 
for 1894, 200 millions for 1893 and 299 millions for 
1892. We have already referred to the exceptional 
character of the totals in 18D2 and 1893. If we should 
take the years immediately preceding 1892 the com- 
]>ari8on8 would be much more favorable to 1895. 
Thus in 1891 the value of the shipments was only 
128 million dollars. Still it is a noteworthy cir- 
cumstance that the 1895 total is the lowest of 
any year since 1875 — that is, the value of the bread- 
stuffs exports has not been so email before in twenty 
years. 

It remains to say a word ab}ut the destination of 
the wheat exports in the late year. The figures have 
been furnished as yet for only the eleven months to 
May 31. For this period the United Kingdom took 
50,962,049 bushels of wheat against 48,945,845 bushels 
in the corresponding period of 1893-4, and 8,315,530 
bbls. of flour against 9,273,887 bbls. Germany took 
2,478,149 bushels of wheat against 1,599,066 and 
239,199 b^ls. of flour against 260,939. France, on the 
other hand, took only 1,596,791 bushels of wheat 
against 8,669,168 bushels, and the rest of Europe 
12,715,362 bushels against 21,958,829. France re- 
ceives only a trifling amount of flour from 
ns, but to the rest of Europe our shipments 
were only 979,495 bbls. against 1,482,809 bbls. 
Hence the falling off has been mainly in the 
movement to France and Continental Europe and 
not, as might be supposed, in the movement to Great 
Britain. 

So much has been said recently regarding the lirge 
shipments from Russia and other countries that we 
have taken the trouble to compile figures to show the 
importations into Groat Britain during the same period 
of eleven months and the countries from which the 
shipments came. We find that of wheat the;;imports 
were 68,049,339 cwt. in 1894-5 against 61,502,762 cwt. 
in 1893-4, and of flour 17,455,081 cwt. against 18,312,- 
108 cwt. From the United States the flour imports 
were only 14,114,260 cwt. against 15,841,789 cwt., and 
the wheat imports 23,844,721 cwt. against 25^397,516 
cwt. From Eussia, however, the imports^of wheat 
were 17,340,922 cwt. against 12,775,383 cwt.,' and from 
the Argenti- e Republic 12,051,o5S cwt. against 7,819,- 
334 cwt. India furnished only 5,047,785 cwt. agaiast 
6,884,126 cwt. 



SIX MONTHS' LISTINGS ON THE NEW YORK 

STOCK EXCHANGE. 

The new figures added this week to our compilation 
of the 1 stings on the Naw York Stock Etchange 
show that during the first six mmtbs of 1895 the 
total amount of bonds listed was 1199,157,900, and 
the total amount of stocks was $98,092,970-. Tnis 
makes the total listings of b^th stocki and bonds for 
the half year $297,250,870, as against $233,76'),510 for 
the first half of last year and $32r,23l,0fj:3 for the last 
half of 1894. The folio iving table shows the total list- 
ings during the first six mmths of eic'i of the last 
eleven years. Tue classifiiatioi is in aoco-dmoi with 
principles explained in formar articles : "'"'■!]& 



(IX MOITTHS' LIITTHOS OK NEW TORE STOCK EXCRAHOB. 



Bond*. 



Kev it* KM. 



Old itniet Replaeiig 
newly litted. old ateurilitt. 



1896, (6 mos.) 

13S4. do ... 

1898, do ... 

1398, do ... 

1991, do .... 13i,974,700j 

1890, do .... 94,735,250 

1889, do .... 127,627,000J 

1888, do .... 1S2,159,4221 4,192,000 

I 
1887, do .... 94,094,0001 9,'550,000 

1886, CO .... 37,625,000, 27.802,390 

1886, do .... 43,786,0001 9,250,000 

Stocks. I 

1890, (6 moe.) I $56,176,900 $35,135,200 



Total. 



1133.779.000 $14,529,000 $50,819,900 

105,475.0001 713,000 «l,O92,5O0 

84.705,500 42,178,000 29,522,500 

113,896,lOol 8,956,000| 40,011.900 

16,187,000 61,747,000 

2,971,000 27J,810,250 

4,361,000 108,856,000 



1894. do 

1893, do 

1392, do 

1391, do 

1890, do 

1889, do 

1888. do 

1887, do 

1886, do 

1885, 'o 



7,150,000 
56.566,100| 
25,460,10oi 
58,594,441 
70,641,550 
38,993,800| 
34,901,332 
47,446,391 [ 
17,518,3S0| 

9,695.266 



48,374,000 
25,125.250 

10,390,747 

2,820,003 

2,374,275 

30,143,426 

22,'J5 1,300 

2.700,000 



147,474,078 

63,236,000 

13,725,300 

6,567,000 



tl99,157,900 
170,230,500 
116,406,000 
162,894,000 
212,908,700 
368,516,500 
240,844,000 
303,825,500 
156,880,000 
79,152,690 
69,603,000 



$3,780,870 $98,092,970 
66,336,041| 63,486,040 



24,859,800 
68.470,066 



130,299,900 
109,055,403 



82,529,200 141,123,611 

161,103,846 242,196,143 

1 

127,057,874! 168,771,174 

80,566,969 118,316,576 

74,805,333 152,399,150 

1 

88,-26,200J 128,126,830 

35.430.000 47,825.266 



Note— Appltoatioas (or cue listiug of Trust Company rocelpt-s and of 
■eourltie8 marked "assented" (if praaaratory to reorganization), or ot 
seoorlties ataiaped "assumed" or "assessment paid"— the seouritlea 
tliemselves liaving previously been listed —.ire not Included In this table 

It will be noticed that a large proportion of the list-' 
iogs reported so far this year are new issues. The fact 
should be borne iu mind, however, that $62,315,000 of 
United Spates Government bonds are included in the 
total under this classification. L^st year 100 millions 
of Government bonds were listed, 50 millions being in- 
cluded in our total of new issues for the first six 
months aad 50 millions ia the new issues of the last 
half of the year. After deducting the Government se- 
curities the new bond issues listed since the first of 
January amount to but $71,464,000. 

It could hardly have been expected that th^ listings 
of new railroad securities would ba heavy when we 
consider the very smiU amount of new road which has 
baen added of late to th? railroad systems of the coun- 
try. According to the "Railroad Gjzette " only 547 
miles of new track were laid during the last six 
months. A somewhat larger figure, 641 miles, is re- 
ported by the " Riilsvay Age." Daring the first half 
of 1894 the new construction was only about 500 miles, 
and the total for lait year was but 1,919. These fig- 
ures show a very decided falling off since 1887, when 
the new trackage added to our railroads was 12,983 
milep. 1 1 1888 there wo-e 7,066 miles added ; in each 
of the years 1889 and 1890 abiut 5^ thoisand miles 
were reported ; in 1891 and 1892 only about 4^ thous- 
and miles were reported, and for 1893 the new con- 
struction had fallen a? low as 2,828 miles. 

Toe listings of refunding issues, i. e., those replacing 
old securities, show a remarkably sm ill total as com- 
pared with amounts classified under that heading in 
previous years. Ic will bp noticid that the 6 millions 
of stocks is the smallest amouat which we have report- 
ed for any corresponding porioi si ace oir record has 
been kept in this form. Although a numbsr of reor- 
ganizations have been undertaken of late, only a few 
have reached the stage when the securities are ready 
for listing. 

The total listings for each half-year since the begin- 
ning of 1893 are given in the following tables, together 



JULY 30, 1895.] 



THE CHRONICLK 



95 



with the amount of new usuea and refunding issues in- 
cluded in totals. 

Lutnas FKOM jjiUViRx Itr TO jv»* 2»ia, 1899. 

Total Litlingt. Yew It$ittM. Refund, luntt. 

BoDds «19».1S7.1K>0 ♦133.77!'.000 ♦50,849.1(00 

atoekl 98.092.970 56.176,900 8,780.970 

Total »to«kj and boiidi.«397,2M>.S70 9189,95S,900 9>7.630,770 
unnio* raoM jtlt 1 st to obcbmbbb 39tb, 1894. 

Total LMing*. Hne Itnit*.Mtfand._luueji. 



Compani/ and title of toftn — 
South Carolloa J: Ua.^ 1st M. Ss.. 



Amniiiit. Purpose of ittue. 

S,2S0,0<j0.lDcxeh. forSo. Caroliaa 
By. bonds and for r*- 

organ, purpoaas. 
Tanuioal BR. Ass. of St. Louis— 

1st ooasoL 5s 4,500,000. In place of old 2d mort. 



Wabash RR. 1st >L58. 



Bonds «139..V24.100 

SUMks 187,706.963 



f79,91O.0O0 
29,466,253 



•SJ.esfl.soo 

153,410.710 



ToUlsto<ksaadboiids.f3a7,23t,063 9108,776.253 
Limaus rsoM jascabt Ist to jvst SOtb, 
Total Littingt. Srtr luutt. 

- $105,475,000 

7.150,000 



«170,2<M>,5t>0 

Staaka 63,486,010 



• 182,130,211) 
1891. 

Refund. Iraneg. 

<o4,U*.)2..'S00 

56,336.010 



Total *laeksaD4baDds.<23.«,76<,540 •113,625,000 •120,42B, 
usnsos raoit jclt 1st to Dccaiiau SOtb, 1893. 
ro<<ii LitliHfft. \eir Inn**.^ Refiinil. 



i) 



Western N. T. A Pa. l»t K. 5s 

do can. 5L 2-3 Is of 1943. 

do Don-cum Inoome 5s 

Wheollos A Lake Erie, eonsol 48.. 

do exten. and lmp.;s. 

WUkesbatre A Easum 1st M. 5s.. 



800,000.10 exoh. for partof bds. 

due July 1, 1895. 
277,000. Equipment notes, etc. 
1 0,000,000 I In exohauRe for old s»- 
10,000,000 > our.UDderreorg.plan. 
500,000. Imp. and equip. 
30,0C0.In exob torTol. BtltSa. 
3,00 1,030. Bds. of 1392 jast Ust'd. 



Bond* ....tl32,397,t0J 

Bt4>eks 67.945,361 



•54.566.500 
37.178,061 



Itntlftl. 

30.767,300 



Total stocks and boads.«300,34 2,761 •ei.74<.5ei •108.598,200 
Ltmaoa rBoa jaacasr lar to jdkb SOtb, 1893. 

Tote/ £i*liM*. .Vor fnuu. R-fnn-i. IttwM 

Boad* •156,406,000 •<««,705,W0 •««,522.%u0 

Stock* ISO.299,900 56.56i<.l00 2«.So'.i.9i;0 

Total stock* and bond* •286,705,900 •141,371.603 •51,342,300 

With the more favorable industiiAlaad finaneial coa- 
ditioni which preTail at preaeot, it ia probable that 
many of the looj^.pofltponed plans for rehabilitaiioa 
will at last be cirried through, and it may reasonably 
be expected that the amount of refunding is)ae« listed 
dnriog the next six months will bo by no means so in- 
significant. 

.\ll the listings of railroad binds for the last half- 
year are given below, with a brief statamant of the 
pnrpoae of each issne. 

LUTfiroa or aaiLaoAD aoaiia. 



Oompang and lUlt of (mm. 
Bailtaiaro * Oblo 
Balk * Ohio SoMkt 

l*t coaaoL «Ks 

Bait. A Ohio Bo. W. Tar. CO.- 

IstM. loar.Sa 

Italhio A Soaq. let Bort. S*. 

CUaaKo & * Q. Bab. Sxk 4a....^ 

do do CfcL * U. IMt. 5a.. 

Chip. * Row Wast, dabaa. Sa of IMW. 
Chlr * !»0. Wa*t.-Mll. U S. * W. 

axien. aad Imp. S« 

ClOT. Lorala A W. enosol. 1*| M. S. 
Oct.* Marietta UtM. 4>aa. 



AmoomL ^mrpitaflmui. 
•l.MW,MO IB u. for alcr. loaa ixU. 

aaAm>n5Bxeh.t»rold**car. *nd 
•00,000 ; for l«p«0TaiB0«l» 

l,9Q0>M0.BeB4sof/*0i«at lUld. 

leS/MO. AM. foa« oa«»l«ted. 

l.01»/M0.Bstawlaa af road. 

a*aa.<MiA ^ ***■ ^v o""- proo-u 
""^'"^ I tor laproTm'ta, cu-. 

9,000X00. Insprora^m'saod eqnip 



Total RB.b*&d* Smooths •97,933,000 

Of the $11,010,000 of JIanbatUn E'evatel ii listed, 
about 12,085,000 were sold for improTements, and the 
remainder, 18,925,000, listed in June, were issued to 
retire New York Elevated 73 due January 1 190(3 but 
redeemable on January 1 1896 at 105 per cent. The 
Cleveland Lorain A Wheeling eonsol. 53 for $-1,300,000, 
listed in January, are part of an is3ue of 15,000,000, 
and were "used in effecting the consolidation anl in 
the redemption of all outstanding liens of the cansoli- 
daling companies, as provided in the morticage." The 
balance of $700,000 is reserved for the retirement of 
aa eqial amount of Cleveland Tuscarawas Valley & 
Wheeling 7«. The $20,000,000 of bonds listed by the 
Western \ew York & Pdunsyivania were issued in ex- 
change for old securities under the reorganization plan 
which was reviewed incur "IxrBSTORs' Supplbmbxt-" 
of last January. 

The total liatiogs of miscellaneous binds^ including 
Government securities, was $S1,022,900, as follows: 

USTiaOS or mtCBtXAMBOD* BOilDS. 

Otmtfmng m»d Ml* o/ / -an.— Awu>hmI. Putpoto/inut. 

B*Ut« Wkatf * Wareh'sa Isl )I.Sa.tl6,000,000. Acq. water fronr, etc. 



K4II 



lU.ofB'ktjB IstlLSa. 



.f*.. 



■VBBST. A T. n. 1st c»a. M. 

Fla. raa.*Paa. 1st eoas.ra. 

Oraad Rarida * lad. 1st U.**^. 
lU. Cea.. Waal Uaaa 1st M. 4*... 



«,*00,OOO.Bcak tor b4s. of old CO* 

1,310,0(0 latlrtac aM •*. aoafr 

dM.oartr'IsAImp*. 

149,000. naatlac debt. 

902,000. KMtHoasa atlco •Ions. 

],19e,00O.B*faa4la*. 

3,530,0f0.la eieh. tor Dabuqna 

A Sfcrai C-ltjr 5». 

ladlana III. * towa 1st rxi. M. So. ao:>,00O.Bal. la to. BeB<l. ric. 

fat. A rjr. Jlorthara Sd M. 4a. 1I»,000. (MmMc4 9d X. roup. 

Kaatuckr Cootfal 1st M. 4a 91»,000.T»i«ltl«O0T.* Lex. .-.s 

LoBK Island KK. 40 jr. dab So 1,900/MM.Ooaaral liaproreinu. 

Maa. (Eler ) Br. eoaaol. 4* r/M>/IOO.IaiKOT. Aaztaa. 

do Maa. Blev. 4a..... S.»25.000.PorTailr. ». Y. Kl. 7.. 

Max BortbcralslM. aa 1.47«,000.(*MMofl>>90|ii<i listed 

Mlaa. * St, Loot! IM aoaaoL Sa.... S,000.000 Paai da* aoap , to acq 

car. oatstaad'K bds. 
aad tor exp«nM«. 
Waaonl Kaa. * T.of Tax. 1st M.S* 80,000 Bxleaaloa. 

ltl*aaeHK.*T. latM.axua.Sa.. SMMOO.BBtaaatoasIa Ksomm 

Mobile* OMoaaa. M. 4a t,00aMO.rn«a« Oaatln* debt. 

Moalaok Bslaaaloa BR. l*t M. 5*. SOO/IOO.CO** of raa.1. 
>a*k< III* Chat. * ei. L. 1st aoa. Sa 1«3,000. Bstea. • I lO.ooO; r*- 

drmptlona. •43,000. 
3,500,000. Park Am. i.V Y i and 
oiber ImprnTcm't*. 
000,000. RxUo. aad lm|>. 
50,000 . ImproremeD u. 
770.000. Currant llabll. A up. 
9,779.000. Koadlajt fl<nilnK debt. 

, >43,O0O.T*nnlaalsaDd Imp. 

t ■I?"'" * ^■"''"''>'» '•« >'• »•• 1,133.000 Additional road 

• BleUraDdeao. Ist3 isioida*).... ».4t«/>0O.Band*araepUai( 



lU. of y. Y.- 
'L M>>>> .■>>■••■•..•••.*■■ 

EqalLOa* Uot 5.Y. l*t coB*ola S* 
lotailorCoodalt A IasDlat'Bd*b.<a. 



B.Y. A B. J. TalaM- Oo. ■■ 
Poaola'a Oa* U A Oaka o( ChKO.— 

lit anatiil Sa 
V. B. Oardac* 1st M. A coll. tr. 6s. 
LmMbaa. OUta of. aev eoasol*. . . 
U. ■. of Aaartaa u at l*»5 



339,000. Part of pur. CItlz. Eleo. 
111. Co. A Impror. 

1 ,a»7,000. Par. of Man. A Har coa 
300,000. Exterfil 111 < f tiNiit. 
500,000 Belli luic r.'.'nl.oOO of 
*tnck Bod for gener- 
al purporcH. 
850,000. BeU ring prior liens. 

1,950,000. Improvement*. 
249,000 la eich. for old scour. 
111,90). Br fandlng. 
62,315.000. BepleoUblDg of gold ro. 
serrr. 



B. Y. Ocatral A H. R. RB. g. dab. 4a 

B. T. r>ntarlo A Wesura rafnad. 4* 

Worf.ik A fleuthrm 1st M. 5*. 

Xortbero Paoiao raorhrars'otfh... 
Bortbar^PaaiB«ooU.tr. •aef *•«. 
Borlbara Paoi Tar. Co. 1st M. ••,. 



M. L. Alton A T.H. 1st M. A Tar. 5* 

St. (, lr>.n Mt. Aa«. Ark. Br. 8*... 
K(. I./..1.. iviBibara IstM aaaaoLSa 
St I. A M«rakaal* Br. Tatalaai— 

l«ir««r.»a „ 

^M. P.M. A M. lat*«»M«. 4S*of33 



Total MlsceUaoaooa Stata aad 

C. 6. bonds, 6 moatha •84,022,900 

In May the Brooklyn Wharf & Warehouse Oo. 
listed $16,000,000 first mortgage 5 per cent bonds and 
$7,500,000 of stock, iisued for the acquirement of the 
Brooklyn water front from above the Brooklyn Bridge 
to the Erie Bisin ; being total frontage of 14,5G9 feet. 

The street railway bonds include $8,000,000 belong- 
ing to the Metropolitan Traction system of New York, 
Tne Twin City Rapid Transit Co. has listed during 
this year stocks and bonds to the amount of $23,813,- 
200. 

LisTiaas or btbbbt Bviilwat bobo*. 
OompOKff OMd lUtt o) loatt— AtnoutU. Purpote of iuut. 

ColDin. A 9tb are. (V. T.) 1st M. Ss •3,000,000. Bopres'g ooit of road. 
Lag. Are. A Paronla Perry •». T )- 

I*tM.a* 5,000,000. Beprea'g cost of road. 

Twin City Rapid Traaait- 
MlnneapolU 8t Ry. ls( eonsoLSs 4.050.000. Bonds of '89 Just listed. 
at. Paul City By. aabla aoasoLS* 9,480,000 >„ ...... , 

do guaraoteedS* j „(, ,„o{ Bondsof WJiutllslod. 

•oaaida A Brooklyn Bridge Bl.- 

Ist M. 5s 1,365,000 Bonds of '92 Just listed, 

Ueavor CoosoL Tramway— 

IstooiuoL 5s 14.\000.tnaxcb. for prior Ilea*. 

Total street ry. bonds, 6 mo*. ...•17,178,000 

The varions stock issues added to the Stock £x- 

I change list in the past six months are described below 
ander the general heads of Railroad Stocks, Miscel- 
..».,..~ i.r>.». ivrpriur inip. laneons and Street Railway. 



laraepUagredue 
llaa of Interest. 
3.900,000. Pnadlog Hitting ilelit, 

aad ImproT't*. etn 
3.500,000. Rxt. frooi Jane 1. '95. 
903,000.1b exoh. for 2<l M. Ino. 



96 



THE CHRONICLK 



[VOL. LXL 



M1TIN08 or BAILHOAD STOCKS. 

Oompatty and Clou of Sto*k— Amount. Purpote of U$ue. 

B»ll. A O. B. W. preferred 9437,400. In exobange. 

Chle. Qt. WMt«rn 4 p. o. deb. ttk.. S.OOO.OOO.Authorized In 1894 for 

currentllabllitlea and 
Improvements, 
dereland Lorain A V. common... g.OOO.OOO.Old stock Just lUted. 
do preferred. 0,000,000 do do 

ChSeaco H. A St. P. preferred laS.OOO.Exob. for convert, bds. 

BransvUleft T. H. preferred 1,284,000. In exchange for Kv ans- 

vllle A Rich, bonds. 
Indiana Illinois tt Iowa oomroon.. 3,597,900. Old stock fust listed. 
Louisville K. A. * Chlo. preferred. l,750,OOO.Equlp. and Iraprove'ta. 
MauhatUn El. Ry. <N. Y.) com ... 108,020.Inexoh.forMet.El.stk. 
Mlnneaiwlls A St. Louis Ist pref .. S,500,00J.For assess, on old stka. 
do 2d pret... 4,000,000 ) In exchange for old 

,lo common . 6,000,000 > common and pref. 

V. T. Cent. * n. R. RR. common.. 4,571,700.Improvement8. 
V. Y. Busq. A Western new oom... 317,200 ) In exchange for old 

do new pref... 2.900 > securities, 

rhlla. A Reading eommon 76,000. Oonvcralon of prefer- 

ence bonds. 
Weatwn N. Y. A Pa. stock tr. ctf s. 5,000,000. Representing new stk 

held In voting tmst. 

Total RR. stocks, 6 months ...$44,810,020 

USTINOS or MISOKLLINEOCS STOCKS. 
Omnpanf and elau Of ttock— Amount. Parpoie of Loan. 

American Tobaoeo common $17,900,000. Old stock Just listed 

B'klyn Wharf A Wareh'se, com 5,000,000 ^ 

do pref. A.. 2,500,000 > Original stock, 

do pref. B.. 6,000,000* 

C«n.CoalACokeof Kan.Citjr, eom. 1,500,000 > Original stock dated 

Do do eum. 5 p. c. pref. 1,500,000 i 1393. 

adlsonBleo. 111. ot B'klrnoom.... 750,000. Part of purchase of 

Citizens' Eleo. Hi. Co. 
and for improvem'ts. 

V. 8. Cerclage common > 711,150) In exchange for Natl. 

do prefeired 440,500' Cordage stock. 

$36,301,650 
West Side Bank (N. Y.) 200,000. Capital. 

T»U1 mis. and bk. stks., 6mos. $35,501,650 

usTtMas or stkbet kailwat stocks. 
Company and class of tloek— Amount. Purpose of Issue. 

Third Avenue BR. (N. Y.) $l,600,000.Completion of cable A 

for floating debt. 
( Purchase of securities 
Twin City R. T. cum,7 p. o. prof... 1,135,200 I of Minn. A St. Paul 

do oommon 16,010,000| Bt. Ry. securities for 

I float, dbt. A Improv. 

Total St. Ry. stocks, 6 mos $17,745,200 



PHYSICAL CONDITION OF RAILROADS. 

Oar readers will be interested ia the following letter 
received by us from Mr. Joseph 0. Osgood, Consulting 
Engineer, regarding the life of rails and the efFect 
thereon of heayy locomotives. His figures show clearly 
that we were well within conservative limits in our esti- 
mate last week as to the number of tons of rails that 
•hould be renewed yearly per mile of road. 

New York, July 13, 1895. 
Editor of the Commercial and Financial Chronicle : 

Dear Sir— As indicated by my letter to the William B. 
Dana Company of March 11th last, I appreciate your excellent 
seriea of articles on the physical condition of railroads. 
. The subject is a very important one, and there ia at present 
too little information at hand in regard to it. Referring to 
the life of rails, I have for some years past assumed, as the 
result of observation and inquiry, that on roads of moderate 
traiSc about five tons per mile of main track, or of road, were 
required annually for average renewals. 

Last spring, in compiling some figures on this general sub- 
ject, I made some calculations from data in ^' Poor's Manual" 
tor various years and from the " Mineral Industry" for 1893 
to determine in a broad way the annual consumption for the 
United States per mile of track and road. 

After reading your article in to-day's issue it occurs to me 
that the figures may interest you, and I g-ive theip below: 

RAIL BR:tKWALS IK TBB U. S. 

Ions. 
CoDBumption of rails 1849-1892 inclusive (44 years). .35,196,619 
Length of main track and sidings in 1893..221,629 mis. 

'* '* ** 1848 ) 

•.986ml8. reported, plus 15 p.c. for sid'gsf ^'^'^ " 

Total additions to mileage 214,734 " 

AsBumingan average of 100 tons per mile 21,473,400 

Leaving for renewals 13 733 319 



The average mileage for the 44 years was 69,912 miles of 
main line. Adding 25 per cent for sidings gives total of 
87,890 miles. ^3,728,219 _ jg,j, ^^^^ ^^^j^ j^^ renewals. 

87,390 
If we neglect the depreciation existing in 1848 and assume 
that the rails as a whole in 1892 bad lost one-fourth of their 

life by use, — tons must be added to the allowance 

4 
for renewals. This equals 5,368,350 tons, and divided by 
87,890 equals 61*4 tons per mile. 

— — _ 4'96 tons per year per mile of all tracks. As- 

44 
Buming that the sidings and second tracks are 25 per cent of 
the length of main line, 6 '2 tons per mile of road per year 
would be required for renewals. 

The assumptions made above are made on a basis which 
would indicate that the average renewals would be more 
likely to exceed than to fall below the figures arrived at ; but 
I am inclined to think that these last are not far from the 
truth. 

Owing to greatly increased tonnage, and especially to the 
enormous increase in the weight on engine driving wheels, 
the wear of rails per mile of road has of late years been rap- 
idly increasing. Harder steel will doubtless check this to 
some extent, and the importance of the item of rail renewals 
ia growing less with the fall in prices; but the item will 
always be an important one. 

Ties as well as rails are somewhat afifected by the intensity 
of traffic, but not to nearly the same extent, although 
usually classed as independent of such conditions. 

On roads of light traffic and earnings they are allowed to 
remain in the track much longer than on roads of large traffic, 
where a good track is more important. The result is that, 
while maintaining ordinary conditions of road-bed, the road 
of small traffic spends less money per mile for this than the 
other. 

Yours truly, 

Jos, O. OsaoOD. 



RAILROAD NET EARNINGS FOR MAY. 

As the returns list year grew worje each month, so 
this year they are growing better every month. In 
May, particularly, the results in 189i had been very 
poor. In fact, in reviewing the statement at that tima 
we remarked that it was the most unfavorable that we 
had been obliged to chronicle, and that there wa^ 
scarcely a redeeming feature in it, the showing being 
almost uniformly bad. 

The poor exhibit last year followed ivs the result of a 
remarkable combination of unfavorable circumstances 
and conditions. Trade depression, l,%rge gold exports 
and tariff uncertainties had baen disturbing factors for 
a long time. To these were added in May 1894 the 
great strike of the bituminous coal miners, stopping 
the shipments of coal, paralyzing the iron trade, and 
by cutting off the supply of fuel compelling manu- 
facturing establishments in various parts of the coun 
try to close up. Tiien railroad rates were badly de- 
moralized in both the West and South, and there were 
extensive floods both in the East (that ia in Pennsyl- 
vania and adjoining States) and on the North Pacific 
Coast. 

The effect of these conditions was reflected in a loss 
in gross and net alike by every leading group outside 
of the Mexican, and by an aggregate loss of 111,935,- 
834 or 19-51 per cent in gross and of 16,253,373 or 
33*79 per cent in the net. It is natural that the re- 
covery the present year, though falling far short of the 
previous year's loss, should yet be somewhat propor- 
tioned to it. Hence it is not surprising to find that in 
amount and ratio of gain the exhibit is the best we 
have yet had in the present upward movement. In 
the gross the increase is $3,476,874 or 6*95 per cent, in 
net $3,809,965 or 21-79 per cent. How much better 



JULT 20. 1895.] 



THE CHKONICLK 



97 



this U than in the monthB preceding appears from the 
fact that for the five months to May 31 the gain is oaly 
$8,222,657 or 3 37 per cent in gross and only $6,064,- 
089 or 9-37 per cent in ntt. 







Jmumn I M Mat ^1. 

(137 road*.) 




«* 


ISM. 


tnerwoM. 


laas. 


18M. 


Iitenate. 


• 

OroMMni'i tHUtja 


* 

tt.itajtn 


t 
MMO» 


« 

»«.U0.7St 


t 

«M.so«,au 

17»,IM.«0« 


* 

Sl«»,esr 


XMwral 


U.70>).«80 


IM0O.TUI 


MMUM» 


n.im,i» 


64.73I.MI 


«,0«l.oeiO 



Qeneral conditions the present year were of coarse 
mach better than they were last year. There were no 
gold exports, the Treasury condition was much stronger, 
and basiness kept steadily reriring and expanding. 
The Western conatry, however, still suffered from the 
effects of last season's crop shortage. In the following 
we compare the results for May and the fire months for 
a series of years. 




M.t S.«» «T.«tMM' ■^•.MO.M* 

ia,nojm» tft^a^ni -ijmMn 

«.ai4^a»t -K.7(B,-«: 
k-ii.»n.«M 




ii.tlvvx lumj 



i«.nu»ii vtjmtMt -«M.->M 

• 
• Ma^ii* 
-«jRSbX*a 
•-MTi.a» 



7a.MMa» MLfu.**!' ^*jm,»9 



It is almost needless to say that we hare some rery 
Urge amonnts of gain, though not equal to last year's 
losses. The PennsyUanis naturally leads, baring tl, 
>' '.765 increase (Eastern and Western lines combined) 
111 ^rocs and $662,397 increase in ne*. Last year the 
road lost $2,904,188 in gross and $1,685,595 in net. 
Other large gai OS in gross are $262,011 by the Chesa- 
peake & Ohio, $223,962 by the Illinois Centra!, $289,- 
$84 by the Baltimore & Ohio, and $195,724 by the Hrie, 
&c., &e. In the net we hare $287,124 increase by the 
Union Pacific, $203,771 by the Illinois Central, $17^,- 
896 by the Reading, $150,256 by the Atchison, &c. In 
the following we show all gains down to $30,000 in 
•mount and also all iMses down to the same amount. 
The latter are not rery numerous, comprising in the 
net only the Soathern Pacific and the Central of 
Georgia. In the gross the list of losses is somewhat 
more exteniire, embracing 9 systems altogether, but 
these are either anthracite coal roads, which have 
■affered from the poor oonditioh of the anthracite 
trade, grain-carrying roads which are still suffering 
from last year's poor crops, or Southern roads which 
luiTe had their traffic reduced by the failure of the 
onoge crop in Florida 



nuxcvAL cBAaosa tm C)K< 



BAan»M or MAT. 



S*aM 

OMai 
IWimt 



lB«'r»«««». 



iMTlTtnU (3 I'd*)* 



Ohlo i2 r'd* 
prake A Oblo. 




K'Mii. .» niw. 
PwilHo 



Sallwkr 

Cmtnti 

T. * Praa... 

._7Tall«T 

ACMtara .... 

latoraatlonal 

Oca a Oair. 
- 1* * MaohTill* 
■tl* A WMlcrn 



jytmpom OB 
lMs«»ft.a«e. 



«i.4oe.7eo 
sse,«d4 

MS.011 
tfls.a«s 

iM.nt 

1«9.6»1 
181.4M 
ia«,SS4 
l31.a4S 
ItS^S 

<n.4S7 

•i.aos 
sa.s«s 

si.Tn 

ft8.S0S 
38.550 



Baaxor * Ar«o*(aok.. 
Ckaa. OhloASonUWa 
WaM. Va. CMt.* Pitta. 



SM.AU 
32,241 
81,1>«3 



Total (raprtaaattac 
t7taad» «3.82S,9O0 

Pbll.* BMa.Ba40.*L ' 
Unloa Paa«1l« (8 I'd*). 
Cbl«^ MIL * St. Paal.. 
V. Y. OdL a Waaiara. 
Kao. C. n. a. * Hmt. 
Saallwira Pae. (S r*)!*). 
CUa, Bart. A OHtlaor.. 
Jaak-Tam. 4kK.Waat. 
•aaunlt Br. Lfk. Tal.. 



(rapnaai , 

SIraada) «78i,S74 

•S8«,1M aa4 oa Wntera 




PKIXCIPAL CHAKOES tX NET BASXtllOS IX mAT. 



Iaer«a*es. 

Pennsrl'^ail^ (3 r°d«)t $662,397 

UDlODPaciaa(6r'd8). 287,124 

IlUnota Central 203,771 

Pllil.ARead.anlC.<kI. 178.396 

Atch. T.AaF«.(3r'da) 150,256 

Nonhern Pacitto 137,695 

Bait * Ohio (2 r'(l«).. 130,305 

Cheaapeake A Oblo... 112,229 

Oblo. HU. A St. Paul.. 107.317 

Wabaab 105,525 

Vexloan Central 76,528 

Chic. Burl. * Qulnoy.. 70,183 

N. Y. L. E A We»t ... 6-',733 

AUe«b«Dy Valley 61,616 

Cent, of New Jeraar.. 59.924 

Paorta A Eaalem SS.'177 



Inrrpasea. 

Buffalo Koch. Jc Pitts. $19,107 

Southern Railway 45,023 

Northern Central. a7,667 

Mexlcin tntornatlonat 34,221 

West N. Y. A Poun... 33,857 

Canadian Faolllo 31,111 



Total (representing 

33 road 4) $2,700,261 

Decroaae*. 
Southern Pac. (6 r'dti). $39,673 
Central of Ueorgla 32,186 



Total (reprosontlnK 
7 roada) 



$71,899 



< The net Inoreaaed $378,119 on Baatem llnea and $384,278 on Wea^ 
em Uoea. 

As last year every group, barring the Mexican, 
showed a decrease, this year every group records an in- 
crease, though this applies simply to the net In the 
gross there is a small falling off in the Picific group, 
and in the anthracite and Northwestern groups. 



SaiTnoaoa 
Gbocp. 



ftwaJta 



UM. 




8 

i«js«e.4« 

e.l87A4l 

3,7M.W4 
t.W1.9M 
4.7«K^U 



t.4S8,«n 



Trantllaaa fit) 
4atkia.aoal.IT) 

■Mt.AMId.(I3l 
Mid. Waafn-iM 
llanh««fs..(7> 

'wlAt! 
IT) 

(♦> 

Ti)t..(Utr'<lal U.Ml,S*8i 

/aa. 1 la Mat .11 

rxuaun«>-iii ;it.isi.iM 
4atara.aaal.tT 1 1 14.(07.1M 
■mi. a MM.( U< I tMllTO 

Mta. WaM-BJssi iSi«a,7M 
HartkwaM'a.rn' n^lMJH 
'-a>,M7 

1 17.01* 

1... ....Tia,*!* 

(41 T.oai.ti* 



UpC (UTr'dal t.<«.l»(|,7M'»4il.»aa.«8a 



MM. 

8~ 

UJ47.8U 

l,MT.«et 

a,n7.«TS 

M»8.«T« 

«.»iass7 

SliaMM 
MI«,H8 

i.aS4.»»« 



KUOMJtUt 



njsui* 



iajM|,SM 

sa.iuit8i 
tr,oi«kiss 

■JMM8S 



At 



18M. 



S 

(,0;8,M8 
UW4t3 

U01.038 
I.MB,1I7 
1.II9.SU 
t,7074IO 

a47,SM 



l*,7IM,MI> 



t.«l«.«U 
SMT.SSB 
MOSiTU 
aTWMI 
M*8,ll< 
ILSDUSI 

T.wrjsts 

ao<i,185 



T8.T8MSW 



s 

4.«a,W3 
1,118,8m 

787 JW 
l,n«,t78 

9«8,B8» 
t,tM.Mi 
1.I6«,4III 



lt,M0.7ia 

i8.an.7M 
t.Ma.iM 
s.MLaaft 
4.sat.V4 

•,801,818 

«,T«S,«7S 

i<>,8ti,:»> 
8J0«,e80 

8,418.186 



84WI.481 



Int. vt Dm. 



■ft.<)61,MS 
+ITI,«87 
4tI4.Bls' 

+IT(l,gt» 
•f 181 ,331 
440734» 

-i-i;t>,oiie 

■1-111.1*0 



+t,8a0,8«ft 

+l<lf,48i 
■»'1,UB,86<! 
+8Si»80» 
4888,137 
-H1.8Bt 
4746,541 
47l4.e<l 
-80T.I 
48l(|,870 



■« 8,884.088 



P.O 

88-18 

15-88 

88-13 

38-87 

10-48 

18-88 

17^4 

U-48 

»lt 

81-78 

14-88 
88-84 
1818 

tm. 

»M 
I5-fS 
8TT 
T-tt 
8»-88 

8«T 



■ora.— UWLVDBD miitaA nta bbao op— 



IVMk 




lofOMa. lad. OLA Iowa. 



>.WaM«f Oito. 



.ita'. AMU. 

aneA <«•«'■. 

Wmiof Pii4a. A Sna.1 
Pitta. Toaaaa. A Aaa. 



CmI Alraa. 



^KLu. 



tafaaaa 




laaftaad Taliaf . 

■mTm.AWiU 

MorUMra^atrai. 
MnarOovaACMt. 
OI*i« A Datowara. 



raai ga jid . 
■hla-AWM 



Chla. A WaM Mien. 
Cla.Ja«k.A Mack. 
(In. Porta. A Virainta. 
<3aTaiaad AkraaAOol. 
riaT.Oaaloa A Saalb'a. 



_- . Laao. A_ 
niat A Par* Marq. 



ad. OLA Iowa, 
tfoo M&llvar. 
Kanawha * Miehlma. 
i.aka Brla All. A do. 
taa* Wt» A Waatom. 
lyiQiaT. EraaaT. 4 44. L. 
U<al«T. H. A. A CBIe. 
Manlaciaaa. 
Pttto. Mar. A CklOMo.t 
' A Bar. 

T A St I/oala. 

Jt.U Alt.AT. a. 
foL A. 4. A H. M. 
Mate A Ohio Ooottal. 
TM. Paofia A W. 

lV«il>mHi»a. 
Barl. radar Hm. f Nor. 
GUa. Ban. A HMtA. 
(Ma. pari. A Ifalaor. 
eiita.EuA8t.PBaL 
lowaCootrBl 
iba. A 8t.Xoal*. 
St. Pool Abolath. 

A n i fh ipti * »ni. 
Artanaaa Midiaad. 
Aua. Top. A Honta Pa. 
■•t. Ixxiia A !lail Krao. 
AUaaileAPaoiaa. 
Aaatin A Xo'voat. 
Crrital. 

Daavar A Rio Or. 
n. Worth A Bio Or. 
llooaloa a. A W. Tasaa. 
■an. C. Pt. 8. A Man. 
n:a Uraoda Boathom. 
San Ant. A 4. Paaa. 
MlT*rton.t 

Da. Pao. DaaT. A Oolt. 
Woau A Ro'waMani. 

PaiM* r ' 
Qaaodtta PMI 

wirtnam Paait 

Oraaoa lBar»ram*ni Co. 
Rio Onuada Waatorn. 
Sao. Pma. A NorU. Pae. 



|Sa,Paal8e.— . 
^al. Bar. SA A. 

tnola. WaaCortk 
Mornn-i La. * T.? 

S. y. Tai. A Max. 

Taxw A Naw Orlaaaa' 

Paeiao draiaai. 
Union Paoiaa— D. P. Rr. 

Or*. 8h. L. A Ulan Nur. 

m.Jnaaph aor. lalaad. 

Kan. nir A Omaha. 

C«ntrHl ttranch. 
Atoh'n >'.il.4l>ae.,Aa 
.loufArm Hon40. 
Allan'a A Watt PolDt. 
Ilr. a AUantlo. 
WolliU MMIaad. 
VninU of Oaorala. 
'TbaraT A Uorlinctoa. 

^haaapaak* A i>hlo. 

:b*«. Ohio 4 i4outbwaaU 

tn. 4 Kan. rioathani.f 

jadada n A Alula Da. 

la. SoalharB A Pla. 
lair 4 Chloaaok 
•ok. Tampa A K. W. 
Ua. CIIT Mam. A Blr. 

AiaUTUIaA Naahrilla. 
>>al>. 41. Ix>ali A Tax. 
daoun A Blrmtoaham. 
«aaii. Chat. A m. Loola. 
Naw Orloaaa A Bo. 
r>klo Hlrar. 
Oblo KlTcr A Charlaa.t 
Patarahara. 
KIcb. Pr«d. A Pot. 
Hioh. A Patarvbont. 
4aT. Am. A Moot. 
Soathern K«llwar 
WaaK'ii of Alabama. 
W««t Va.C. A P. 
Wriaht«T. A TODnltla. 

MnAotn Raooa 
tlaziean Ooatrai. 
Malloan Intarnatlooai 
Maxieaa Natlooal. 
Mazloan Nortbaro. 

t Watatfad* tbaaa Wartara Unaa la oar labia br Ukln* an eiUaiata for 1884 
oa arklM to baoa laa tamoM or iIictium roportad for taia rear. 
f Vor aoath oalr. 

The ratio of improvement in net in the differ* 
ent groups varies from 10*48 per cent in the North- 
western group to 68-13 per cent in the Bastern 
and Middle group. In the trunk-line group there is 
only one road which shows a decrease in gross, and 
only one which has a decrease in net. In the anthra- 
cite group 3 roads out of 7 have decreases in gross 
and 4 decreases in net ; in the Eastern and Middle 
group only 2 roads out of 15 have decreases in gross, 
bat 6 deoreaaes in net. In the Middle Western section 



98 



THE ('HRONICLK 



rVoL. LXL 



3 ou- of 26 baye lost in gross, 10 in net; in the North- 
weitern sectioi 4 out of 7 fall behind in gross and 2 in 
net; in the Southwestern 3 out of 15 have sufiEircd de- 
creues in gross, 5 in net ; in the SjatUera group 8 out 
of 29 have susoained a cjntractioa m gross, 11 a loss in 
net. In the Picifij group 10 out of 17 have decreases 
in gross, i decreases in net. 



IMPORTS, EXPORTS AND IMMIGRATION 
FOR JUNE. 
The Bureau of Sta'Utics has issued a detailed statement of 
the foreign coiumerce and immigratioa of the country for the 
month of June, 1895 and 1894, and for the twelve months 
ending June 80, in 1891-9o and 1893-94, as follows : 

MERCBilNDllB. 

June. 12 mot. eyid June 30. 

1S81-95.— Exports-Domestlo #83,h;8.512 $793,553,018 

Fortlgn. 1,224,414 14,140,243 



Total *55,102.926 

Import*— Free of duly $30,745,705 

Dutiable 30,657,919 



Total «61, 403,624 



BzoMiof export*. 

Kxcewof Imports $6,300,698 

1893-94.— Kxporta—Domestio $55,655,57 1 

Foreign 1,847,416 

Total $57,502,987 

' Import*— Free of duty $29,899,290 

Datlable 21,379,520 

•n>U\ $51,278,810 

SzOMS of cxporU $8,224,177 

OOLD 0O» A.in> BULLION. 
18»4-»8.-Exportt $131,641 

luiporU 2,093,3 il 

■ iceeuof exports 

Exoeuof Imparts $1,963,750 

1893-94.— Exports $23,280,220 

Imports 903,348 

■zeesaof exporu $22,376,872 

^^~ OOLD m ORE. 
1804-98.- Exports 



$807,693,261 

$^♦•3,230,927 

368,719,392 

$731,960,319 

$75,732,942 



$869,0»8,1S8 
22,849,551 



$b9 1,907,709 

$372,5?5,931 

275,199,086 



$617,775,017 
$244,132,692 



$66,131,183 
35,146,734 



$30,984,449 



Imports 

Xxeess of imports . . 

1893-94.- Exporu , 

Imports. 

XzMM of Imports ., 



30,340 



$89,310 

'sbVsog 



$76,17^,001 
72,419,lla 

4,528,942 



$333,391 
1,114,479 

$781,088 
$17,069 
540,444 



$30,309 

8ILTEB COM ASD BULLION. 
1894-85.— Export* $4,087,136 



Imports . 



939.457 

SzoMsot exporta $3,147,679 

1883-94.— Exporu $3,382,044 

JatU Imporu 775,603 

► 'jpj 

Xxeestof exporu $2,606,441 

8ILTBB M OBE. 

1894-95.- Exporu. ^ 

Imports $1,071,859 

Kxeess of imiiorU. $1,071,859 

1898-94.— ExporM a$l,500 

Imporu 424,593 

Bzaeis of Imporu $423,093 

IMXIOBATION. 



$523,373 



$47,226,612 
9,518,928 



$37,707,684 

$50,451,265 

13,-486,552 



$37,164,713 



$32,767 
10,668,051 



$10,635,234 
a$215,794 
6,679,161 



1884-99.- Males ... 
.Famales. 



Tatal 

iS93-94.-Hales.... 
Females. 



Number, 
19,577 
13,988 

33,565 

12,759 
10,625 



$6,463,367 

yumber. 
157,270 
118,866 



276,136 

184,006 
127,606 



Total , 

a. Gold aid sliver. 



23,384 



311,612 



IMPORTS AND EXPORTS OF GOLD AND 
^ SILVER AT SAN FRANCISCO. 

The Collector of Customs at San Francisco has furnished 
VM this week the details of imports and exports of gold and 
•liver throagh that port fcr the month of June, and they 
are presented below, together with the figtires for the pre- 
ceding months, thus completing the results for the fiscal 
year 1894-95. The imports of gold were heavier than in any 
month since October, 1893, the amount received reaching 
1001,091, of which $488,984 was in coin; and of silver there 
CMae in only |107,824, of which |74,880 was bullion. There 
haa been received during the twelve months a total of 
11,873,467 gold and $2,047,171 sUver, which compares with 



.$3,698,636 gold and $3,127,060 silver in 1893-94. The ship- 
ments of gold during June reached $56,061, all coia, aad the 
exports of silver have been $311,131 coin an<l $491,400 
bollion. For the twelva months the exports of gold have 
b68!l $708,293. against $1,203,443 in 1893-91. an 1 S13.B14,012 
silver has been sont out, against $13,142,367 in 1893-94. The 
exhibit for June and the twelve months is a follows : 

mPOBT." OK OOLD A!fD SILVKR AT SAN IfRANCISCO 



■QBTBS. 



1894-95. 

July 

A.ll«iut.. 

September 

Uolober. . 

Jforember. 

Dacember. 

January... 

February.. 

Marsh 

April 

M»7 , 

Jane ! 



GOLD. 



Coin. Bullion ' Total. 



6,133 

40,190 

13,082 

498,343 

»,269 
40,819 
37,1S8 

1.317) 

9,9a6l 

5 ',015 

10,334 

488,984 



42,243 
43.579 
2<,578 
09,132 
02,281 
60,786 
45,090 
2 sofcO 
33,741 
50,9«4 ' 
83,554 
112,107 



$ I 
48,376 
83,769 
42,«60 

507,475 
70,550 

101,105 
82,884 
26,<J03 
43,';37 

110,479 
93,938 

6J1,091 



rLI2mos|l,2'5,220 668.247'l,873.467 



SILVBB, 



Coin. I SullioH. Total. 



$ 
47,9.56 
227,130 

11,758 

136,282 

36,8071 

2.446 

6,893 

1,502 

990 : 

257,696 

11,348 

32,''94 



96.701 

99,310 

60,120 

126,911 

122,731 

109.603 

136,592 

lin.407 

116,633 

111,093 

117,378 

74,830 



773,80: 1,273,309 2,047,171 



144,657 
320,440 
71,878 
263,193 
159,538 
112,109 
143,485 
102,909 
117,623 
368,789 
128,726 
107,824 



EXPORTS OP OOLD AND SILVER CROH SAN FRANCIS 30. 



MOUTHS. 



1894-95. 

July 

A.iuca8t... 

September 

October. 

November. 

Deoember. 

January . . 

February.. 

Mareh 

April 

May 

Jtine 



T\. 12 mos 



GOLD. 



Ooin. Bull'n 



61,235 

73,665 

64,775 

31,547 

164,635 

162,772 

53,545 

3,075 

10,1 21 

17,'.i3 1 

7,493 

56,064 



706,458 1,635 



850 
660 
105 

200 



20 



Total. 

61,235 

73,665 

61,775 

32,397 

165,2:!5 

lb2,877 

53,545 

3,S75 

10,121 

17,031 

8,013 

56,064 



Ooin. I Bullion. 



Total. 



4l7,601i 
575,763 
808.130 
507,972, 
467,538 
372.432 
112,16(1, 
86,674 
88,862 1 
410,218 
341,14!5| 
311,133 



$ 
681,070 
747,800 
436,100 
824,800; 
969,000 
534,20.. 
764,700 
4 "3, 500 i 
,374,'iO0 
914,020 
771,193 
491,4 1(1 



$ 

1,0W.671 

1.323,.i03 

1,244,230 

1,332,772 

1.437,139 

906.632 

876,860 

490,174 

1,462,862 

1,324,2^8 

1,112,319 

802,533 



70a,2'*3| 4,499.629 8,814,3.«3 1.3,314,012 



[From our own oorrespondent.! 

London, Saturday, July 6, 1893. 

Money, if anything, is rather easier than last week, and it 
will probably be easier still in a few diys. This is leading to 
an improvement in trade and is stimulatins; speculation in 
every direction. 

On Wednesday a Chinese Imperial Customs loan bearing 6 
per cent interest and amounting to a million sterling was 
offered for subscription here, the minimum prica being 108 . 
The loan was arranged for during the war for the purpose of 
paying for ships and guns, and preparatians were m ide three 
or four mo3ths ago to bring it out, it was understood at the 
time, at the price of 95, A hitch occurred, however, and the 
issue was delayed till now. It has been a very great success, 
having been covered in the course of a very few niiautes 
after the opening, and the scrip has been dealt in on the Stock 
Exchange at from 3 to 3)^ premium. 

After very protracted negotiations, which several times 
threatened to break down altogether, the Russian and French 
governments have succeeded in concluding the arrangement 
for the long-talked-of Russo-Chinese low. The Cuinese Gov- 
ernment, however, has refused to accept a Russian guarantee, 
and in the contract signed at Pekin there is no mention of 
such a guarantee. The loan is secured on the Customs reve- 
nue, ranking immediately after existing charges. The 
French bankers, though, are given a guarantee by Russia, so 
that French investors have not only the security of the 
Chinese Customs revenue but the guarantee of the Russian 
Government also. How the Russian guarantee is to be paid 
for is not known. As China has repudiated the guarantee, 
people are asking whether she gives anything for Russia's 
help. On the other hand, it is thought incredible that Russia 
would guarantee 16 millions sterling to China unless she got 
a full equivalent of some kind. 

The long uncertainty abaut the loan hw naturally de- 
pressed the silver market, The price flutuited during the I 
week around 30}^d. per ounce. But holders of silver are 
very confident that when the loan is placed by and by it will 
lead to large purchases of the metal. In the meantime thare 
ia very little demand for silver, either for Chia» or lodia. 
Still, the India Council is selling its drafts fairly well. It 
disposed of the whole 60 lakhs offered on Wednesday af 
Is. 1 7-32d. per rupee, which is somewhat better than the 
rice obtained a week ago. 



JlLY 20, 1895.1 



THE ( HRONICI.K. 



99 



\ 



There ia a very mach better feelioK here in commercial cir- 
olec; ecpeciallf the woolen manufacturiog industry is active. 
The buying for the United Slates is very large, and there is a 
good demand likewise for the Continent and for the Colonies. 
On Tuesday a aeries of Colmial wool sales began and thtre 
has been a rise compared with the last auctions of from 3 to 
71^ per cent in merino wool and of from 10 to 15 per cent in 
crosa-bred wools, the coarser descriptions Ixiog particuliily in 
demand. It will be recrllecled that there was some ri«e at 
the last sale», and it is hoped, thorefore, that the turn has come 
and that now there will be a steady advance. Still, the price 
of woc'l is lower than it was in November, but it is decidedly 
higher than at the beginning of the year. If the expectation 
is fuUill'il the benefit to the Australasian Colonies and to 
Argentina will be very great, a rise of a penny in the lb. )>e- 
ing estimated to increase the receipts of the Australasian Col- 
onics by about 3 millions sterling. Unfortunately tbeooadition 
at tb* reoonstrncted Australasian b*nks, mortfpage and 
finaroe compttcif s is checking business in the Colooie*. The 
negotiations for reducing the interest upon the depotits are 
going on satisfactorily. In two or three caws the proposals 
have been accepted both here and in the Colonies. In other 
iostancf s committers have been appointed to inqoire into all 
die circumstances. 

With the exception of the Soath African department, busi- 
Bcas baa been rather slack upon the Stock Exchange ihia 
week. There oootioaea lo he a fair investment in good 
Aaiericaa bonds, bat the ganeral public is holding aloof from 
the share market snd even professional operators are doubt- 
ful, their operations being checked by the high sterling ex- 
change. The general publx is di«<]uiet«d by the apprehen- 
sion of gold abipmeols from New York. The silver agitatioo 
ia being watched here with great keennaas. As far as can be 
judged at Ibis diataac* the Silver Psrty seems to be lotiog 
ground. If that turns oat to be the case there will, no doubt, 
be a very ooasiderable increase in the demand for Aineriota 
securitit*. But while uocrrtaioiy continue* a very large 
borinrai is hardly to be expected. Everything in the msrket 
bar* tarns upon the currency qnaatioo. 

Intemationil markets are fairly well supported by Tari* 
and Berlin, but there is liMle doing bent except in Argentine, 
Biazilian and Chilian stocks. In Argentina the signs sre 
accumulating of a marked improvement. The railway iraffic 
returns are tnciaaai n g week by week, and all the reports re- 
oeircd bar* state that the political outlook i* alao good. lo 
BraiU a cesMtioa of boMilities between the Central Govern- 
mtet and the iosurgenu in the proviaoa of Rio Orand* do Sol 
ha* been arrangwl, and straog bopaa are MttftaiiMd that a 
paeifloaetilaoMnt will b« arrived at. 

The riae io conaols oootinoea. They have reacbi d this 
wfek 107'^, and it U freely predicUd in the market that they 
will go to no. Indian sterliog 8 per ceoU are at the came 
quotation. Colonial stocks generally have adranoed, and there 
baa been a marked rise in British monicipal stocks and in 
gas and water stocks, sspccially in the latter, the Committee 
of the House of Ooounons, which was inquiring into the bill 
for permitting the purchase of the water companies by the 
London Common Council, having diMolred witliout framing 
any report. 

Almost the whole interest io the Stock Exchange has been 
oenlred during the week upon the Sjuth African market, 
where there ha* been an extraordinary rise. The buying k 
moM extemive, chiefly Briiiah, though there U a very good 
demand from the Continent, espedaUy from France. In some 
cases the rise of prices this week has been extraordinary. In 
a single day the nonainal £1 share of one company rose from 
iH to 01^, so that it is now at a premium of 890 per cent. No 
doubt capiul is small and the property very rich and exten- 
•!»*; but the advance shows how wild the buying has now 
bcoooie. After a while speculation must extend, and it would 
■O moat beanily into the American department if only the 
pnblio were aatiafled that sound money would be maintained. 
The bank dividends for the Brst half of the year are now 
being announced. As was generally expected, they show in 
almost every case a reduction upon those declared twelve 
Bontba ago. The London A Westminster, for example, pays 
M per cent against II per cent last year, awl the Union 9 per 
ent against 10. 

The following return shows the position of the Bank of 
Sagland, the Bank rate of discount, ths price of consols. *o. , 
•ompared with the last three years: 



nrealfttlon 

Pvbti* d«po«lu. 

Mh*r depoflta 

SoTsmaient s»«ariU«t 

atb«r»MDritt«« — 

B«a«fT« of noCM and oola. 

In a balllon, botb departm'tt 
Prop. rMarre to Ilabllltlca. . p. e. 

■•akrmta .._p«r 

OoDSOli, tNP<re*Dt 

aUT« 

GUsrtnff'Hoase r«tariu . . . 



IRSS. 

.TiilvS. 

£ 

M,9oa,sia 

a,T«e^4S8 

S7.88M42 

i>.tai.i77 

2«.5li.705 
SS.43t.018 
S7.»]3,ai8 

t 
107 S-t« 
SO«d. 
17l.74l.OQO 



ISM. 


I8D3. 


I8B?. 


/»<|4. 


Juln 5. 


July a. 


84.400.850 


<7.481.95S 


27.219.475 


10.S12.16S 


5.t<81 285 


5.553.218 


8»,9a8.104 


SS.SI4.322 


31.752.?S3 


13.1'J 1.328 


t3.i07.OII 


13.155.065 


81.S37.«88 


2».03a.4'15 


28,829.380 


KI,S00.tC7 


18.} 13.122 


l«,"83.5-2 


aS,IK 1.3i7 


I».71S,S77 


27.153.047 


93H 


4S7-ia 


40 7.18 


t 


*M 


2 


lOlM 


9eis-t« 


(S0.M 


S8Nd. 


34Nd. 


39Nd. 


l(U.707.0'JO 


173,8*7,000 


7M11.0I0 



The Bank rate of discount and open market rates at the 
chief Continental cities now and for the previous four weeks 
have been as follows : 



Btm •/ 
fatarMts* 


Julv 5. 


Juiw 28. 


Junt 21. 


Junt 14. 


BaiU 
iisM. 

i 

3 

i 
S 
SM 

tw 

4 
S 
• 


OPM 

JTsrlM 

IN 

IN 

IN 

IN 

IM 

IN 

SM 

»M 

i 

SM 


aaiU 
lUU. 

t 
* 
t 
> 

*M 
*M 

4 
• 
• 
SM 


Op<« 

if ark* 

IN 

Ki 

«M 

tM 

IM 

IN 

4 

6M 

s 

SM 


Bmmk 
Bmt: 

~*~ 
s 
s 

8 

*M 
tM 

4 
* 
6 
SM 


Mmrlui 

~M 
«M 
V* 
*H 
IM 
IN 
4 

SM 
s 
SM 


amu 

2M 
«M 

SM 


Owm 
Mark/I 


?»r»s 

BsrilB 

(teabut-. 
makfoct.. . 
aautafdaa . 
•rusals .... 

Vlsans 

tt.ra(OT*b«rs 
MaSHS .. 
0»D— bMSn- 


IM 

S 

3 

V* 

IM 

IM 

SM 

iM 

s 

SM 



The following shows the imports of cereal produce into the 
United Kingdom during the first forty-four weeks of the 
>n oonpAred with previous seasons : 
mroBTB. 
1804-ft 1R98-4 

taporUofwhsat.cwt.S3.79S.996 64.780.774 

~ ■ — 27,048,938 

11.320.T4U 

2.oa34>68 

4.449,079 

31.141.6^ 

10.4t<3.6O4 



Barley 
Oats... 
Pea* .. 



, 31.93a.)>l4 
. ia.x21 J77 
. 1.999.919 
, a.7.'V3.90i 
, Sl.S14.e74 
1«,71S.330 



1892-3. 
93,080,116 
14.240,797 
11.928.109 
1.894,611 
3.943.3)10 
27.Oi7.l4J 
17,980.187 



1891-2. 
97.430.679 
19,349.963 
12,106,332 
2.423,687 
3.179,130 
24.341,064 
16,813,621 



Soppbaa available for consumption (exclusive of stocks on 
September 1): 

1898-4 1803-3 1891-3 

94,780.778 93.080.116 97,120.679 

10.44'4,8U4 17,580.H7 16.813,631 

19,19i«,7SO 33,934,679 28,033,466 



18M-S 
Wheat Ua|M>rtwl.owt.S2.796.O08 

iBPorUot Soar 16.7I4.3J0 

SaMsef haa»(rown.ls.972,803 



TMal ^....98.480,020 90,389,162 

18M-9. 1893-4. 

4v*r.B(to* wheat WMk.2e«. ZL tii. Id. 

STMnc* r1e*> MMK>n..90a. »<i. 39s. 7d. 

The following shows the quantities 
tnaiw afloat to ttia United Kingdom : 

nta wilt. £«*l Mss*. 

Wheat an. S.44e,000 S,.'V99,000 

Floor, sqaal to «r*. 313,000 248.000 
" ._ qrs. 493.000 413,000 



94,191,0S2 101.366.762 
18»a-3. 1891 2. 
36a. 9<1. 391. 3d. 
36*. 9d. 34s. Id. 

of wheat, flour and 



1694. 
4.193.000 
398,000 
941.000 



U99. 
3.270,000 
312,000 
483,000 



■■cUak riaaaelal .Varkoto— Per Oakle. 

Tbe daily doaing quota tioaa for securities, fto., at London 
•!• reported by oable as follows for tbe week ending July 19: 



•Dver, paros A. 

OsBMia. Dcw, a% p. els. 

For aeeonat 

rr'oh raatsa iia Parts* fr. 

Atah. TepiAB. P* 

Oaaadlaa Paaise 

~ take * Ohio 

ilw. *W.Paal.. 
Osaml 



mtarti 
UksM 



LeelBvlUa * ITsshvlUa. , 

Maxloaa Oealrai 4s 

!f . Y. Central * lladaon 
■. Y. Laka mnu * Waal. 

Mseaaols. 

■selMk * WaoTa. pr«f . 
Vstthsra PaeMo. pra/.. 

^saanrlvanla 

PhIL * Bead., par sham 
BoutheCB Kr., ooi 
«e prerd. 
OaioaPaaiflak... 
Wabash. 'far.. 



Mat Man. Am*. Wad. Tkun. FH 



307,, 
107»„ 
107H 
102-23 

10>t 

97 "s 

33 

70«s 
tOl 



.1. 



30»i. 
107»„ 
107 "» 
101-80 

10>s 

n 
101 



30 <• 

107»,« 

107 »s 

10319 

10>s 

67 H 

31^8 

70 

101 



eO% 
•8M 
103% 
10\ 
69 



ia>s 

99^ 
•>s 
19 
44 
13^ 
30 



60% 

08 >« 

103 >a 

10«s 

ao 



16% 
59% 

9% 



44 

13% 



OO'V 
67% 
10>>s 
lOlVi 
60% 



18% 
»0% 

9% 
14? 

43% 
13% 
19% 



30% 

10T»„ 

lOTS., 

03-8^>« 

9^8 

98% 

21 7( 

68% 
100% 



60% 
67% 
103% 
10% 
68% 



18% 

99% 

9<4 

14% 

427a 

18<4 



80»,« 
1077,4 
107% 
03-22% 

10% 

97% 

31% 

69% 
100% 



60% 
67% 
103 
10% 
68% 



69% 
9% 

14% 
427a 
13% 
20 



80% 

107% 

102-15 

10% 

se% 

31% 

08% 

100% 



00% 



103 
10% 
6S 



18% 



9% 
U>S 
43% 
18% 
10% 



tfommetrctal»txd DdUcellaueous Mtws 

Imposts kso Exports for tuk Wkek.— The following are 
the imports at New York for the week ending for dry goods 
July Hand for the week ending for general morcbandise 
July 12 ; also totaJs since the beginning of the first week in 
January. 

roaaiaa ntroan 4t nsw roas. 



Mm- Wuk. \ 1893. 


1893. 


1894. 


1890. 


Dir Goods.,... 
Oaot mei'dUa. 


^,379.788 
8,023.348 


•2.373,949 
9,8ei,6Sr 


•1,480,931 
7,308,611 


•2.n44,744 
9,96>',367 


TotaL 

Mnct Jaf%. 1. 
Dry Good ...... 

Oaal met'dlae. 


•10,3(»,ia6 

(06,189,180 
242,027,921 

$308,213,701 


08,334,980 

•78.712.451 
370,987,100 


•8,799,932 

•44,261,089 
187,897,911 


• 12,013,11; 

•79.441,771 
201.217,939 


Total to waaks 


•340,690,991 


•231.998,976 


•380,699,306 



THE CHRONICLE. 



[Vol. LXI. 



■^.e i,np<nu of dry Koodsfor one week later will be found 
to our r..,H,rt of the dryjCO^«„f^f ^he export, lexclusive of 



The followinR wa 



iI>ecie)from tlie port of New 



York to for«ii?n ports for the 



^^MinK July Te and from January I to date : 
Bxromn raoii »«w roat »oB tb» wkm. 



Iter the werk. 
Pwv. reporu-d 

Total 28 weot*. 



1892. I 
~ $6T23,«27' 



1893. 

18i,949,946 



«91H-«05.8«l tl93.183.181 



1894 



189S 



$6,298,365 
193,780,861 

♦ 200.079,326 



86,540.634 
178,0a5,121 

>184.C2S,755 



^e following table »ho-v8 the exports and i-^PO'^ «' *P^'f 
*^- i^rt of New York for the week ending July 13 and 
JtoSXn^arJ l.WBS.aDd for the correspon lias penoia m 
18M and 1893 : 

■xpoan AKD iicpoaTg of spiom at kbw Toaa. 



floM. 



«!«•« Britain 

Fnooe 

OermaoT 

•We«t ludlM 

Mexico 

Booth America...... 

All other oountnea. 



Total 1895 
Total 1894. 
Tot*l I8P3 



Kxporlt. 



Week. 



aineeJan.l. 



«250,000 



S.OOO 
4,100 



Import*. 



Week. 



S8,319,76S 

12,032,310 

8,780,(186 

7,513,146 



9tl2,854 
261,48 J 



9,942 



4,808 
986 



Since Jan. ^ . 

$14,780,139 

4,603,9«8 

1,527,191 

2»3,569 

33,021 

226.t84 

61,796 



1259,100 »34,839,642 

650.1G9| 70,447,843 

a.OOOl 68.676,475 



il5,7.S6»21,526,188 

77,076 10,742,291 

968,415 8,067,403 



-The R. oreanizition Committee of the Milwaukee Street 
Eri^lay Company announces that about 90 .««' cent of the 
bonds and St. cks having been deposued w.lh the Central 
T?u8t Company of New York, the plan of reorganizatioa has 
bISS decZt^effective, and further deposit of securmes 
thereunder will be received only on payment of $10 for each 
bond and $1 for each share. , w » w .v. 

-The Bondholders' Committee of the Omaha Water Works 
Company k"v. 8 notice to holders of 53 bonds of the American 
W«er Works Company which have not deposited their bonds 
with thrFa^mer»^Loan & Trust Company under the agree 
ment of A.?^u8t 16, 1893, that ihe time for the deposit of such 
Cds L iSd to August 10, 1895, after which no more 
bonds will be received. 

-Messrs. Joralmon & Co., Denver, Col., are prepared to 
appi^^rand' report upon Jnvestments.^eU^^^^^^^ de^aulted^ 



and report upon 

or "otherwise, made in Colorado. ^ . _ 

property for non-residents and act for them in any way hat 
mafbe desired. The card of Messrs. Joralmon & Co. will be 
found on the front page of the Chhoniolb. 

-Reports of the condition on July U. of the following- 
named national banks will be found in our advertising 
Columns :Me?clntUe. City. American Exchange, Continental 
and Gallatin. , ^ „,^ 

-The new loan of the city of Waterbury Conir-afteen- 
year 4 per cent water bonds-is oflfered for sale by Messrs. W. 
J. Hayes & Sons, Boston. 



MUver, 



Great Britain 

France ,....-—-. 

OrnuaTijr. ..w ■ 

Went Indies • 

Heilfo 

Bo\itb America 

Ail other countries. 

Total 1895. 
Total l'-94. 
Total 1893. 



XxporU, 



Week, 



•768,300 



(768,300 
469.010 
941,091 



SinuJan.!. 



•18.032,528 

'13.485 

122,406 

3»9 

642.142 

18,542 



Imports, 



$18,829,502 
18,730,489 
16.671,214 



Weeic. 



•1,351 

13,438 

6,695 

55,007 



$76,491 
43,3- 4 
38,123 



Of the above imports for the week in 



aineeJan.1 

~ $49,246 

3,364 

5,160 

188,159 

312,574 

422,6m4 

17,366 

"$998,563 

8''0.0a7 

2,168,937 



were 



City Railroad Secnritkes-Brokera' Quotations. 



Atlan. Ave., B'klyn— 

Con. 58, g.. 1931. A40 
Impt. 6h, g^ 1934. .J*J 
ek. 



107 

86 
29 



1895 $3,366 
Amer^.;k"n ;;.Trco\nTnr$l^ American sa^^ 
exports during the same time $234,100 were American goia 
coin. _-_^--^====== 

FOB WON TBADE of NKW YOBK-MONTULY ST ATKMBINT. -1 n 
aid?"n tolhe preceding tables, made up from weekly 
wturas w^ s^ve the following figures for the full months , 
S^^iJd bfour New York Custom HouBe, The first state- 
ment covers the total imports of merchandise. 

tUFOKra IHTO BBW TOBK. 



Bleek. St.&Fal.F.-Stk. , 

lBtmort.,79, 1900.J&J {llO", 

B'way*7tiiAve.-Htoct. 197 
lBtmort.,58,1904.J*D }10« 
2d mort.,68, 19i4.J&Ji}101» 
B'waylat, 58, guar. 1924 {112 
ad6»,lnt.asrent'1.1905 Sli>4 



113 
181 
Ill's 
105 



Oonsol Se, 1943...J.S.K 
Brooklyn City-Stock.... 

OODBOl. 68, 1941. ..J&J 

Bklyn.CrO88t'n88.1»0S 105 

Bkrn.(i'ii9('o.*Sub.l»i,Slf>2 
Bklyn.C.JlN'wt'WB— blk( 200 

6s 1939 I'W,'' 

Brooklyn Traction H'^ 

Prelerrert - »» 

Central Crosstown— Stk. 1H.J 

l,tM.,6«,192i...M&N }118 
Cen.Pk. N.&E.RlT.— Stk. 163Si 

Oonsol. 7». 1902.. .J*D J114 
Chrl»t*p'r*10Ui St— Btk. J 50 

l«t mort..lx98...AAO 1"6 



110 

si' 

112>» 
201 
108 
112 

loe' 

113<i 

182 



104 



109 
18 
68 

200 



18S 
118 
166 
108 



ColumbtiB A 9th Ave. 6s. 
I. U. H. B. 4 Bat'y— Stk. 
1st, gold, SB, 1932.J4D 

Eighth Avi'iine— Stock. . . 



Igl 

Scrip, 68, i914 .-....-- 
42d & (Jr. St. Fer.— Stock 
42d8t.c& Mau.*Mt.N.Av. 

l8t mort. 6s, 1910.MAS 

2d mort, Income tfft.J&J 

Long lalaiirt Traction 

Lej.Ave.&Pav. Ferry 5s. 
Metropolltau Traction.. 
Ninth Avenue— Stock... 
Second A venue— Stock . 

l8traort.,5«,19()9.M*^ 

Debentni e 5s, 190>.. J AJ 
bl'.^th Avenue— ^^tl«cl^.. 
Thlia Avenue— Stock. 

Ist mort-, 58. 19.<7.J &J 
iTwentyThlrd St.— St'k. 

Deb. B«, 1903 

0nlun By- Slock 

l8t5s,1942 ... 

I Westohest'r, lBt,Ka.,58. 



Bid. 



Ills 

172 

114 

«103>v 

326 

103 

305 

57", 

{115 
57 
»». 
111". 
lOlHi 
150 
155 
10» 
103 
208 
1X2 
119 
300 
100 
104 
I 03 
[lOO 



ABk. 

lilij 

173>* 

116 

105 

360 

315" 

61 
116 

81 

9», 
111>* 
102 
165 
157 
1<>»1« 
104 If 
214 
183 



106 



105 If 
103 



i And aoorned interest. 

(jlas Securities— Brokers' Quotations. 



GAS COMPANIES. 




Brooklrn Qae-IAght. 

UeuU-al „.^ , 

CouBumerB' (Jersey City). 

Bonds 

Cltiieiis' (Brooklyn)..—, 
Jersey City & Hoboken., 

M etaropoUtan— Bonds 

Mutual iN. y 

Nassau (Brooklyn) 

Scrip. i-rz," 

N. Y. <fe East KIT. l8t 5s.. 

Preferred 

common 

Ooneol. 5g 



Bid. 


Ask. 


132 


■~ 


150 


160 


88 


92 


100 


... 


71) 


.... 


180 


.... 


108 




172 


.... 


2-ZO 




100 




92", 


93 


56 •» 


57 


31 


Si's 


75>. 


77 



GAS COMPANIES. 



People'B (Brooklyn) 

Peoples' (Jersey City).... 
Metropolitan (Brooklyn) 
WUliamsborg 

Ist 68 

Pulton Municipal 

Bonds, 88 

Equitable 

Bonds, Bs, 1899 

Standard prel 

Common — .... 

Western Gas 

Bonds. 6b...-..—* ...... 



Ask. 



93 


^ 


1-0 


176 


175 




205 


• ••• 


105 


108 


175 


.-^•. 


105 


....a 


194 


197 


iiie 


• ■• 


105 


107>« 


64 


66% 


63 


Hi 


{96 


97 



§ And accrued Interest. 



Auction Sale8.-Ajnong other securities the foUowinK^not 
regularly dealt in at the Board, were recently sold at auction. 

Bv Messrs. R, V, Harnett & Co.: 
10 shares Trow Directory Printing & Bookbinding Co.. Pref- - •- SI"* 
25 shares Broadway & Seventh Ave BK. Co 

By Messrs. Adrian H. Muller & Son: 



fhares. 
952 Brooklrn City RB. Co..l80-is 

12 Nlhth Nafl Bank 120\ 

20 Continental lus. Co z/ot i 



Sharet. 

SO American Fire tns. Oo... 67 
12 Central Nafl Bank 121 



SattMttfl m%& ^IwattclaX. 



Co., 



— Tlie semi-annual report of the Union Discount Company, 
of London, for the half-year ending June 80 is published as 
usual in our adverlisir.g columns. The gross profits for the 
half-jfurafter making provision for bad and doubtful debts 
wne $462 ;i52. A dividend at the rate of 9 per cent per an- 
num w ac I B'd. Tl-e paid-up capiial is $8,185,000 and the re- 
ef r^e fund $1,026,000. The Union Discount Company have a 
•isnding caid ( n the second page of the Chronicle m which 
they keep revifced by cable the rates they allow for money. 



Spencer Trask & 

27 * a9 PIITK STREET, - - NEW TOBK. 

65 State Street, Albany. 
I N V E S T M ENT SECURITIES. 



Sawuel D. Davis & Co., 

BANKERS, 

NO. 40 WALI. ST., NEW YOBK. 

SAMOM. P. DATI8. CH^S. B. VAN NOSTBAND . 

G^EO. BAaci.Ar MoFrAi. Alkiandkk M. Whit* J«. 

Moffat & White, 

BANKERS, 

80 PINE STREET - - NEW «OBK. 

INVESTMENT SECURITIES. 



r 



JCLY 30, 18M.J 



THE CHRONICLR 



'^he gankcvs' (B^xitttz. 



101 



DIVIDENDS. 



\ttmt of Comptuin. 



Railroads. 

Ceotnl Ohln, pre/, uxl oom 

Ctn. Ham. Jr Dajrtoa eonLiquar.) 

CorDWail A I/rbaooo 

IIUDoi<C'eut >l 

I^kp £. A Weatem. pnt. (qnar.) 
Lone Iiland (quar.) 
Matioi tnic ' ual eo 



Otal. 



Whfn I 



SooJIuelaaat. 
(Ooya ineluntt.) 



NaahrlliB CtasL A St. L. (qoar.l.. 

PltUimrir * L<ke Brie _ 

Tru* Conpanles. 

Hsmilton, BroflkltD (quar.l 

Peuple't, Bruoklro iquar.) 

fire ln«araa««. 

Phrnii (Brooklyn) .„.. 

Rubtera „. 

WUiUm- irooklyn)... 

Brooklin ; ... ^,i»r.) 

Do li.f intra) 

ntlMB'a rraoUoD iPitubarc)... 
aUMt Br.* lU. Propenlaa (aref.) 



S jjuir 

m lA^nx. 
1 An*. 
S Aa£ 
1 AOC. 

A<W. 

AUK. 
Aoc. 



a 
a 

s 

5 
10 



l^i Joi, 



31 Jolr 17 
29 Jul/ 19 

3l|Anr. 8 
IS July 28 
1 Jaly 17 
I Jolr 2t 
liJul7 25 
1 JalT 23 

1* loir 36 
l;JalT34 



to July 31 
to July 30 

to 

to Sept. 2 
to Aar. IS 
to Auk. 1 
to Aug. 1 
to Aait. 1 
to A DC. 1 

to July 31 
to July 31 



^ w ^"ll""^""? "^^""^ **?* '■'»*^ °' domestic exchange on New 
York at the under-menuoned cities today: Savannah, buying 
par, 8e liDK L/@MO premium : Charleston, buyiiR W 
BelimK ;i premium: New Orleans, bank, $1 .W premiiwa' 
oommercialMc. premium : Chicago. 10c. per 11,000 premium • 
, St Louis, 60@75c. per «l,000 premium. '^ ' ' ^ «='"»u'n , 

United 8Ute8 BondR.— Sales of Government bonds at thA 

1907, at m\ ; $13,000 43, registered, 1907, at 112 W to 1123< 
Cloeing prices were aa follows: ''' 



On dem. ^— .^.^ to 

Aiw 1 Joly 16 to Aiu. 1 
On oem.! to 



2i;> -"Ur ISlJoly It to July 15 

2 July 23|jaly 16 to Jaly2l 

3 Aa«. ll JalT JO to Joly a 1 



WALL HTRBBT. FKIOAr. JUL? IS. INM.-A p. M. 

Tke Xoaey Xarket and FinaBcUl Sitoatlon.— Bwuwm 
at the Stock Bnhaaaa hM bean rMtriotod duriog Um week 
kwkiting devdopoMnta in regard to tite crop situation, the 
coal InMinm and the foreign exchange market. 

While moat of the induatrial etocks have niffered fraa per- ; 
sistent bear prearore, inTaatmant aeouritiea, both bonda and 
"Cocka. have been in reqoaat aad prioH an gmafillj well 
•sustained. 

Reporta from the rapidly maturing eropa are moaiir of a 
favocabla chanctar, aqtaoiaUj tboae ralatiac to asm and 
•pting wheat 

Some unall aliipmenta of gold have baaa «« wiH , bat the ag- 
-r<-gate thus far ia not large and the morament ia of no im- 
( - 'i-taooe. 

We are informed by lea<IIog bankers that there to aome 
inquiry from the Weet and SotUh for loaaak Tha incnuing 
acUvity in thoM sectioaa is rapidly abMarbiag tha ampioa in 
local banks, and the demand for oro|yaiOTittg pttrpoara will 
•oon be felt at thia centre. Anticipating this thara is already 
a tendency to hardening ol imtea. 

The open market rates for oaU loans daring tha week on 
atock and bond ooUaterala have ranged tnm 1 Ik 1^ per 
cent, To^y'a rates on call were Itot^par eant. Prime 
ootBuercial paper is quoted at 3 to 4 per cent. 

Tha Bank of Bogiaad weekly aMwimeot oo Tharwlay 
tbowed an incTMee in biUUoa of i»8 S33, and the peirentage 
of reMrve to iiabUiti as was H 4« agalaat W-fl9. last ww-k : the 
dwoount rate reroaina naehanged at 9 per cent The Bank of 

fj?^ i!"*^ •■ '"**'^ «^ 7.»I7.aOO franca in gold and 
•73,000 franoi In aUver. 

The Sew York dty Oaarinr Hooae banka ia thalf autement 
af July 18 dMwed a daanase in the riiaia held of 11.381 ■ 
MO sod a aorplna over tha reqnirad raaerre of •83.40.'! a-nj 
against W3,17S.700 the pnrloaa week. 




/ft/y 
13. 



Jutg 
IS. 



16. 



Julu 
17. 



'97 • 97 - 97 •97 
'112 -112 1*112 Hi*, 
■1121. -nil,, U.it,.il2>; 
■I2t •x'23 '123 -123 
'12* '124 '•124 TJ* 



Julu 
18. 



■ 97 

■112'4 

112>9 

•122% 

123^ 



July 
19; 



110a» •xt.'i^ -USSe 'irsasinisj; 



116«| 118^*U6»| 



'I163g 



■100 -100 ,'166 

101 '101 -101 

103 '103 'lOa 
■10* -lOS i'lOS 
■10-» '108 -lOS 
■IOO^,'100%-101\| .„..^ 

10O\ -lOO*, '100^ M00% 
■100 li -lOOV •100fl|>lOO? 

100\ 'lOo^ -100^ MOO^ 



100 
101 
103 
■IDS 
108 
10)V 



ll63g 

too , 

■101>a 
103 , 

109 I 
100% 
100\ 
100\ 
100% 



i* 97 

112«« 
*112>« 

*i22a( 

•123^1 
•ll«% 

*iie% 

,•100 

•lom 

1*103 

i*106 

•109 

•100% 

•lOOH 

'100% 

'100% 



• Thla la the price ttld »t tbe mornlaic '>o»rJ. no $al« Wka'mads 



United SUtes Sab-Treasury. -The following toble show 
receipts and payments at the Sub-Treasurv. 



Joly 13 
" IS 

" •«, 
" 17 

" 1 

Toii^ 



Payiiwnfj. 



Baiatutt 



Ooia. 



a.42«.\27i 
8.xS3,1ge 

a.a77,9»3 

aj2». 9S 



• I • 

3.221.303 103,S«2.<«11 
9,306,0 1 S' 1 03.237,63 1 
a,728,<V«'l01.»03.3 43 
a.A)i:<,9-4 IOI.>tiO,.M)il 
•' •- <■ -••. i01,7as.4*<( 

1 ua,e4i.066 




«.«, t 'iWtmO^ 



i 

04.739,636 
e4,09A,8SS 
«4.^07,^«4 
6«.7a9,02l 
63.,% ..1,9 79 
e4.U3,«lS 



... 



Coina,— FV>Uowing are current quoutions in gold for coins: 

nrrralaas ..V4 BO VM cs Pine all r>T ban.. — 68ika — ATU 

Z Bilshwsrta. 4 7<* • 4 ha t<.iin.n .i/,ii.^ ^ ??>.: ??. 



•pvrralas ..»4 eo 

Z Z Biishwsrta. 4 7<* 

ift P iss ia s 4 w 

fiaa. OaabloMa.10 M 
■•X. Deabtooaa. IS So 



a BS 
4 83 

• 4 88 

• IS 7S 

• IS 73 



Pine allrtrban... — 68^* — 67>a 

KiTr fr»iica —wo 9 — 93 

Mexican dnllara.. - S3i(» — 341. 

Iio BuoomVial.. « 

Peruvian aola .... — 49 • — 32 
Rncllali all.er.... 4 83 •4 9a 
U. 8. trade dollara — 33 • — 73 



»toa cold bara. ... par • >« prem. 

..*o?* *,'* R«"road Boada.-The sales of Stote bonda at 
S^^^ iS:;'"w'ir J"^'**" Virginia fond, debt S-Jh of i»«l at 
VA}f •2: pO.Ouo Tenn. setUement Sa at 90)^ to t^V; $7,000 
^v?ni SSA'J-'""-, »'?•<>«>*, Oarolin? «.. non. fuid.. 

1 ?' '^ Carolina 4s, amall, at 101. 

Ih^failroad bond market haa been strong under the InHu- 
aao»oraoaie tnveatment demand. There have been lib.-ral 
oORiap of Col. ft »th Avfc and Ux, Ave. ft V. F. bonds. 
. '^" «^ •d'anced about one point under the move- 
"f" /?**•• * "***** "■"'*• •'• fractionally higher on limited 
aala^Ore. Short Line 8a hare advanced about S poinU on 
nMrtaor earning* in exoeaa of the fixed chargea and other 
eoodnioas favorable to the bonda. Some of the ReadinK 
lawaaaiefracUonally higher than last week. Some Houth- 
waatwu bonds liavo deotined in Byn,pathy with the stocks, 
tecladhig Mo. Kana. ft Tex. laaue<i, Tex. ft I'acs. and St. 
l«Ua Southwest, lata and Ma. Southern Ry. .-is have been 
raUtlTajy dull and heavy. Bar. ft Weatem Ist rects. have 
not held the advance noted last week and declined to 83. 
There has been a notipeable movement of No. Pac. oon. 6b 
to-day, and they have advanced over a point to 42 



Jmlg IS. 






ia»4. 

JtUlt 14. 



^P'«»J e3.aia.700 

•arploa. -.'JO«,700 

toaas a dlao-Bta. Sll,v»a,aOO O««.3,5ia,70C t 

g*? ".*?^?. I 1»,I7BJOOIB* 443*. 

f •• f»B^*U ,B«7,»70J>00 Oaa.l.flOS.20.. 

ISa,B00lB«L Bt|7;400 

i ; *£•!"•'»•• 7B»3oo_.. 

' uijiBa,aoooe8. 473^00 1*7; ■ 

^.^^ - W.4OBJ0O taa. i,3ai,eoo "73,91. 



1«B3 
Jul^ 13. 



£i,«aa.700 ao,422.7no 



...lUO 



For.lif a BxehaBga.-Tha dnnaad for foreign exchange has 
been limited, and rataa and oondiUona are unchanged. 

To^y «*«.j r»t«Bo*a«changaw«»aa follows: Bankers' 
llxty days st^-rUng, 480«4t>BJi: demand, 4 90*4 90 W: oa- 
««, 4 90)4®»90)<. ^^ ^ 

PoMd rataa of leading banket, are aa followa : 



Juig IB. 




'4 •B>t*4 90 
4 88S»4 88% 
4 tH »4 8«l« 

Is IM„ •»!««, 

4£»„a40H 
aAa..ai«S% 



4 B0>t^4 fl 



S14*,.*SMH 
t«JT,,«4o>a 
e3i*,a^tf« 



KaUraad and MlBcellaaeous Stocka.— The stock market 
■•••"•■'"/••rgoly in the hands of professionals during 
tne week and Interest haa centered in the industrial list, with 
the mult that prices are generally lower. 

American Su^ar has fluctuated between 108 and 111, cloa- 
5* *?;?? J^ " ' "^?<- Under various rumors about a receiver, 
eta, Chicago Oas sold on Toeaday at 49;i, the lowest point it 
lias tooohed since August, 1908; and it is interesting; to re- 
all that thia stock sold at 88?^ since July 1 and at Tsj.? within 
the current year. U. S. Leather pfd. lus been active but 
'A^eak, under the proepect of an additional issue of $4,000,000 
ot common and »4,000,0(IO of preferred stock, and de- 
2™f* to 81W on Tuesday. It closes to-day at fH'yi (ex. 
?^*-) Am. Tobaooo sold on Wednesday nearly 5 points 
hmar tlia nthe close last week, a part of which it has 
raoorBTBa. Distilling and General Electric have been rela- 
tive^ ateady and Arm. Tenn. Coal ft Iron sold at 821^ on 
^eaday, a loas of over 5 pointo since our last quotations, 
oioainc to-day at 85%. U. S. Rubber has been firm on limited 
aaies and is one of the few industrials which close hiirher to- 
daythan they did last week. 

The railroad list has been exceptionally dull but firm, and 
cbangea are generally unimportant. The grangers have 
ruled strong under the continue<l favorable crop reporta, and 
with no change in the coal situation the ooal stocks have 
yy without feature of interest. The Vanderbilt stoclts have 
beanatrong on some investment buying, and L. Shore has ad- 
vanced nearlv 3 pointo. In the absence of a stimulating for- 
eign demand Southern Ry. pfd. haa been weak, selling at 
JiX on Wednesday and closing at 41V, against 43 last week, 
ooma of the Southwestern shares are auo fractionally lower. 



102 



THE CHRONICLE. 



I Vol. LXI^ 



NEW YORK STOCK EXCHANGE— i40T/F« STOCKS for week ending JULY 19, and since JAN. 1, 1895. 



HIQH£8T AMD LOWEUT PRICES. 



Batorday, 
Jul) 18. 



9\ iui« 

•IH 1"» 

•62>i 63>3 

•66 

63% B3\ 

'lomiioi 
3i>t am 

161 161 

8S^ 8^H 



MoDdar, 
July 15. 



•e3>« 
a? 

t>3\ 



TnewUr, 
JulylC. 



WednMdar, 
July 17. 



I 



10>« 

IS 

esi(i 

87 I 



B»8 

l«i 

*82^ 

•."46 U 

53 \ 



9->t\ 
IV 

63 >9 

67 

63 T^ 



9H lOVt 

m !•• 

•62 >• 6i 

■66% 58 

&3\ 63% 



lOlif 103>« zlOOitI02>« 101>s 101% 
18>t 18Hi '18>4 19 *18>« 19 
21i« 21%; 21*4 31% 2L 31% 
•167 161 "167 Itl 'Ibl 101 



86 86% 



J 



86% 86% 



68% 68%! 68 68% 68% 68% 
122% 122% 122% 122% 

98% 98% t>8% 98^6 98% 99 
'143% 147 I 146 146 i*146% UH 

71% 7l%' 71% 71%' 71% 72 
■39% 4tl%| 39% 39% 



*110%118 
-46% 46 
*»2 06 
•26 26% 
•6'-* 66 
130% 130% 

*163 163% 



•40 44 

•126 180 
98% 98% 

•10% 11 
••38% 36 
3 25% 26''a 
^'84 84% 
, 147% 147% 

•86 88 

9% 10% 

69 69% 

1 *8% 9% 

,, 26% 26% 

111% 111% 

101 101 

•20 21 

•82% 

•47 

•18 

: 87% 

32% 
•23 
'68 
101 



•16 



84% 
48 
18% 
88% 
32% 
24% 
90 
101% 



16% 
72 

30 80 
•10% 10% 



49 



48% 
•210 

17% 17% 

f4 10% 10% 

•27% 28% 

•8% 3% 

14 14 

" *4% 4'e 

V*17% Jb% 



•26 

•6% 

•5% 

18 
•19% 

52 

•30% 
•17 
•116 

64 

•7% 

17% 



29 

8 

6% 
18% 
20 
62 
32 
18% 
116 
64 

8 
17% 



"117 118 
46% 46% 
'93 96 
24% SB% 
•62 66 
129% 180% 

I 

•14% 16% 
•47% 48 
'40 46 
■127 131 
•98% 99% 
10 10 
88% 83% 
36% 26% 
Si^a 85 
147 148 
•86 88 
9% 10 
59% 69% 
8% 8% 
26% 26% 
111% 112 
■.... 100% 
20% 20% 
•83 84 
47 47 
18% 18% 
37% 37% 
32% 32°g 
23% 23% 
*6S 90 
101 101% 
•16 17 
•67 71 
-30 32 
10% 10% 



39:<4 39% 

117% 117% 

46% 45% 



86% 86% 



•24% 26% 

'62 66 
130 130% 
163 163 I 
•14% 15% 

46% 46% 
•40 44 
■127 131 

98% 98% 
•10% 11 
•32% 85 

26% 26% 

84% 85 
14s>«149%i 
X85% 85% 
9% 9I3 

59 69% 
8% 8% 

26% 26% 
HI%111«8 
100 101 



68 68% 
122% 122% 

98% 98°8 
146 146 

71% 71''« 
•39 40 
117 119 

46% 46% 
•92 95 

25% 360(1 
•62 66 
18U% 130% 



Thunday, 
July 18. 



July lU. 



10 

1% 

•62% 

■56% 

63% 



10%! 
1%] 

64 I 
5713 
54 



BTOOE& 



101 101% 
•18% 19% 
21% 21% 
160 160 
86 86% 
64 66 



•14% 15% 
■46% 47% 

40 40 
127 127 

98 98 
•10% 11 
•32% 35 

25% 26% 

84% 84% 
149% l.'>0% 

84% 84% 



47% 48% 
208% 208% 
17% 1709' 
10 10 
28% 28% 
3% 3% 



20% 
82% 
46 

17^8 

36% 

82% 
22% 
•68 



20% 

82% 

47 

18 

37% 

33% 

22% 

90 



'10 
59 

25% 



11% 

58% 

8% 

26% 



111% 111% 

-99's 100% 

21 21 



100% lOO^e 
•16 17 
•69 72 
'30 33 
10 10 



•4% 478 
18 18% 



•116% 117 
24% 24% 
14% 
42% 
12% 
•2 
•46 
•79% 

18% 
»19 

16% 
63% 
*6% 



14% 

43 

12% 

2% 
49 
81 
13 

6 

8% 
19% 
17% 
68% 

5% 



30 
8 

6% 
18^8 
20 
6^% 
32 
18% 
116 
65 

7% 
17% 
:m 28 

91% 

114 116 
24% 24% 



•26 
•6% 
•6% 

1778 

•19 

•61% 

•30% 

•17 

116 

•63 

7% 
17% 



14% 


14% 


42% 


42% 


13% 


13% 


•2 


2^ 


>46 


49 


•78 


80 


13% 


18% 


•6 


6% 


8% 


8% 


19% 


19% 


16»8 


17% 


63% 


54 


•5 


6% 



47>* 48% 
209 209 
17% n^s 



•10 

28 

•3% 

•13% 

4% 

18% 



10% 
38% 

3% 
14% 

4% 
18% 



•25 
6% 
6% 
17% 
•18% 
60% 
31 
•17 
116 



64^8 
7% 
17 



26% 
6% 
«% 
18% 
20 
60% 
31 
18% 
116 



81 
47 

1778 

36% 

32% 
'23% 
•68 
100% 101% 
'16 17 
•68 72 
•30 32 

10 10% 



83 

48 

18 

37% 

33% 

24% 

90 



•47% 48% 
209 209 
•17% 17% 



'10 

28 
8% 



10% 
28 
3% 



68% 63% 
•122% 123 

98% Oi>% 
•145 148 
71% 72 •< 
40 40% 
•117% 119 
•45% 46 
•92 95 
26% 25% 
•62 66 
130% 130% 
162% 163% 
14% 14% 
46% 46% 
41% 42% 
•126 130 
•98 99 
10% 11 
84^8 35% 
26% 27 
84% 84% 
150% 101 
•86 88 
10 10 
59% 69% 
•8% 9 
•26 26% 
112 112 
•100 100% 
21% 21% 
•81 

4678 

18 

87 

32% 

23% 
•68 
101 



Active RH. Htor.kit. 

!)% 10 At. Top.&S.Fe.lst iustal.pd 

•1 1% Atlantic A Paolllo 

6'^ •'a 63 B»Uinu>re A Ohio 

56 6639 Canadian Paoillo 

63% 63% Canada Honthem 

100% 101 Central nf New Jersey 

'18>.i 19 Cemral Pailllo 

20''a 21 'Chesaiieake A Ohio , 

'1.57 161 Chicago A Alton 

SU% 86% Chicago BurliniirtOD A Qolnoy 

55 % 65% ChloaKo A Eastern Illinois. . 

99% 99%| Do pref 

68 68%ICbloafo Milwaukee A St. Paul 
122% 122%{ Do prel 

99 99 CbloaKO A Northwestern 

146 146%; Do pref 

71% 7^8 Chioaeo Rook Island A Pacific 

3»% 89% Chlcaeo St. Paul Minn. A Om. 
'117'4ll9 Do pref. 

45^ 46% Clere. Clnoln. Ohio. A St. U.. 
•92 95 Do pref. 

•25 26% Oolanibns Hooking Val. A Tol 
•62 66 Do pref 

130 130 Delaware A Hudson 

162% 162% Delaware LaokawannaA West 
•14% 16 Denver A Rio Grande 

46% 46% Do pref. 

•38 43 Evans vlUe A Terre Bante. . . . 

124 127 Great Northern, pref 

•98 99 illllnois Central 



82% 
47 
18 
87% 
3314 
23% 
90 
101 



16% 16% 

•68 71 

•80 32 

1 % 10 



•4% 
18 



4''e 
18 



65 

7'% 
17% 

80 

91% 

114 117 
24 24% 
14% 14% 
4i°8 42% 
12% 1278 



26% 
74% 



•26 
•73% 
106% 107% 

99% iiil^-s 
111% 111% _ 
114% 114% xli3 

66% 66%l 65 



*1«8 

•46 

•78 

•13 
•5 
8% 
19% 
16% 
52% 
•6 



2% 
49 
80 
13% 

6% 

8% 
19% 
17 
63 U 

6% 



•28 

*6'8 

'538 

18 

19% 

62 
•30 
•17% 
116 

66 
7% 



30 
6% 
6% 
1«% 
19% 
52 I 
31% 
18% 
116 
66 
7% 



•4.% 

•17'^ 
10 

•27% 
3% 

•1312 

4% 
18% 



1 

1 ) 
33% 

3% 
14% 

4% 
18% 



16»e 17% 
80 



26% 26 

74 74 

106 107% 

99<>8lOO 
xl07%109% 
" 113 
56% 



142%14'^%*142 144 



30% 
85% 
84 

•80% 
•6% 
•11 
38^8 
•162 
•171 175 
•67 67% 
86% 87% 



20% 
30 
84 
81 

5% 
13 
29% 



1% 1 

2% 2% 

16% 16\ 

86 K6% 

t. 89 40 

91% 91% 



19% 20% 
86% 35% 
8378 34% 
90^8 91% 
6% 5% 
■11 13 
28% 28% 
160 100 
171 175 
67% 67% 
33% 36 



23% 36% 
78% 73% 

106% 108 
99^8 100% 

107 108 



24 

14% 

41% 

12% 

•2 

•47 

•78 
18% 
"5 
•8 
19% 
16% 
63% 
•8 



24% 
14% 
42% 
12% 

2% 
49 
81 
13% 

6% 

8% 
19% 
17 
63% 

G 



•25 

'6 
5% 

18 

19 
■61 
■30 
•17% 



30 
6% 
5% 
18% 
20 
62% 
31% 
18% 



116% 116% 
•64 66 
7% 7% 

17 17% 

' 30 

91% 

114% 117 

24% 24% 



pref. 



Iowa Central, 

Do 
Lake Erie A Western 

Do pref. 

Lake Shore A Mich. Southem 
Long Island 



10% 10% 

33% 33% 

26% 36T8 

8478 847e 
150 161% 
•86 88 
•10 10% Long Uland Traction 

58'8 59%LoulBvlUeANa8hvlU9 

■8% 9 Loulsv. New Alb. A Chicago. 
•2.0% 26% Do pref. 
11 1 % 112% Manhattan Elevated, oonsol. . 
■99% 100% MiohlKan Central 

20% 2058 Minneapolis & St. Louis. 
•81 83 
•46% 47 

I713 1708 

36'>8 87 

32% 32'e 

22 ■8 22% 
-68 90 
lOO's lOO'e 

16 17 



70 
30% 
9=8 



70 
80% 
9'i 



48% 49% 
203 203 
♦17% 17% 

10 10% 



271a 

338 

•1308 

4% 

18% 



28% 28% 

•6 

•5% 



Do ist pref 

Do '2d pref 

Mlssonrl Kansas A TexM..., 

Do pref, 

MlssourlPaolflo..,. 

Mobile AOhlo 

Nashv. CbattanoogaASt.LoniB 
New York Central A Hudson. 
New Vork Chicago A St. Louis 

Do Istpref 

Do 2d pref. 

New York Lake Erie A West'n 

Do pref. 

N. Y. A N.E. , tr. reos.aU Ins.pd 
New York New Haven A Hart 
New York Ontario A Western 
New York8u8q.AWest.,new. 

Do pref 

Norfolk A Western 

Do pref! 

Northern PaoUlo 

♦Do pref. 

Ohio Southern... 

Oregon R'y A Navigation Co 
6% 'Oregon Hh. Line A Utah North 
5%|Peoria Decatur A Evans vllle. 



27% 

3% 

14% 

412 
18% 



14% 

4l7e 
12% 
•2 

•78" 
13% 
-6 
8% 
10% 
16% 
52% 
•6 



14% 
42% 
12% 

2% 
49 
81 
13% 

6 

8% 
19% 
17% 
62% 

6 



1% 
•2 
16 

82% 

39 

9'% 



1% 
3% 

16% 
86 
39% 
91 



49^8 56% 
•141% 143% 
19% 20% 
85% 35% 
34% 35% 
80% 91% 
6% 6% 
11% 11% 
28% 29 

152 

171 176 
•67 6738 
83% 84% 



1% 1% 
3 2 

16 16% 

81% 83% 

39% 40% 

80'a 91 , 



24% 24% 
73 73 

10708 110% 

100 100% 

107 109% 

111 113 

5078 53% 

141 142 

19% 20% 

36% 36% 

84 3478 



91 

5% 
11% 
28% 

163 

171 174 
•67 67% 
32% 85% 



90% 

6=8 

11% 
28 



25% 
73% 



25% 
•72% 
10878 111 

99% 90% 
10808 109% 
113% 113% 

51% 5308 
140 141 

;o% 20=8 



17g 2 

2 2 

16% 16% 



36% 

34% 
•90 
6% 

11% 

2S% 

156 

174 174 
•67% 67% 

3438 85% 



36% 
34% 
91 

5% 
11% 
2878 



1 
1% 

15% 



1% 
1% 

10% 



17% 18% PUUadelphlaA Reading 
19% 19% rlttsburg Clnn. Clilo. A it.'h. 
*81>3 82% Do pref. 

•30 31% Pittsburg A Western, pref 

•17% 18% Rio Grande Western 

Rome VVatertowu A Ogdensb. 
St. Louis Alt. A Terre Haute. 

St. Louis Southwestern 

Do pref. 

St. Paul A Dnlntb 

Do pref. 

St. Paul Minn. A Manitoba... 

Southem Pacific Co 

Southern voting trust oertlf . 
Do., pref. voting trust cert 

Texas A Pacific 

Toledo Ann Arbor A N. Mlob. 

Toledo A Ohio Central 

Do pref. 

Union Pacific 

Union Pacific Denver A GaU. 

Wabash 

Do pref. 

Wheeling A Lake Xrie 

Do pref. 

Wise. Cen. Oo.,votlng tr. ctfs. 
raiscellaneoaB Mtocks. 

26% American Cotton Oil Co 

73% Do pref. 



•64 


66 


*7l2 


77r 


17% 


17% 




30 




91% 


114% 117 


24% 


24><i 


14% 


14% 


41% 


42 


12% 


1208 


•2 


2% 




49 


•78 


81 


13 


13 


•6% 


6% 


8% 


8^, 


19% 


19% 


16% 


17 


52% 


62% 


6% 


6% 



25% 

7338 

10876 lllse'Americau Sugar Refining Co. 

pref. 



Do 
American Tobacco Co. 
Do 



pref 



Chicago Gas Co., trust rec'ts.. 208,7951 497eJuly 16' 78% Jan. 11 



82% 86% x80% 93% 
39% 40% 40% 40% 
907, 91%l 91 91 



•99% 101% 

108% 10878 

112 112^ 
51% 534 

136% 139 jConsolidated Gas Company 
20% 20% Dis.A O.F.Co.,lr.otf. all ins.pd 
35% 36% General Electric Co 

33 35% Nauoual Lead Co, 
90% 90% 

508 6% 

11% 11% 

28% 28% 

159 

172 176 
•67% 67% 

34 35% 
•97% 100 

1% 1% 



Bales of 

tbe 
Week, 
Shares. 



Range for year 1898. 



liOireat. 



Hlgbeat 



8% Jan. 80 



14,52 < 

345 

<iOU 

450 
2,340 
4,892 

200 
4,565 

15-147 
81,498 69 

3001 50 

200 90 
68,630! 5378 Mar. 9 

7951114% Mar. 29 
9,948 87% Mar. 4 

820 137 Feb. 14 

11,965! 60% Jan. 3 

l,I00i 28% Mar. 8 

100 104 Mar. 30 

854 - 



% Feb. 27 
49 Mar. 8 
38 Mar. 8 
48 Jan. 30 
81% Feb. 18 
1278 Feb. 6 
16 Jan. 29 
Jan. 9 
Mar. 4 
Jan. 12 
Jan. 31 



341 
i",727 



35% Feb. 13 
82 Jan. 10 
16 Jan. 29 
55 Jan. 9 
123 Mar. 9 
300155% Mar. 8 
lOOi 10% Jan. 29 
205j 32% Jan. 29 
400; 30 Feb. 20 
150,100 Jan. 28 



517 

948 

559 
8,485 

610 
4,062 

486 
3,273 
6,144 

760 

1,275 

2,4t8 

7 

900 

81 

1,400 

l.SbO 

12,606 

6,667 

482 



1,979 

100 

22 

120 

4,650 

3,852 

27 

211 

365 

1,310 

350 

50 

350 

2,259 

"ibo 

200 
180 
60,170 
300 
250 
200 



240 

460 

1,935 

3,669 

100 



2,110 

3,976 

12,622 

2,080 



677 



860 

3,185 

21,190 

1,156 

200 



81% Jan. 4 
538 Jan. 28 

19 Jan. 31 
16% Feb. 11 
69 Jan. 28 

134% Jan. 2 
83% Apr. 19 

5 Mar. 25 
467e Mar. 12 

6 Mar. 6 

20 Jan. 4 
104 Jan. 2 

91% Mar. 4 

14 May 23 
79 May 23 
39% May 23 
12% Jan. 30 
21% Jan. 29 
18°ii Mar. 11 
13% Mar. 20 
64 Jan. 29 
9208 Mar. 15 
11% Feb. 20 
68 Apr. 23 
24 Feb. 21 

7% Mar. 9 

16 Feb. 26 
29 Jan. 29 

193 Mar. 20 

1538 Jan. 3 

678 June 7 

21 June 10 

2 Mar. 5 
9% Mar. 4 
2% Jan. 28 

13 Feb. 27 
4 June 18 

17 Apr. 6 
3% Jan. 29 

3 Feb. 4 
7% Mar. 4 

15 Jan. 12 
43% Jan. 30 
28 Apr. 17 
15 Apr. 16 

112% May 4 

36% Feb. IS 

4% Jan. 25 

8% Jan. 29 

18 Feb. 5 
90 Feb. 4 

104 Mar. 8 
16% Apr. 17 

8% Jan. 29 
29% Jan. 29 

8% Jan. 30 

7eFeb. 14 

41 Jan. 14 

78 Jan. 14 

7% Mar. 14 

3% Feb. 11 

638 Mar. 6 
12% Jan. 29 

8% Feb. 28 
88 Feb. 28 

2% Mar. 1 



»11% Junel7 



8,035i 18% Feb. 13 

861 62 Feb. 18 

282,599 86% Jan. 3 

8I2I 90% Jan. 8 

64,586: 8408 Feb. 21 

425 103% Feb. 27 



2 May 1» 
68% Jan. 18 

60 July 13 
56% June 1& 

104% July 8 
'20% May 18 
23% May 11 

IfcO July 9 
8678 July 11 
57 May 8 

102 May 37 
6!>08July lO 

123% Juno 17 

100% June 25 

146 July 15 

73% June 17 

41% Juue IS 

117% Juue2l 

4678 June 17 

93 Juue20 

2778 Apr. 1 

69% Mar. 27 

133% Jan. 18 

166% Jan. IS 

16% May 11 

48% May 11 

51 May 11 

134 June 20 

99 July » 

11% June 13 

35% July 18 

27 July IS 

86 June2S 

151 June 24 

88% Jan. 6 

13% Juue 24 

61 May 11 
10% May 24 
29% May 18 

11978 May 7 

103 June 18 
23 June 18 
88 June 19 
4978 June 20 
19 June 26 
39 July 8 
34% July 11 
27 May 31 
70 Jan. 18 

104 May 16 
18% May 13 
72 May 26 
34% May 17 
14% May 13 
3278 Juue 15 
66 July 9 

21m JuuelS 
19% May 11 
14% Jan. 21 
43% Jan. 18 

6% May 13 
19% Jan. 18 

8% May 13 
27 May 11 
19% May 1 
32 Juue 11 

9% May 13 

7 May 13 
2108 May 13 
22i4May 13 
54 May 13 
33% Jan. 8 
197e Juuel7 
117% Jan. 21 
68 Juue 6 

8% July 9- 
18 July It 
31% May 18 
95 May 11 
116% May 15- 
25% Juue 3 
147«May 10 
44% July » 
li^eMay 13 

4% May 14 
49 June 14 
81 Mar. 31 
17% May 11 

7% May 14 

9% May 13 
21% Juue 18 
18% June 27 
8476 July 3 

608 May 14 

30% May 13 
7978 May 13 
12138 June 13 
102% Juue 18 
117 May 27 
II518 Juue21 



*1% 

15 

80 

40% 

91 



2% 
15% 
81% 
40% 
91 



pref 



Do 
North American Co, 
Oregon Improvement Co 

Paofflc MaU 

Pipe Line Certificates.... 

Pullman Palace Car Company 

Silver Bullion Certificates 

Tennessee Coal A Iron... 

Do JP"**- 
Unlted States Cordage Co 

Do pref. 
United States Leather Co 

Do pref. 

United States Rubber Co 

WeRt^rn Union Telegraph 



3,810126 Jan. 29 

49,483 13% Mar. 20 

2578 Mar. 4 

26% Feb. 16 

78% Jan. 28 

2% Jan. 30 

8 Mar. 8 

20 Jan. 26 

95% Jan. 4 

164 Jan. 2 

60 Jan. 10 

13% Jan. 29 

74 Apr. 17 

78 July 9 

108 July 9 

7 Feb. 27 

58 Feb. 27 

3714 June 28 

86 Jan. -^H 



10,855 

10,889 

2,149 

1,515 

510 

2.620 

5,000 

408 

21,000 

56,982 

i',580 

993 

17.375 

63,782 

8,742 

5.186 



' These are bid and asked ; no sale made. t 1st Instalment 3 % paid. II Lowest is ex dividend. 



149 Juue 8 
24«8May 13 
3778 Mar. 26 
38 Jan. 18 
91% July 1ft 
7 May 18 
14% May 24 
32% JiuielS 

181 May 10 

178% Juue 17 
68% Apr. 1 
40% Juue 29- 

102 Juue 25 
8% Jan. 4 
13% Jan. 4 
24% May s 
87% May 27 
48 June g 
94% June Ij. 



JCLY 



'•J 



THE CHRONICLR 



103 



NKir fOBK iiTDUH CXUUANM8 etHCiHlVantiane<H-IffACriVB STOQKH. rtlndieatea aotual salea.J 



f Indicates anllsted 



aimHrom* BtockB. .^ 

AlbABT A Stuqueliuiiu 100 

Bait A O. 8. W. pref.,new 100 

B-OlevUIe & SoatU. 111. pr«f 100 

BMton h It. T. Air Une pref ..100 

Brooklrn KleT»ted1 100 

Bablo BoebMter A Pttteborg.lOO 

PiaCarrad. 100 

BoL OBdkr Bapid* A Nor. 100 

OtoraUnd A Pltubnrc .SO 

Dm Mo om a Foi I DodM 100 

Preferred 100 

Oatath ^. Shore A Atlaotle 1 .100 

Preferred^ 100 

niBt A Pere MArquelie. 100 

Preferred 100 

Or. 8*7 Wla. ASt. P. tr.ree....lOO 

Pnftrred tmat reru 100 

H'NMIOB A Tezae Uentra 100 

nilvita (Vmtr*! Ie«««<l i Ioea....l00 

Indiana IitlnoU A I'>wa 100 

jtAoawDaA ailohlxau loO 

Keokuk A Dee Moines 100 

Preferred 100 

LooUt.SI. Loiil*ATezas 100 

Makonlnx Oonl 50 

Preferred 50 

Matnipollun Trarttoni 100 

Maslanii Crotral 100 

Mezieao National u. etfs 100 

KerMsAliaaex SO 

■aw Jeraer A «. Y 100 

Pntened lOO 

M. T. UMk. AWesMra 100 

VottoU A aoatb^m 100 

mtlaA aaMara 100 

R*aaaaiaMr A Santotta 100 

tUo Oranda Waeten pref 100 

ToiadePwflaAWaetem 100 

Xolado Bt. L. A Kansas Cltyl-.tOO 



July 19. Banift (tat—) in 1895. 



Bid. 



197 



132>i 
104 W 

19>i 

21 

50 

SO 

160 

9 

4»<« 
8 

10 

^i> 
40 

% 

St 



Id 
7»i 

4 

leif 



n 



65 
5>t 
180 

43 
..... 



Ask. 



10 



LovttU 



21 
CO 



"7 

13ie 

la 

41 

\\ 

3<t 



IS 
9\ 
5 



m 



13>s 
2>* 



6 Apr. 

101 >■ Apr. 
19 July 
19 Apr. 
58 Jan. 
45 May 
15« Jan. 

5<1 K«b. 
30 Jan. 

2>«Mar. 

5>4Mar. 

9 Apr. 

34 Apr. 

>4 Peo. 

IH Fell. 

14 Mar. 
8« May 
17'eJuly 

8'eFeli. 

3 Jan. 
13>* Mar. 

l>aApr. 



B3<e Apr. 

8 Mar. 

l»eApr. 

1S« Feb. 



.... llSig JniT 

.... «5 Apr. 

7% 2 Jan. 

na July 

45 SO Mar 

• "jnae 



EitKetl. r 



13 May 

105 "jiilv 
H JiilV 

24 M:iv 

60 A].' 

45 M.iv 

159>t JuiV 

11 June 

AS J itie 

9 Jiuie 

1X\ Jiini' 

17>*Mi>y 

4.^ May 

2 Mar 

4i« M«v 

3\ M.v 

9>* J.m. 

•-•4 M .V 

10 .\|.r. 

« Miiy 

17>aJuly 

l"* Aj.r. 



103 If June 

13>« M»y 

4 May 

l«4 Jan. 



lis tfth. 
00 Apr. 

7 July 
18S Apr 

4«*t May 

8 "iiay 



iHAcmTc Stock*. 
f Indloates onllated. 



Sanffe (Kila) tn 1895. 



Mlecellaneoas Stocks. 

Adams Express 100 

American Bank Note CoH 

American Express 100 

Amer. Telesraph A Cable 100 

Bay State UmV 50 

Brunswick Company 100 

Chic. Juno. By. A Stock Yards. 100 

Preferred 100 

Colorado Coal A Iron DeTel...l00 
Colorado Fuel A Iron 100 

Preferred 100 

Oolambus A BoeUng Coal 100 

Commercial Cable... 100 

Consol. Coal of Maryland. .....100 

DeUoltOas 50 

Edison Eleotrlo lllnmlnattnx...I0O 
Erie Telerrapb A Telephone . . 100 

Illinois Steel 100 

Interior Oandult A Ins 100 

[.aeledeOas 100 

Preferred 100 

LetalKh A WllkesbarreOoall ... 

Maryland Coal, pref 100 

Mlenlf an-Penlusular Car Co ... 100 

Planned 100 

Mlaneaota Iron 100 

National Unseed Oil Co 100 

Nattoaal Starch Htg. Co 100 

New Den tral Coal 100 

Ontario surer Mlnlnit 100 

PennsylvaalaOoal.... SO 

Postal Tslenaph-Oabla 1 100 

QalcksllTerlUnlnK 100 

Preferred 100 

Texas Paolflo I^and Trast 100 

U.S Cordage, noaranteed 100, 

,0.*. Tllimi 100 

'0.8.BaSB«rM«fcrTed lOO' 

' Walls. rar>»g^Kss 1 00' 




im June 

4iaia July 

94 July 

9>t June 

163H June 
33>« Jhu. 
30)4 July 

102H June 
60 July 
78''sJune 
41>4Mar. 
33>e June 
i May 
20 Jan. 
SO J.in 

58>i*May 
69 June 
31^ June 
12 May 
9 June 
10>s May 

340 July 
69 Apr. 
4<«May 
20 Apr. 
12>4May 
33>t Jan. 
45 Jan. 
98 >s June 

llliaMay 



No price Friday ; latest pnee this weak 



NEW TORI MTOCK EXCHANGE FUCE^STATE B0ND3 JULY If*. 



BKCCBITUa. 



il 



Alf***^"*-"*** A, 4 to 5 

Class B, 5s 

aassO,4a 1900 

Cvreaei faaAlac 4s 1»M 

.Aritan » a» ea,lM^HoL18»9-l900 
ais. Von-Holford 

7s antaaaaa Caatral BB 
Loolataaa— 7s,eoBS _4914 

BtaBped4s 

lew aoaola. 4s 1914 



190«rt08 
1900 108 



97 
•7 

3 
150 

1 

no 



•« 



30 



100 



8aODRITI£«. 



Bid. 



MIssMrt-raad UM-ISM 

lartfc Q—>fa «s.otd .JAJ 

ra>dia«M». IMO 

' ' .BR 



■jialsl Ms.OU 



I. 



•aath UareUaa— 4>sa. a»40. 
aa. — fn 4... 



.Ul» 
.IMS 
.1 



S5 

10 

18 

IH 

IH 

1*10^ lOS 



137 
liM 
l> 



I 

t>a 

3>a 



130 

lis 

S 



BKCURrriES. 



.uu.»uu ui,old 1803-1%98 

Ss, new bonds 1893.8-1900 

do new series 1914 

Compromise, 3-i.A-«s 1913 

Ss 1918 

Radsmptlon 4s 1907 

do 4lss 1913 

PanltaaUarr 4iss 1913 

Tlrgtata fondad debt, )i-3s...l991 
Sa. dalarrad fst ree'u. stamped. 



Bid. 



89 

95 
105 
lOS 

61% 
6 



904 



63 >a 
7 



Mew T«rk Clkr Buik HUtcaeat for the wMk andiog 
Jolv 18. 18W. We omit two etpJWra (00) in oil com*. 



KAsas. 
(OOssmlttsd.) 



'0€ipUal turfCt Ae a as. Bfm la, 



BMk eC New Yerk- •J.OOO.O (lOSS.] •It.OM.O H. 

Ssahattaa Co. 



New Terk Citr. Beetoa «■< PklUdelphU BAiks: 



'Sg? 



J nasi* .'..IiMJmJmT.I 
" 33.. lAl u'iA 1 .M-j niM 



MlMellaaeeu u4 Uallsted Beads i 




tu si. I Xiili. \ tiss l i. Xl ipw lf i.f OI^Tn OImHuss. 

a«.Ma.a iisSitai ft««.>)i6 issiM »»o,d7-<,4 

.1-. «7-. I I u J, ,7 S74.4SU,0 ISlBia «14.Mia.9 

' I 57U.43d,S UlJ»OlS8«.4tf5.1 

. Al<il.H7J,a UlStU dS1.4ft7,8 

:j fte7,97u,0 1317I1J M3,905,9 



•M.5 



I laaso.o y.iMM.o i68.i»7,o 7,342,0 

> 10.rJ7,a H.39S 17«,0UI,U 7.S4A.0 
I KMtTl.O 8,4M,0 176.384^0 7.1*77,0 



ai.s<M,o 

J^.a74.o 
i.944,0 



111,385.08,354,0 
!lll,O71.0|a,S>>«.0 
'111.789,0 lt.aM.0 



Bt,31S,8 
110.H07,7 
103,031,3 

74,088,7 

23.803,9 
8.938,8 



I IksM Mans. * lastadla* for Boston and PUla- 



■ I ssillan— s ■»a<a. 
•in Da. «M* tr «ena.7S«. 
*S.Yda.-<M.t.C.,»s 

IhSTSi-.a.'' • 

.— lstca.s> 

ar. 8s 

lie 

Oa.— latSs. 
of BklTD.. Irtfts.... 
K^alt a..ll,N.Y,.eaea.f.»s. 
KqallaMea. A P.-lstfc.... 
Hsadstiaa Brtdn-lat (. Ss. 

nilaalsBlaeliuC. «• ... 

Naa.aaaT. deb. OS. 

IsL Oesd A Init. dn^ 8« 

" " ~ ' H. A U «, 4«. 



'107 b. 



SOSb. 
>1U1 b 
' 71 %b 
109, a 



94 b. 



90 b. 
90 b 



48 b 



jniseailaaeeae Baada. 

Maiiapel. Tsl. A TelTirt St 

Mh..Pealo. Car Ut St. 



Mataal Ualaa Tslsc as c. 

N. V, A N. J. Telep. gsn. Os. 
{ North wsstara Teleiraph— 7t. 
Peopls't Oat A O. Att g. 6s. 

Co.. Chloaco.... I 3d K. St. 

Islson*. R. Os 

leea. Valley Coal -Itt c Sa. 
Boath YobaWaler Co.oon.flt. 
Haaday Creek Goal 1st t <>•>. 
U. 8. Gtather-«. f. deb., cSs 
Western Dalon Talec— 1 . . . 
WkaaLL.B.AP!y« Goal IstSs 

Oallsied Beads. 
Oomsiook Tannsl— Ins 4s.. 
Msm-AOharlsttoD— Con 7 g. 



ilT**. 
lOft b. 
110 b. 

•i06'>U. 

lou b. 

*iau b, 

•i()6"b. 

•il3%b. 

108 b, 

88 b. 

10 b. 



■ontr-^fiadlsatas Prise »«d; "a"meast*»4. • Latest pries this week 
Baak 8Uek LUt— Lsteat iirioe* thU week. ('.Not listed. ) 



»«.«33.7 73.303 7 511 093.0 64 »'»4.» in,H3.» Sd: »7n.O 



BANKB." 


B.i 


Atk. 


lANta. jAid. 


A... 


ikHia. 


aio. 
llT~ 


ass 


ABSriea !soo 




Oaritold SSO 




Xlalh 




4m. Kioh... 13» 


161 


ilermaaAa. 118 


ISS 


l»th Ward.. 


13S 


135 


Bowery*. 




i>«rauaBz.« ... .. 


.... 


N. AOMrioa. 


IM 


ISO 


SnMdwsy . . 210 


sm 


aenaaau,... 390 


430 


OrlsDtal .... 


300 


350 


Baisha-ADr. 


ISO 


180 


Urssnwloh.. ISS 




Pselfls 


IHS 


300 


Oaaftal 


11*^ 


190 


HMoTer 310 


840 


Park. 


370 


800 


asti::::: 


soo 

3S0 


400" 


Bod. RiTsr. 

Im.ATradVSlO 


67i" 


Psople's .... 
Phealz 


113" 


iio" 




4800 


imnit 140 


189 


Prod. Itx.*.. 




,¥■ 


flHr , 440 




LaaUsrMts'llOS 


.... 


aepabUc.... 


. ... 


163 


CJHmw^at 1411 


ISO 


LiBOoU OlS 


..... 


Seaboa-J... 


188 




OelaaiMa 




Msahsttaa.'lM 


300 


BeooDd 


800 




(Inmiawut... 183 


190 


MarkatAraI<310 


.. 


SeTsath .... 


100 


....a 


Osottaaatal. )33>i 




Ifsehaoles'.. 180 


190 


BhoeALs-tb 


»IS 


97 


Oem Bzeh.. Mo 


*a« 


K'ahs-ATrs' 


140 


140 


Soothem . . . 


14U 




Ka<t RiTsr.. 


1.10 


ISO 


MsresaUle.. 


18S 


3U0 


8UM0I N.Y. 


lu8 


lift 


nth Ward... 








1.13 


140 


Third 


lOS 


....• 




3700 




Meroh'u Bx 


IIS 


Vii 


Tradetoi'n'a 


91 


9a 


Jgg* 




...... 


MetropoUa.. 
Mt. Morris.. 


400 


46S 


33d Ward*.. 




..••• 


3700 




100 


...■• 


Calan*....» 


..... 




finti<'8.i. 
UthBdaet. 


130 


130 


Naaaaa. ..„. 


ISO 


lan 


Ua'd Stataa 
Wsstsro .. 


180 


..••• 


170 




New York .. 


33 1 


21s 


110 


U6 


Foarth 


173 ■■ 187 


if.Y.Co'nty. 


SOit 




Weft Bids.. 


380 


..->•■ 


OMlatla...... 300 310 


HY.Nst.Bl.llOO 


vii 









104 



THE CHRONICLE. 



[Vol. LXI. 



BOSTON, PHILADELPHIA AND BALTIMORE STOCK EXCHANeES. 



Active Stocks. 
1 lodlcikle* unlisted. 



Atob'. T. A 8. Fe (&>f(on).100 
AtUntIo A Pao. " 100 

Balttmoro A Uhto (BalL). 100 
B»lt. City P»»»'ge» " 28 

BalUiuore Traeuon " 2S 

BalttmoreTTse'Df(PAil.). 2S 
Boston A AllMUiT(Bo«(on).lOO 
Boston A LoweU 100 

Boston A Maine " 100 
OMit»l of Mass. " 100 

Preferred " 100 

Ohio Bur. AQuln. " 100 
Ohio. Mil. A 8t P. (PAtJ.).lOO 
Cllo.C).AU.Tot.t.o. •• 50 

at. »t. Ky of IndU 100 

XtooUloTncU'D " 50 

rttohtmrit i«ref..fBo»(on>.100 
LehlKli Viilley.. (fhita.). 50 
Halue (Vntritl (floit(oii).lOO 
MetropoI'D TracT <Pnit).\O0 
Mexican Cent'l rBo«'on). 100 
M Y.AN.K.,ir.re«.} " 100 

Preferied,tr.reo.4 " 100 
Nortlii-rn Central fBaJ/.;. 50 
Hortheru PaolHc f i'Aifa.;100 

Preferred - 100 

Old Colony (Botton) 100 

Pennsvlvanla. ..ri'Ai'a.J. 50 
Peoiile'cTrai-llon " 50 
Phlla. A Kciuling. *• 50 

PWladelpli Trao. " 60 
Union Pa<lllo...fBo»ton>.100 
inincellaneoa* isitocks. 
Anj.8u){'rKclln.Tifi*o»'on>... 

Preferred 



fjr Nliare Prices — BOt Per Oentam Prices. 



Saturday, 
July 13. 

f9T^ 10 



■62 64 



Bell Teleplione.. 
Best. A Montana. 



100 
25 
25 
25 



Bntte A Boston. 
Calumet & Hecla 

Canton Co (BaH.).\O0 

CXinsolldatedOas " 100 
ElecSlor. Bat'y1I(PA«a.).100 

Preferred H " 100 

Erie XelephaBe.rBo<ton;.100 
eeneral Eleotrlo. " 100 

Preferred " 100 

Lamson StoreSer. " 50 
l^hrhCoal&.Sbr.CPAUa.J 50 
N. E.Telephoue <Bo»«o«;.100 
UnltMtia.«hup.1ia'A«'a.;. 50 
WeUhBcli Linhtli " 5 

West Knd l,aAi...(BotU»i) 

( All Instalments paid. 



20 >« 
20 >« 

'212 

•202 

175 
■13% 

•85 
85*4 
68 >e 
\3\ 
52 
72's 
89^1 
37 

•12 
49 



30>« 
20 >« 



175 
14it 

"s'si; 

68i>B 
13\ 

52 V| 

73 

90 

3718 
140 
101% 

12 >« 

49 

94 



Monday, 
July 15. 



tlO 10>« 



62 



4% 4% 

•17% 18>« 

178% 180 

S4>t S4is 

61% 61^8 

9 g**! 

*80>a 81>4 

•13 13'3 

106% 1073» 
•99% 100 
197 197% 
74 «s 77 
177e 18i« 
295 295 



-62% 63>t 



57J4 57% 

35% 35% 

72 

22 22 

461* 46% 

86 86 

76'8 76'e 



•Z"* 

• Bid and 



20 >« 

20>« 
212 
202% 
gi7S 

18% 

■55 

85% 

68% 

13 



63 

72 

Zuas 
20 •« 

213 
202% 
174% 
14% 



Tuesday, 
July 16. 



10% 

1% 



85»e 
68 >« 
13% 



72»g 


73 "i 


8l>% 


90 


37% 


37% 




140 


101% 101% 


12 


12 


•47% 


48 




97 



'4% 5 
•18 18% 
179 . 179 

54% 54% 



61 

9'i<; 



93s 



79% 80% 
13 13 

106»B 107'* 

99% 99% 

196 196% 

74 75''8 

17% 18% 

2»6 296 

•67% 68% 

■62% 63% 



58 59 
3508 35T9 
70 70 



*46 46% 
87 91 
76% 76% 



238 238 
asked prices; 



1908 

•1% 
•62 

"20"' 

20 
•213 
202 
•173 
•13% 
•55 

85% 

68% 

13 

52 

72 

89 

37 

101"% 

12% 
47% 
•90 



72 

20% 

20 
213% 
202 



14% 

'88% 
68»8 
13 
52 
72 
89% 
37^ 

ioi% 

12% 
47% 
94 



4% 

18% 



54% 
61% 



79 
13% 



106% 109 
100% 100% 
195 196 
74% 76% 
18 18% 
295 296 



4% 

•18 

178 

54 

61 

9 

78% 

•13 



63% 63% 



58 60 
35% »5% 



•70 

•22 



72 
22% 



46% 46% 
90% 90% 
75% 75% 
5738 57% 
2% 23e 
no sals was 



Wedaeaday, 
July 17. 



t91l]« 10% 
*!>• 1% 

•62 .... 
72 72 
20% 20% 
20% 20% 

213 213 

202 202 



•13% 14 
•55% ..... 

85% 8S7g 
68 68% 



51 



51 

•72 
S9% 90 
37 38% 

140 

101% 102 

12% 12% 
•47% 49 

94 

68% 68% 
•4% 5 
'18 18% 
179 180 
53^8 54 
61% 61^8 
9l,« 96 



Thursday, 
July 18. 



110 10 

1% 1% 
•62 63 



'1« 
79% 
'13 



'If 
80% 
13% 



108% 1103|8 
100 100% 
IAS 196 
76 7738 
18% 18% 
295 295 

70 

62% 63 
29 29 



20% 

20% 
212 
202 
173 

13% 
•56 

86% 

68% 

13 

51 

73% 

90 

38% 
•137% 
102 

12% 

47% 



20% 
20% 
212 

iVs 

13% 

58 

86% 

68% 

13 

51% 

73% 

90 

38% 
139% 
102% 

12% 

47% 

94 



59% 
36% 
70% 

22% 
46% 
90% 
75% 
57 

made. 



59% 

36% 

71 

22% 

46% 

90% 

75% 

57 

26,6 



4% 4% 

•18% 18% 

179% 179% 

53^8 54% 

61% 62 

91,6 93,. 

82 82 •'s 

•13% 13% 

109 llO'e 
100 100 
105 196 
77% 78% 
18 18% 
299 300 



63 63 



59% 59% 
36% 36% 



70 
22 



70 

22 



46% 4B% 
90 90 
75% 75% 
57 57 
•2% 2% 
II Lowest la 



Friday, 
July 19. 



{12^8 13 

•1 1% 

•62% 64 
•71% 72 
•20% 20% 
20% 20% 
211%2U% 
•203 204 
173% 173% 
•13 14 
•45 50 
86 86% 
68% 68% 
13 13% 
.M 51% 
75 76% 
90 90 
38% 39 
138 138 
10178 10^% 
12 12% 
47% 47% 
•93 95 
'68 69 

4% 4% 

•18 18% 

179% 179% 

5378 54% 

62 62% 

ST, 9l,» 

82% 84% 

•13 13% 

109 111 
100 100% 
196 1B6 
77% 80% 
18 18% 
300 300 
'68 70 
•62% 62^8 
29% 30 
•^8 30 
59% 59% 
36 36% 



Sales 

of the 

Week, 

Shares. 




•22 
•4B 

x88 



70 
22% 

47 

88 



75% 76 
56 57 
'2% 2% 
ex dividend 



8,440 

250 

50 

200 

1,180 

2,007 

155 

89 

59 

20 

8*003 
12,311 

80.S 
1,519 
2,272 

561 

1,703 

25 

5,260 

1,180 

110 



6 
680 



7 

3,418 

7,346 

21,151 

12,951 

10 

42.163 
688 
566 

43,148 

6,037 

321 



Range of gales In 1895. 



Lowest. 



3% Jan. 

'SO Jan. 

49^8 Mar. 

69% Mar. 

14% Jan. 

14% Jan. 

206% Mar. 

196% Jan. 

160 Jan. 

5 Apr. 

48 Feb. 

69% Mar. 

54 Mar. 

11% May 

34% Feb. 

70 Apr. 

82% Jan. 

27% Mar. 
125 % Jan. 

81 Apr. 
5% Jan. 

29 Jan. 

59% Feb. 

64 Jan. 
2% Jan. 

13 Feb. 
176% June 

48% Jan 

43% Jan. 
3i»i6 Mar. 

76 Apr. 
8 Mar. 



161 

386 



1,795 

2,251 
181 
115 
26-* 
18S 

1,704, 
1071 

l,313l 
1 1st Ins 



86% Jan. 7 
90 Jan. 8 

175% Apr. 17 

33% Jan. 2 

9 Mar. 12 

230 Mar. 12 
67% May 4 
60 May 17 
26 June 13 
28 Apr. 5 
45% Feb. 13 
25% Mar. 4 
60 Feb. 5 
22 July 12 
40% Mar. 8 

66 Feb. 15 

67 Apr. 2 
36 Mar. 28 

2 Jan. 30 
ta'., $3, paid. 



Highest. 



{13 
2 

65 

74 

21% 

21% 
213 
204 
177% 

16 

60% 

87 

69% 

15% 

54% 

87 

93% 

39 
140 
106% 

13% 

55% 
10)% 

70% 
7% 

25% 
182% 

54% 

63 

10% 

99% 

17% 



July 19 
May 18 
Jan. 21 
June 12 
June 17 
June 17 
July 10 
May 13 
June 18 
May 13 
May 14 
July 11 
July 11 
June 17 
July 8 
Jan. 3 
June 12 
May 11 
July 8 
Jan. 3 
May 7 
July 8 
June 21 
June 7 
May 13 
May 14 
June 19 
July 11 
June 3 
May 18 
Jan. 3 
May 10 



120% June 13 

102% June 12 

210 May 20 

80% July 19 

IH July 8 

305 May 27 

91% Jan. 16 

65% Jan. 2 

34% Feb, 13 

32% Mar. 18 

60 July 16 

37% July 9 

72 July 8 

25% Apr. 16 

49% Jan. 5 

91 July 15 

79% June 17 

60 June 21 

33i«May 9 

1 2d in